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Valens Signs Multi-Year Cannabis Extraction Agreement with Sundial Growers

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Valens GroWorks Corp. (CNW Group/Valens GroWorks Corp.)

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KELOWNA, BC, Jan. 21, 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 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 their 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.”

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