KELOWNA, BC, Sept. 5, 2018 /CNW/ - Valens GroWorks Corp. (CSE: VGW) (the "Company" or "Valens"), a multi-licensed, vertically integrated provider of cannabis products and services utilizing proprietary extraction processes is pleased to announce that Mr. Chris Irwin, Mr. Nitin Kaushal, Mr. Ashley McGrath, and Mr. Chris Buysen have joined the board of directors of the Company. Mr. John Cullen has resigned as a director of the Company and Dr. Robert O'Brien has also resigned as a director of the Company and from his position as Chief Science Officer.
"It has been a pleasure to work with the dedicated and knowledgeable management team at Valens. I am confident that the company is in excellent hands to capitalize on the growth opportunities that are before it," commented John Cullen.
Management and the board of directors would like to thank Mr. Cullen and Dr. O'Brien for their significant contributions to the Company.
Mr. Irwin is a partner in the Toronto law firm of Irwin Lowy LLP focused on securities and corporate/commercial law. He advises a number of public companies on a variety of matters including continuous disclosure and regulatory matters, reverse takeover transactions, initial public offerings and takeover bids. Mr. Irwin is also a director and officer of several public companies.
Mr. Kaushal serves as Managing Director, Corporate Finance at PwC Canada. He has over 30 years of finance and investment expertise including having held a number of senior roles with Canadian investment banks as well as various roles within the private equity/venture capital industry. Mr. Kaushal sits on the boards of numerous public and private companies. He holds a Bachelor of Science (Chemistry) degree from the University of Toronto and is a CPA, CA.
Mr. McGrath has been involved in real estate development for 14 years as the President and Owner of Glencoe Developments Inc. He has overseen all aspects of the development business including land acquisition, finance and sales of over 850,000 square feet of development space. He oversees the management of a large rental portfolio of residential and commercial real estate and is a shareholder in an agribusiness operating over 400,000 square feet of indoor livestock production as well as a 23,000 acre grain farm.
Mr. Buysen has held numerous senior financial positions with reporting issuers over the past 15 years including his current role as Chief Financial Officer of the Company. He has also held a leadership role in a multi-family office, advising high net worth families on investment, business and other financial matters. Mr. Buysen has a Bachelor of Commerce degree from the University of Alberta, a Master of Professional Accounting degree from the University of Saskatchewan and is a CPA, CA.
"Given the company's aggressive vertically integrated expansion plans, both domestically and internationally, it was a top priority to strengthen our board of directors to support these initiatives," commented Tyler Robson, Valens' CEO.
About Valens GroWorks
Valens GroWorks Corp. is a vertically integrated provider of Canadian cannabis products developed from our proprietary extraction techniques, with three wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech has initiated cannabis production, processing and sales under a Health Canada Dealer's Licence, which includes a supply agreement with Canopy Growth Corporation under their extensive CraftGrow distribution network. Subsidiary Supra THC Services 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 Medicine Analytics. 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, http://www.valensagritech.com and http://www.suprathc.ca.
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, Telephone: +1.705.888.2756