SEATTLE, Aug. 02, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network
dedicated to the North American cannabis industry, announces publication of an article discussing the international ambitions
of Valens GroWorks Corp. (CSE: VGW), which is looking far beyond Canada’s 36 million potential
customers to the exponentially larger opportunities in the global market. A key component of the company’s international plan is to
build and utilize facilities that comply with the European Union’s Good Manufacturing Practices (GMP) standards, currently the most
stringent regulations in the world. ‘EudraLex’ is the term for these rules and regulations governing medicinal products, and
compliance with EudraLex is the key to unlocking the global export potential of Canadian cannabis products.
Think of Canada as the pioneer of the global cannabis industry, the test market for government-licensed legal marijuana.
Countries the world over are watching the Canadian experiment with interest as the wave of cannabis legalization, initially in the
form of medical cannabis programs, builds momentum around the globe. European and South American countries seem to be leading the
charge, but many of them don’t have the production and cultivation infrastructure in place to serve their nascent markets.
Facilities and Certifications
Valens runs a laboratory that holds a dealers license called Supra THC Services. Supra recently became the first cannabis-focused, licensed Canadian lab to
achieve ISO 17025 accreditation for cannabis testing. This standard allows the lab’s test reports and certificates to be accepted
internationally, validating the company’s testing results and processes for international trade. Supra is partnered with $90+
billion ThermoFisher Scientific to create a Centre of Excellence for Plant Based Medicine Analytics in its lab.
Supra recently moved into a second Valens subsidiary’s facility, Valens AgriTech. Valens AgriTech also holds a dealers license.
With Supra more focused on testing and analytics, Valens AgriTech handles cannabis cultivation, processing, oil production, and
sales of oils through licensed producers. AgriTech is also in the late stages of its application to become a licensed producer. The
AgriTech campus is in the process of becoming Eudralex GMP certified, the importance of which has been noted above.
The third Valens subsidiary, Valens Farms, is a joint venture with a real estate development company, in the process of constructing a 400,000 square foot greenhouse cultivation and production
facility. The company expects to plant the first crop by the end of 2018, and the cannabis produced there will provide the raw
material for the state-of-the-art extraction and production at the Valens AgriTech site. This greenhouse is being built from the
ground up to EudraLex standards, ensuring the company’s ability to export products around the world once all of the proper licenses
and certifications have been achieved. Valens Farms also has the option to build another 400,000 sf greenhouse at the site should
the need arise.
The International Opportunity
Germany is home to about 83 million people, more than twice the population of Canada. It is also home to a medical marijuana
program, covered by national health insurance, that is just getting off the ground. The country has experienced hiccups in
permitting its own cultivation, and companies from Canada and the Netherlands are swooping in to satisfy soaring demand.
Italy, with a population of about 60 million, adopted a medical program in 2013. Strangely, the cultivation of cannabis there
remains illegal, though the country recently introduced regulations allowing for some hemp cultivation. The Italian army is
responsible for the country’s legal medical production capacity, totaling 220 pounds of output for the entire country in 2017.
Supply and demand forces there will likely force change. Norway, Greece, Poland, Switzerland, even the United Kingdom have very
recently implemented, or are in the process of implementing, some form of legal medical cannabis. In many places, the focus is on
allowing medicines that have very low levels of THC.
South America is another leading market for cannabis and cannabis-derived products. In 2014, Uruguay became the first country in
the world to fully legalize, though the rollout has come in fits and starts. Medical cannabis programs were established by Chile in
2014, Colombia in 2015, and Peru in 2017. Brazil has allowed the use of certain medicines for a few indications, and some provinces
in Argentina allow for medicinal use.
The Valens Plan
Multi-subsidiary, multi-licensed Valens GroWorks is creating a vertically integrated, quality controlled, interdependent and
complementary company that is primed to launch into lucrative international markets. Utilizing its scientific approach and
certified commitment to strict quality standards throughout its processes, the company stands ready to provide cannabis and
cannabis-derived products to emerging markets that employ even the most stringent regulations. Valens plans to take advantage of
its experience in the world’s most mature cannabis market, Canada, parlaying that experience into market opportunities that dwarf
those in its own country. Stay tuned.
Please follow the link to read the full article: http://www.cannabisfn.com/valens-groworks-sets-table-international-cannabis-markets/
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