Valens Signs Multi-Year Cannabis Extraction Agreement With Sundial Growers
Kelowna, B.C., January 21st, 2019 – 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 privately-held Sundial Growers Inc. (“Sundial”) for cannabis extraction services.
Under the terms of the Agreement, Sundial will ship bulk quantities of dried cannabis to Valens over an initial three-year term. The Company will receive and process the cannabis on a fee for service basis into bulk resin or other cannabis oil derivative products desired by Sundial. The Company will also conduct R&D services for Sundial to support product development initiatives using cannabis oil derivative products.
“We are very excited for the opportunity to utilize our extraction services to support Sundial Growers’ team in delivering innovative, high-quality consumer packaged goods to the Canadian market,” said Tyler Robson, CEO of Valens GroWorks Corp.
“Sundial’s partnership with Valens for extraction services is an essential step and builds on our plans to develop high-quality oils for delivery in a variety of product formats,” said Sundial CEO, Torsten Kuenzlen. “We know that oils are in high demand and with Valens’ capacity and expertise in extraction, consumers and medical patients will soon be able to benefit from Sundial’s award-winning genetics.”
About Sundial Growers
Sundial Growers Inc. is a privately held, Alberta-based licensed cannabis producer. We believe in health, happiness and personal well-being, cultivating cannabis for modern consumers – people who want a natural alternative that fits seamlessly into today’s active, healthy lifestyles. Our focus is on producing consistent, quality cannabis that our customers can trust.
Sundial operates two facilities in Alberta, including our flagship, purpose-built modular cannabis production facility in Olds and a second production facility in Rocky View, with plans to build a third facility in British Columbia. By 2019, Sundial expects to be one of the leading cannabis companies in Canada with projected production of over 120 million grams of dry cannabis and the ability to process over 30 million grams of cannabis extracts.
For more information about Sundial Growers Inc., visit their website.
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 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 for 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 further information, please contact:
Everett Knight, CFA
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