KELOWNA, BC, Jan. 29, 2019 /CNW/ - Valens GroWorks Corp.
(CSE: VGW, OTC: VGWCF) (the "Company" or "Valens"), a multi-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 entered into a multi-year extraction
services agreement (the "Agreement") with Organigram Inc. ("Organigram") (TSXV: OGI, OTC: OGRMF) for cannabis and hemp extraction
services.
Under the terms of the agreement, Valens will extract cannabis flowers and trim from Organigram's Moncton operation as well as hemp to produce extract concentrate. In turn, the concentrate will be used by
Organigram to produce oils and, eventually, derivative edible and vaporizable cannabis products. The legalization of cannabis
edibles and other derivative based products in Canada is expected later this year. In addition,
under the terms of the Agreement, Valens will also provide lab services for Organigram as needed.
"Looking ahead to another year of unprecedented firsts in the national and global cannabis industries, our growth strategy is
aggressive," says Greg Engel, CEO, Organigram. "A key element of that success is partnerships with
companies like Valens who can offer the capacity, quality and expertise to help ensure we deliver on our ongoing commitment to
meeting the increasing demand of the global medical and adult recreational cannabis markets."
"We are pleased to be a trusted partner of Organigram and the Canadian cannabis industry," says Tyler
Robson, CEO of Valens GroWorks Corp. "We are proud to collaborate with companies like Organigram who continue to look for
innovative technologies that will best serve the long-term needs of their customers."
The agreement between the two companies is effective immediately.
About Organigram Holdings Inc.
Organigram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a
licensed producer of cannabis and cannabis-derived products in Canada.
Organigram is focused on producing the highest-quality, indoor-grown cannabis for patients and adult recreational consumers in
Canada, as well as developing international business partnerships to extend the company's global
footprint. Organigram has also developed a portfolio of legal adult use recreational cannabis brands including The Edison
Cannabis Company, Ankr Organics, Trailer Park Buds and Trailblazer. Organigram's primary facility is located in Moncton, New Brunswick and the Company is regulated by the Cannabis Act and the Cannabis Regulations
(Canada).
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 license to cultivate cannabis and produce cannabis oil under the Cannabis Act,
as well as a license to conduct analytical testing for the cannabis industry. VAL currently has extraction processing and
supply agreements with various leading producers across Canada. Subsidiary Valens Labs 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 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
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SOURCE Valens GroWorks Corp.
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