KELOWNA, BC, Nov. 12, 2018 /PRNewswire/ - Valens
GroWorks Corp. (CSE: VGW) (the "Company" or "Valens"), a Health Canada licensed, vertically integrated provider
of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation
and purification, as well as associated quality testing is pleased to announce that it has received its updated standard
processing and standard cultivation license on November 9th, 2018. The updated licensing has
been issued in accordance with Health Canada's Cannabis Act and Cannabis Regulations, which had previously been issued under the
Access to Cannabis for Medical Purposes Regulations ("ACMPR").
Effective immediately, the Company's wholly owned subsidiary, Valens Agritech Ltd, is authorized to sell cannabis and cannabis
products in accordance with subsection 11(5) and 17(5) of the Cannabis Regulations. This updated license from Health Canada
allows Valens to engage in business to business (B2B) sales with its strategic partners and other qualified license holders under
the Cannabis Act and Cannabis Regulations, including executing on extraction agreements already in place.
"This is an extremely important milestone for the Company as we continue to strategically execute on our business plan to be
the leading extraction service provider in the industry," said Tyler Robson, CEO Valens. "Having
this new license in hand, combined with our proprietary extraction capabilities will allow us to create further value for our
shareholders and strategic business partners."
About Valens GroWorks
Valens GroWorks Corp. is a research-driven, vertically integrated Canadian cannabis company focused on downstream secondary
extraction methodology, distillation and cannabinoid isolation and purification, as well as associated quality testing with three
wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech ("VAL") holds a standard processing and standard cultivation license class under the Cannabis
Act. VAL also has a supply agreement with Canopy Growth Corporation under their extensive CraftGrow distribution network.
Subsidiary Valens Labs is an 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 Science.
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, 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.