Valens Announces 5 Year White Label Cannabis Infused Beverage Contract with Iconic Brewing Company's Cannabis Division
KELOWNA, BC, Sept. 12, 2019 /CNW/ - Valens GroWorks Corp. (TSXV: VGW) (OTCQX: 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 it has entered into an arm's length, binding, five-year, white label cannabis infused beverage contract with the cannabis division of Iconic Brewing, one of the leading innovative beverage companies in Canada.
Valens is excited to announce a white label agreement with Iconic to provide high quality extracts, formulation services, and SōRSE™ emulsion IP for its cannabis infused beverages. Iconic will brand and market the final product across Canada. Under the terms of the agreement, a minimum of 2.5 million cannabis infused beverages will be produced over five years with the opportunity to expand on the partnership with new product offerings in the near future.
"We are thrilled to partner with Iconic Brewing, one of the fastest growing alcohol beverage companies in eastern Canada, to help create their new line of cannabis-infused beverages," said Tyler Robson, CEO of Valens. "Their ability to formulate and forecast trends is second to none, as demonstrated by the success of their current beverage products including Cottage Springs Vodka Soda, Picnic Wine Co, Liberty Village, and Cabana Coast. To service this agreement, we will be using our proprietary emulsion solution, SōRSE™ Technology, which creates oil-based ingestible products, including beverages, that offer a consistent experience with fast onset and offset."
Cole Miller, who leads Iconic's cannabis division, commented "We are extremely proud to partner with Valens on a new line of cannabis-infused beverages. We have an unwavering commitment to fostering a safe and comfortable experience for new cannabis users through low dosage and unparalleled product education. Coupled with Valens' proprietary emulsion solution, SōRSE™ Technology, we are excited to deliver on our promise of developing one of the world's most sought-after cannabis infused beverage lines."
About Iconic Brewing Company
Iconic Brewing Company is headquartered in Toronto, Ontario. With current beverage alcohol distribution in Ontario, Manitoba, Saskatchewan, Nova Scotia, New Brunswick, Alberta and British Columbia, Iconic Brewing Company has quickly emerged as a leader in Canada's "better for you" beverage alcohol space, and has planted strong roots and relationships for a successful launch of their cannabis division. Iconic Brewing Company's cannabis division was founded on the same principles, creating better-for-you cannabis products, built for the healthy and active consumer, to seamlessly integrate into their daily routines in an effort to maximize recovery and recreation. Brands to launch will include Summit, a THC forward line of products, Basecamp, a CBD-only line of products, and Counting Sheep, a line of products to be added to the nighttime routine.
About Valens GroWorks
Valens GroWorks Corp. (TSXV:VGW) (OTCQX: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.
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
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