KELOWNA, BC, Oct. 15, 2018 /PRNewswire/ - Valens GroWorks
Corp. (CSE: VGW) (the "Company" or "Valens"), a multi-licensed, vertically integrated provider of cannabis
products and services utilizing proprietary extraction processes is pleased to announce that Health Canada has granted the
Company their license to cultivate and produce oil under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR").
The receipt of this license marks the third cannabis license granted to the Company by Health Canada.
The Company received the license to cultivate and produce oil as a Licensed Producer ("LP") under the ACMPR through it's
wholly-owned subsidiary, Valens Agritech Ltd. ("VAL"). The Company's 25,000 square foot facility in Kelowna BC, built specifically for extraction, is now licensed under both the Narcotics Control Regulations
("NCR") and the ACMPR, allowing the Company to transition into Canada's emerging adult use
market with a regulatory advantage.
"With the two regulatory bodies merging on October 17th, the receipt of our LP license is a step
we deemed necessary to ensure the Company has every opportunity to capitalize on the adult-use, medical and retail cannabis
space, both domestically and internationally. Our license to cultivate and produce oil under the ACMPR brings us one step closer
to being able to offer Valens-branded products directly to consumers here in Canada. We are
excited to finally share this milestone which plays vitally into our business development plans." says Valens GroWorks Corp. CEO,
Tyler Robson.
The Company's latest efforts have focused on expansion opportunities into international markets and working on obtaining EU
GMP certification. The receipt of the LP license under the ACMPR, combined with the closing of the $27.3
million bought deal financing and the Company's recent procurement of the exclusive Canadian rights to the production and
distribution of Tarukino Holdings Inc.'s proprietary emulsion technology S?RSE™, demonstrates Valens' ability to strategically
position itself to capitalize on every market available, both globally and domestically.
About Valens GroWorks
Valens GroWorks Corp. is a vertically integrated provider of Canadian cannabis products developed from our proprietary
extraction techniques, with three wholly-owned subsidiaries located in and around Kelowna, BC.
Subsidiary Valens Agritech has initiated cannabis production, processing and sales under a Health Canada Dealer's 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 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 Medicine Analytics. Subsidiary
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 adult usage purposes. For more information about Valens and S?RSE™ Technology, 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.
The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek
Safe Harbour.
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SOURCE Valens GroWorks Corp.