KELOWNA, BC, Aug. 14, 2019 /CNW/ - Valens GroWorks Corp. (TSXV: VGW) (OTC: VGWCF) (the "Company" or "Valens"), a vertically integrated provider of industry leading extraction products and services; including a diverse suite of extraction methodologies, next generation cannabinoid delivery formats and an ISO 17025 accredited analytical lab, is pleased to announce today that it has been added to The Cannabis ETF (NYSE: THCX) ("THCX"), which trades on the New York Stock Exchange.
"Valens' inclusion in The Cannabis ETF will provide us with a new opportunity to broaden our reach and increase our profile among investors in the U.S. who are looking for the value our platform provides, particularly as we continue to accelerate our business activities globally" said Tyler Robson, CEO of Valens.
THCX tracks the Innovation Labs Cannabis Index, which is a modified market capitalization weighted index, with a portfolio of 36 stocks that are expected to benefit from growth of the legal marijuana, CBD and hemp industries. Valens' inclusion is part of THCX's expansion to include various cannabis industry sub-themes, such those at the crossroads of science and technology, which is intended to appeal to investors who are looking for differentiated exposure outside of a traditional seed-to-sale story. The index rebalances on a monthly basis and it is currently considered the lowest cost passively managed US-listed cannabis ETF.
About Valens GroWorks
Valens GroWorks Corp. (TSXV:VGW) (OTC:VGWCF) is a multi-licensed, vertically-integrated cannabis company focused on being the partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including CO2, ethanol, hydrocarbon, solvent-less and terpene extraction, analytical testing, formulation and white label product development. Valens is the largest third-party extraction Company in Canada with an annual capacity of 425,000 kg of dried cannabis and hemp biomass at our purpose-built facility in Kelowna, British Columbia which is in the process of becoming European Union (EU) Good Manufacturing Practices (GMP) compliant. Additionally, our 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. 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.
For further information: Scott Young, Valens GroWorks Corp., Telephone: +1.705.888.2756; U.S. / Europe Investors, KCSA Strategic Communications, Phil Carlson / Elizabeth Barker, [email protected], 212.896.1233 / 212.896.1203; Media, KCSA Strategic Communications, Anne Donohoe, [email protected], 212.896.1265