Valens GroWorks First Cannabis Harvest
May 3rd, 2018
Valens GroWorks Corp. (CSE: VGW) (the “Company” or “Valens“) is pleased to announce wholly-owned subsidiary Valens Agritech Ltd. has successfully harvested its first premium Cannabis crop under its Health Canada Dealer’s License.
Valens’ state-of-the-art growing facility, high standards, and the experience of our Master Growers has produced a robust crop yield with THC content that exceeded expectations, coming in with 24% potential THC compared to an industry average 18.5% for the strain produced.
- Valens is a company focused on the extraction of Cannabis into oil. Higher THC content produces a greater yield of finished oil products, providing an opportunity to enhance operating margins.
- Valens has one of the highest extraction processing capacities in Canada for refined, proprietary extraction into 100% pure Cannabis oil. The ability to control our inputs with premium harvested product such as this initial crop is a key component to maximizing our production process going forward.
- In April Valens AgriTech completed the installation of two additional Vitalis Q-90 CO2 extraction machines, significantly raising the amount of cannabis that can be processed.
Valens CEO, Tyler Robson commented: “I am very proud of the Valens cultivation team. Their experience, care and passion for their work really came through and has resulted in an exceptional product and standards in our facility. Our Master Growers believe they have the ability to continuously exceed industry averages. Our current growing and extraction facility has been renovated and is in the process of being Good Manufacturing Practices certified. Valens Farms, our new cultivation facility currently under way, will benefit greatly from our first harvest as we continually strive to improve in every way.”
About Valens GroWorks
Valens GroWorks Corp. is a vertically integrated provider of Canadian cannabis products which come from our proprietary extraction techniques, with three 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 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. Valens Farms is in the process of becoming a purpose-built facility in compliance with European Union (EU) Good Manufacturing Practices (GMP) standards, ensuring the product from this facility can be exported anywhere in the world where Cannabis is nationally legal for medical or (in future) adult usage purposes. Valens will be the first company to encompass the ‘whole plant’ extraction process which reduces costs and produces a premium extract. For more information, please visit http://valensgroworks.com, http://www.valensagritech.com and http://www.suprathc.ca.
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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