Extraction Agreement to enable next generation of premium vaporization experiences leveraging Tantalus Labs' Sungrown product range
VANCOUVER, May 28, 2019 /CNW/ - Tantalus Labs Ltd., a B.C.-based cannabis producer well-known for their Sungrown production methods and product quality, have announced that they have entered into an extraction services agreement with Valens Groworks, a leading British Columbian extraction specialist. Under the terms of this agreement, Valens GroWorks will extract oil from thousands of kilograms of Tantalus Lab's exclusive Sungrown cannabis product range each year as legally permitted.
Tantalus Labs' product line is derived from the producers' exclusive phenotypes, tailored to a diversity of user preferences. The extraction services agreement marks a significant milestone on the roadmap to expanding a premium flower product range into a variety of cannabis consumption formats. Tantalus Labs looks forward to accelerating the deployment of new products designed to excite cannabis consumers.
"Tantalus Labs aspires to deliver vaporization experiences that elicit unprecedented surprise and delight to a discerning user base. Valens is, in my mind, the ideal strategic partner to build these experiences with," says Dan Sutton, CEO of Tantalus Labs.
"Quality cannabis oil starts with quality flower, and we're excited to provide extraction services for Tantalus Labs, contributing to quality vaporization experiences," says Tyler Robson, CEO of Valens GrowWorks.
Tantalus Labs has designed and built the first federally licensed cannabis-tailored greenhouse of its kind in North America, and is committed to developing environmentally sustainable best practices for cannabis cultivation. For more information on Tantalus Labs, visittantaluslabs.com.
About Tantalus Labs Tantalus Labs is committed to Sungrown cultivation of world class cannabis products. Owned and operated in British Columbia, their team is a group of specialized scientists, engineers, and designers committed to the advancement of agricultural science. They believe that passion for natural, Sungrown cultivation methods will usher in a brighter future for clean cannabis.For more information, visit tantaluslabs.com.
About Valens GrowWorks Valens GroWorks Corp. is a research-driven, 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. For more information, please visit valensgroworks.com.
CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION
Tantalus Labs is not a reporting issuer (or the equivalent thereof) in any jurisdiction, is not listed on any stock exchange, and may never become a reporting issuer or listed on any stock exchange, therefore, any securities issued by Tantalus Labs will be subject to an indefinite hold period which may never expire.
This News Release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
This News Release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking information, including, without limitation, statements relating to Tantalus Labs': (i) business strategy, objectives, and expected growth; (ii) ability to secure and/or maintain all appropriate cannabis, industrial hemp, and/or vape product licenses in its jurisdiction(s) of operation; (iii) expectations concerning political and governmental/regulatory changes in in its jurisdiction(s) of operation; (iv) expectations concerning the size and growth of the cannabis, industrial hemp, and vape markets, and the effectiveness of Tantalus Labs' products and brand compared to its competitors' products and brands (v) ability to complete certain acquisitions and form certain strategic relationships, including its strategic relationship with Valens Groworks; and (vi) ability to design, develop, and commercialize its products and navigate potential growth opportunities.
Forward-looking information is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Tantalus Labs to be materially different from those expressed or implied by such forward-looking information, including without limitation: (i) Tantalus Labs' ability to secure and/or maintain all requisite cannabis, industrial hemp, and/or vape product licenses in its jurisdiction(s) of operation; (ii) the political and regulatory landscape governing the cannabis, industrial hemp, and vape product markets in Tantalus Labs' jurisdiction(s) of operation; (iii) continued growth of the cannabis, industrial hemp, and vape markets; and (iv) the effectiveness of Tantalus Labs' business strategy and its ability to bring its products to commercial production.
Readers are cautioned not to place undue reliance on the above forward-looking information, or any statements related thereto, which should not be construed as exhaustive and speak only as of the date of this News Release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking information is expressly qualified in its entirety by this cautionary statement.
SOURCE Tantalus Labs
For further information: For media inquiries, please contact: Julia Wilkinson, Julia Lynn PR, Principal, [email protected], 604-842-4945