Valens Substantially Increases Annual Extraction Capacity To 425,000KG With Plans To Increase Capacity To Over 1,000,000KG
Valens GroWorks Corp. (CSE:VGW) (TSXV:VGW) (OTC:VGWCF) (the “Company” or “Valens”), a multi-licensed, vertically integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing, is pleased to announce it has substantially increased its annual extraction capacity to 425,000KG of dried cannabis and hemp biomass. As the largest third-party extraction company in Canada, Valens continues to experience significant demand for its services and are accelerating its growth to ensure the Company continues to meet the growing demand of its partners for both extraction and white label product development.
“We are excited to announce this significant advancement in our annual extraction capacity as we make room for more demand from our partners,” said Tyler Robson, CEO of Valens GroWorks. “This increase in scale together with our unique and comprehensive offering of CO2, ethanol, hydrocarbon, solvent-less, and terpene extraction methodologies as well as our consumer product development and manufacturing capabilities position us to be the partner of choice for leading cannabis brands both in Canada and internationally.”
Jeffrey Fallows, President of Valens GroWorks, commented, “Our highly-customized infrastructure leverages a variety of extraction technologies from around the world, placing us at the cutting edge of the industry and uniquely positioning us to provide next generation products to our partners.”
Valens is also pleased to announce that construction has commenced on its recently acquired adjoining facility in Kelowna, British Columbia. This purpose-built facility will significantly increase the Company’s footprint and is anticipated to be completed in H1 2020 bringing Valens’ extraction capacity to over 1,000,000KG per annum. This new facility will also expand Valens’ white label capacity including capsules, vaporizers, topicals, edibles and concentrates.
Mr. Robson commented, “We are ramping up our white label product development activities as edibles and concentrates are expected to hit shelves later this year. With over 100 years of combined extraction experience on our team, we have worked hard on our formulation portfolio which will be essential to the development of new innovative products coming this year, enabling our partners to differentiate their offerings. While we continue to operate as a best-in-class provider of crude oil, winterized oil, distillate, and isolate to the cannabis market, our new capacity will also allow us to expand our capabilities in product development and manufacturing to meet changing consumer market demands.
“As the cannabis market evolves, we expect to see the creation of entirely new categories of cannabis-based products driven by a greater understanding of the potential uses of cannabis. Already, we are seeing an expanded portfolio of cannabis-based products emerging in the consumer packaged goods (CPG) industry, ranging from beverages to cosmetics, skincare items, and beyond. Our modern extraction technology and unrivalled expertise uniquely positions us to capitalize on this opportunity. Our capacity increase will advance this strategy to expand into the CPG category,” concluded Mr. Robson.
About Valens GroWorks
Valens GroWorks Corp. (CSE: VGW) (TSXV:VGW) (OTC: VGWCF) is a multi-licensed, vertically-integrated cannabis company focussed on being the partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and white label product development. Valens is the largest third-party extraction Company in Canada with an annual capacity of 425,000 kg of dried cannabis and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is in the process of becoming European Union (EU) Good Manufacturing Practices (GMP) compliant. Additionally, our subsidiary Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant-Based Science. For more information, please visit http://valensgroworks.com. The Company’s investor deck can be found specifically at http://valensgroworks.com/investors/
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.
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In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.
Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.
The Board of Directors of Aphria Unanimously Recommends Shareholders Vote “For” the Arrangement
Aphria to Host Special Meeting of Shareholders on Wednesday, April 14, 2021 to Approve Proposed Aphria-Tilray Business Combination
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the UK’s leading CBD and Hemp product suppliers, announces that as part of the equity fundraise announced yesterday, Antony Calamita and Andrew Male, Directors of the Company, subscribed for 285,714 Ordinary Shares and 1,428,571 Ordinary Shares respectively. The subscriptions are at a price of 3.5 pence per ordinary share for a total of £60,000. Following these subscriptions, Antony Calamita is now interested in 54,385,714 Ordinary Shares, representing 8.61% of the Company’s share capital as increased by the fundraising, and Andrew Male is now interested in 6,138,196 Ordinary Shares, representing 0.97% of the Company’s issued share capital as increased by the fundraising
Further, the timetable for receipt of applications under the Broker Option, which was also announced yesterday, has been extended until 5:00 pm 9 April 2021 to capture additional interest which was unable to be completed yesterday.
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, would like to provide the following dial-in information for the Company’s upcoming Annual and Special Meeting (the “Meeting”) scheduled to be held at 11:00 a.m. Eastern Daylight Time on April 12, 2021. Shareholders and proxyholders may access the Meeting via teleconference by dialing 647-723-3984 or 1-866-365-4406 from Canada or the United States, then entering participation code “8487744” followed by the pound (“#”) sign.
In consideration of the COVID-19 pandemic and the recent restrictions imposed by the Ontario Provincial Government, shareholders and proxyholders will only be able to attend the Meeting via teleconference and will not be permitted to attend the Meeting in person at the address provided on the Notice of Annual and Special Meeting of Shareholders.
Gage Cannabis Announces Exclusive Partnership With Blue River to Bring Award-Winning Cannabis Extracts to Michigan
Gage Growth Corp. (“Gage” or the “Company”) (CSE:GAGE), a leading high-quality craft cannabis brand and operator in Michigan, announced today that it has signed an agreement with Blue River™ Extracts & Terpenes (“Blue River™”) to bring the brand’s award-winning solventless technology and other trademark branded products to the state’s medical patients and cannabis consumers. The Company will have exclusive rights to Blue River™’s premium product offerings in Michigan.