Valens expands research collaboration with Thermo Fisher Scientific
KELOWNA, BC, Nov. 29, 2018
KELOWNA, BC, Nov. 29, 2018 /PRNewswire/ - Valens GroWorks Corp. (CSE: VGW, OTC: MYMSF) (the "Company" or "Valens"), a 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 it has established an expanded research collaboration agreement with Thermo Fisher Scientific.
As part of the collaboration, Valens will utilize Thermo Fisher's instruments and consumables to develop and validate analytical methods for the study of cannabis. The findings of this collaboration will be co-promoted through application notes, publication of peer-reviewed articles, conference presentations, and webinars.
"We are excited to expand our partnership with Thermo Fisher Scientific and capitalize upon our mutual interests to strengthen industry testing standards and increase patient safety," says Tyler Robson, CEO of Valens GroWorks. "This research collaboration showcases the level of expertise of our scientific personnel and their drive to lead the industry in the analysis of cannabis. Our ISO 17025 accredited laboratory combined with the resources and scientific experience available from Thermo Fisher puts us in a great position to execute on our initiatives in the analytical testing space."
"We're committed to providing a one stop solution for cannabis safety testing across Canada and advancing plant research. Our collaboration with Valens will allow us to improve workflows and validate methods," says Keith Bisogno, Thermo Fisher Scientific Corporate Senior Director for market development, "With our comprehensive portfolio of analytical instruments and broad line of laboratory products Thermo Fisher can uniquely support Valens' vision for its Centre of Excellence for Plant Based Science."
The Company granted 50,000 options to a consultant to purchase common shares of the Company, exercisable at a price of $1.25 per share, expiring on November 27, 2020. The options were issued pursuant to the terms of the Company's stock option plan and are subject to regulatory approval.
About Thermo Fisher Scientific
Thermo Fisher Scientific is the world leader in serving science, with revenues of more than $20 billion and approximately 70,000 employees globally. Our mission is to enable our customers to make the world healthier, cleaner and safer. We help our customers accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity. Through our premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services – we offer an unmatched combination of innovative technologies, purchasing convenience and comprehensive services. For more information visit https://www.thermofisher.com/us/en/home/products-and-services/promotions/industrial/cannabis-testing-canada.html
About Valens GroWorks
Valens GroWorks Corp. is a research-driven, vertically integrated provider of Canadian cannabis company focused on downstream secondary extraction methodology, distillation and cannabinoid isolation and purification, with three wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech ("VAL") holds a standard processing and standard cultivation license under the Cannabis Act. VAL also has a supply agreement with Canopy Growth Corporation under their extensive CraftGrow distribution network. Subsidiary Valens Labs is a licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services. 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 StatementsThis 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.
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SOURCE Valens GroWorks Corp.