KELOWNA, BC, Feb. 26, 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"), renewable annually after the initial two year term, to provide cannabis and hemp extraction
services to Tilray Canada Ltd. ("Tilray") (NASDAQ : TLRY), a global leader in cannabis research, cultivation, production and
distribution.
Under the terms of the Agreement, Valens will extract a minimum annual quantity of 15,000kg of dried cannabis and hemp. The
Company will receive and process the cannabis and hemp on a fee for service basis into crude, distillate or other cannabis oil
derivatives as required by Tilray before bulk shipping the desired product back to Tilray for final processing and sale.
"Partnering with Tilray to support their existing and emergent product offerings marks another milestone for Valens," says
Tyler Robson, CEO of Valens GroWorks Corp. "We take pride in our proprietary extraction processes
and are honoured our best in class extraction capabilities have been recognized by Tilray, a pioneer in the global cannabis
market, which we believe is a testament to the quality and reliability of our services."
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
Safe Harbour.
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SOURCE Valens GroWorks Corp.
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