RE:Double bottom test completed ...Looks like a test of next support around 2.60 is in the cards. That's a normal course correction after the steady march from the 1.15 low on Dec 21 to the 3.44 high on Feb 27. It's all technical folks. Fundamentals certainly haven't changed.
Just received their newsletter:
Valens ("The Company") (CSE:VGW) (OTC:VGWCF) is pleased to provide the following update on operations:
Major Service Agreement Signed
The Company signed a multi-year cannabis and hemp extraction services agreement with billion dollar cannabis producer, Tilray Inc. Under the terms of the Agreement, Valens will extract a minimum of 15,000kg of dried cannabis and hemp annually.
Operational Developments
Valens has over delivered on its milestone to increase it's extraction operations to a record-breaking capacity of 240,000kg of annual throughput. This increase lands the Company it's spot as the largest cannabis extraction company in Canada. With EU GMP certification coming soon, this footprint will not only service it's clients for the Canadian market, but for their international channels as well. | | Initiating Coverage Reports
Haywood Securities published an initiating coverage report on Valens this month that included a buy recommendation, a target price of $5.25.
"We are initiating coverage on Valens with Buy recommendation and target price of $5.25. As we have outlined in our report, we believe that Valens' proprietary extraction process and develpoment of oil derivative based products, both white-label and it's own branded products should result in strong revenue growth and solid EBITDA margins. Through 2019 we expect the Company to scale revenues through its existing agreements while also announcing further agreements to leverage its processing capacity. " - Haywood Securities | |  | The Street: Investing Ideas for Extraction and Vape | |  | The Street: Smart Money Sees Green in Cannabis Oil and Edibles | |  | Seeking Alpha: Valens GroWorks - Carving Out An Unique Niche | | |