Valens GroWorks Corp (CSE:VGW), a multi-licenced, vertically integrated provider of cannabis products, is pleased to announce entering into a Letter of Intent for the purchase of a 19.9% interest in R Gold Venture Inc., doing business as Ross’ GoldTM (“Ross’ Gold”), a privately-held corporation with multi-location cannabis retail stores through franchising, with a full line of premium lifestyle consumables and hard goods.

Through this initial purchase Valens establishes a presence into the opening retail recreational cannabis market by collaborating with a robust lifestyle brand and retail model. Ross’ Gold is one of Canada’s most well-established cannabis brands with a talented and diverse team. The Ross’ Gold team includes industry leaders with strong cannabis backgrounds who have made significant strides in growing their national retail footprint.

Ross Rebagliati, Ross’ Gold’s brand ambassador, commented, “Ross’ Gold is excited about the partnership with Valens and their versatile team. Ross’ Gold is a premium lifestyle brand recognized nationally and abroad. Our key focus is to make a presence in Canada with our retail operators through building out inviting and upscale retail storefronts catering to the diverse adult recreational consumer market.”


“This is a significant step for Valens to become a prominent vertically integrated brand house” said Tyler Robson, Valens’ CEO. “I’m proud to be working with one of the strongest Canadian cannabis brands in the market and, through this mutually beneficial relationship, we will play an important role in shaping the retail cannabis experience for all Canadians.”

It is contemplated that Valens GroWorks will acquire 19.9% of Ross’ Gold for consideration of:

(a) a cash payment of $700,000 to Ross’ Gold to be utilized under a pre-approved use of the proceeds;
(b) the issuance of 550,000 common shares of Valens GroWorks to Ross’ Gold;
(c) the entry into of an exclusive supply agreement between Valens GroWorks and Ross’ Gold; and
(d) the grant by Ross’ Gold to Valens GroWorks of a right of first refusal with respect to sale of any securities of Ross’ Gold.

About Ross’ Gold

Ross’ Gold was started by Ross Rebagliati, who won the first-ever Olympic gold medal in snowboarding at the 1998 Winter Olympic Games in Nagano, Japan, then lost the medal when marijuana was detected in his system. The finding was then overturned and his medal was returned, making news around the world. Rebagliati decided to enter the medical cannabis industry in January of 2013 under the name Ross’ GoldTM using his celebrity to launch himself into the industry. Ross’ Gold is currently poised to become one of Canada’s leading cannabis retail store franchises with additional stores planned in Manitoba, Saskatchewan, Alberta, and British Columbia.

About Valens GroWorks

Valens GroWorks is a multi-licensed, vertically integrated provider of Canadian cannabis products with two wholly-owned subsidiaries located in Kelowna, BC. Subsidiary Valens Agritech has initiated cannabis production, processing and sales under a Health Canada Dealers Licence, which includes a supply agreement with Canopy Growth Corporation (TSX:WEED) under their extensive CraftGrow distribution network. Subsidiary Supra THC Services is a Health Canada licensed cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant Based Medicine Analytics. For more information, please visit http://valensgroworks.com, http://www.valensagritech.com and http://www.suprathc.ca.

On behalf of the Board of Directors,
VALENS GROWORKS CORP.

Tyler Robson
Chief Executive Officer

Notice regarding Forward Looking Statements

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.

Click here to connect with Valens GroWorks Corp (CSE:VGW) and receive an Investors Presentation 

Source: www.newswire.ca

In the cannabis space this week, retailer Fire & Flower Holdings (TSX:FAF,OTCQX:FFLWF) told investors it will be entering the US market through a novel strategic action.

Meanwhile, two longstanding cannabis partners ended their relationship.

Keep reading... Show less

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less