Valens Receives Conditional Listing Approval on TSXV and Accelerates Q2 Filing Date
KELOWNA, BC, June 17, 2019 /PRNewswire/ - 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 received conditional approval to list the common shares and warrants of the Company on the TSX Venture Exchange as a Tier 1 life sciences issuer. The listing is subject to the company fulfilling certain requirements of the TSXV in accordance with the terms of its conditional approval letter dated June 14, 2019.
The Company is actively working to satisfy these conditions and management is confident that all conditions for listing will be met in the coming weeks. Upon obtaining final approval, the Company will issue a further press release to inform shareholders when it anticipates that its common shares will commence trading on the TSXV. The Company anticipates that the common shares will trade under the trading symbol "VGW" and the warrants will trade under the symbol "VGW.WT".
Management also confirms there remains 3,750,000 common shares reserved for issuance under certain management agreements as previously disclosed in the Company's financial statements for the year ended November 30, 2018 and the first quarter ended February 28, 2019.
In addition, the Company is excited to announce that it has expedited the release date of its second quarter financial results, which will be released after the market closes on July 15, 2019.
"We are very pleased to have received conditional approval from the TSXV and believe that this listing will provide the Company and its shareholders with many advantages, including greater visibility and enhanced market access for Canadian and international investors," says Tyler Robson, CEO of Valens GroWorks Corp.
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 extraction processing and 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 in 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 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 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.
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SOURCE Valens GroWorks Corp.