Valens GroWorks Focused on the (Near) Future of the Cannabis Industry
Robin Lefferts
November 26th, 2018
Exclusive, News, Top News
Canada made history in October, becoming the second country (after Uruguay) to legalize cannabis for adult-use. The Canadian cannabis evolution is not completed, however, as Health Canada is delaying the legalization of edibles, beverages, and other alternative delivery systems based on cannabis extracts for one year. With the widely recognized negative health effects of smoking, consumers of all stripes are looking for more healthy and pleasant ways to access cannabis, both for recreational and medical purposes. As a result, there has been an influx of investment throughout the industry in research and development of extract-based products.
Valens GroWorks (CSE: VGW), based in the Okanagan region of British Columbia, is one of the leaders in the charge to develop attractive, brandable, high margin, and healthy products derived from cannabis. Holding three licenses from Health Canada and boasting some of the most advanced facilities in the market, Valens has been actively building the infrastructure and relationships to succeed both in Canada and internationally as cannabis-derived products take over the market.
Valens GroWorks – Our Story from Plia Film Productions on Vimeo.
Recent Deals Point the Way
Valens received a license to cultivate and produce oils under the ACMPR in October. The company’s 25,000 square foot facility had previously been licensed under the Narcotics Control Regulations, and with the two sets of regulations merging as part of the new Cannabis Act the company has all of the bases covered. Utilizing this facility to research, develop, and perfect its extraction services, Valens is now pursuing European Union GMP certification. These are the strictest standards in the world, and the anticipated certification in 2019 would position Valens for export to most any legalized market.
The company is concurrently building out what will eventually be a 400,000 sf greenhouse facility that would supply large volumes of cannabis grown specifically for Valens’ extracts. This in-house supply will allow Valens to develop and commercialize a wide variety of cannabis-based products, giving the company complete control throughout the product life cycle.
Until that project is complete and licensed, Valens is pursuing deals like the one it recently announced with GTEC Holdings. Through an initial four year term, GTEC will ship bulk dried cannabis to Valens. Valens will then derive the requested extracts and oils, sending them back to GTEC for sale. Arrangements like this provide a revenue stream for Valens and offer other licensed producers an avenue to access Valens’ expertise to develop their own products. Future deals could go a step further in this direction, with Valens actually developing the final products for partners on a white label basis.
Valens recently secured the Canadian rights to a proprietary cannabinoid emulsion technology called SōRSE™. Developed by Tarukino Holdings and already proven in the United States, the technology allows for the infusion of active cannabinoids into edibles and beverages without the cannabis taste or smell. It also addresses several other issues with infusion by maintaining potency when heated or chilled, by providing precise dosing, and by allowing for faster and more consistent onset of the effects of the ingredients
Happy Apple Sparkling Cider, utilizing SōRSE™ technology and offered in three concentrations of THC, is currently the top selling infused beverage in the state of Washington. Another intriguing product is Pearl2O, a CBD/THC infused water consumers can use at home to create their own edible products. As part of the Tarukino deal, Valens has the Canadian rights to these brands and others, planning to market them once the product categories are legalized in the country.
Looking Ahead
Valens GroWorks has been very busy this fall, setting the table for both near-term revenue opportunities through its extraction services and for longer-term opportunities in branded products for both the Canadian and international markets. With a recent $27 million financing under its belt, Valens appears well-funded to implement its growth initiatives in the highest value segments of the emergent cannabis industry, both domestically and internationally. It’s an approach that bears watching over the coming quarters.
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About Robin Lefferts
Robin Lefferts has been involved in the legal cannabis industry since 2012, sometimes as an active participant and always as an interested observer.
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