Canopy Growth announces extraction Arrangement with Valens GroWorks

Canopy Growth announces multi-year extraction agreement with Valens GroWorks

Under the multi-year agreement’s terms, Valens will utilize their technologies and methods to process the Company flower and trim into high-grade cannabis resin. Canopy Growth expects the first shipment of merchandise for extraction will happen before the end of December 2018.

Valens previously joined the CraftGrow program of Canopy Growth . CraftGrow provides the chance to bring cannabis products to market throughout the corporation’s leading sales channels to craft cannabis producers. Valens hopes to have its products available via CraftGrow for the recreational and medical markets at the end of March 2019.

“Diversifying our extraction supply capacities with Valens, a company positioning itself as a technical extractor, increases our ability to provide a constant, high quality inventory of oils for products such as Softgels,” commented Mark Zekulin, President & Co-CEO, Canopy Growth. “We are also excited to see Valens advancement in its licensing capabilities so that it can add its products to our CraftGrow program, increasing the diversity of high quality cannabis products offered for recreational and medical clients in 2019.”

“We are very happy to provide specialized extraction services to encourage Canopy Growth’s innovative product offerings, while also capitalizing on our CraftGrow partnership to bring Valens branded products to market in the new year,” says Tyler Robson, CEO, Valens GroWorks Corp.”We take pride in our proprietary extraction procedures and are honoured to be recognized for our capabilities in supporting the development of the cannabis market, particularly with the increasing function cannabis oils will soon play in the edibles space.”

Here’s to Growth.

Canopy Growth is a diversified cannabis and hemp company, offering cannabis varieties that are curated and distinct brands in oil, dried and Softgel capsule types. From process and product innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building site a cannabis company one product and country at a time. The Company is proudly dedicated to educating healthcare professionals, conducting robust clinical study, and furthering the public’s understanding of cannabis, and through its partly owned subsidiary, Canopy Health Innovations, has devoted millions of dollars toward cutting edge, commercializable research and IP development. Through subsidiary Canopy Rivers Corporation, the Company is providing new market entrants with investment and resources and constructing a portfolio of stable investments in the sector. From our public listing on the Toronto Stock Exchange and New York Stock Exchange to our global expansion, pride in advancing shareholder value is engrained. Canopy Growth has established partnerships with major sector names including cannabis icon Snoop Dogg, breeding Green House seeds and DNA Genetics, and Fortune 500 alcohol pioneer Constellation Brands to legends, to mention but a few. Canopy Growth operates ten licensed cannabis production websites with over 4.3 million square feet of production capacity, including over 500,000 square feet of GMP certified production space. For more information visit www.canopygrowth.com

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, in addition to associated quality testing with three wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech (“VAL”) holds a permit to cultivate cannabis and produce cannabis oil under the Cannabis Act, in addition to a permit to conduct analytical testing to the cannabis market.  VAL includes a supply agreement with Canopy Growth Corporation under their CraftGrow distribution network. Valens Labs is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence. Subsidiary Valens Farms is in the process of becoming a purpose-built centre in compliance with European Union (EU) Good Manufacturing Practices (GMP) standards, making sure that the product from this facility can be exported anywhere in the world where Cannabis is nationwide legal for medical or adult usage functions. To find out more, please visit http://valensgroworks.com. The Company’s investor deck can be found especially at http://valensgroworks.com/investors/

Notice Regarding Forward Looking Statements
This news release contains”forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and”forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as”plans”,”expects” or”does not expect”,”is expected”,”estimates”,”intends”,”anticipates” or”does not expect”, or”believes”, or variations of such words and phrases or state that certain actions, events or results”may”,”could”,”could”,”might” or”will” be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to new products and statements regarding extracted product and supply into recreational or medical markets. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, and such risks within the Company’s annual information form dated June 27, 2018 and filed with Canadian securities regulators available on the business’s issuer profile on SEDAR in www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking info or forward-looking statements in this news release are reasonable, undue reliance shouldn’t be put on such information and no assurance can be given that such events will happen in the revealed time frames or at all. The forward-looking info and forward-looking statements included in this news release are made as of the date of the news release and the Company does not undertake an obligation to publicly update such forward-looking info or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Published at Thu, 13 Dec 2018 14:05:49 +0000

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