Valens Receives ACMPR License From Health Canada
16 Octobre 2018 - 4:00PM
InvestorsHub NewsWire
Kelowna, BC -- October 16,
2018 -- InvestorsHub NewsWire -- Valens GroWorks Corp. ( CSE: VGW )
(the "Company" or
"Valens"), a multi-licensed, vertically integrated
provider of cannabis products and services utilizing proprietary
extraction processes is pleased to announce that Health Canada has
granted the Company their license to cultivate and produce oil
under the Access to Cannabis for Medical Purposes Regulations (the
"ACMPR"). The receipt of this license marks the third cannabis
license granted to the Company by Health
Canada.
The Company received the license to cultivate and
produce oil as a Licensed Producer ("LP") under the ACMPR through
it's wholly-owned subsidiary, Valens Agritech Ltd. ("VAL"). The
Company's 25,000 square foot facility in Kelowna BC, built
specifically for extraction, is now licensed under both the
Narcotics Control Regulations ("NCR") and the ACMPR, allowing the
Company to transition into Canada's emerging adult use market with
a regulatory advantage.
"With the two regulatory bodies merging
on October 17th, the receipt of our LP license is a step we deemed
necessary to ensure the Company has every opportunity to capitalize
on the adult-use, medical and retail cannabis space, both
domestically and internationally. Our license to cultivate and
produce oil under the ACMPR brings us one step closer to being able
to offer Valens-branded products directly to consumers here in
Canada. We are excited to finally share this milestone which plays
vitally into our business development plans." says Valens GroWorks
Corp. CEO, Tyler Robson.
The Company's latest efforts have
focused on expansion opportunities into international markets and
working on obtaining EU GMP certification. The receipt of the LP
license under the ACMPR, combined with the closing of the $27.3
million bought deal financing and the Company's recent procurement
of the exclusive Canadian rights to the production and distribution
of Tarukino Holdings Inc.'s proprietary emulsion technology SRSE™,
demonstrates Valens' ability to strategically position itself to
capitalize on every market available, both globally and
domestically.
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.
Click here to visit the Valens
GroWorks Corp. website
Valens Groworks (CSE:VGW)
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