Valens announces formation of advisory board

KELOWNA, BC, Oct. 18, 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 it has formed an advisory board to assist in implementing the Company's current strategic plans and identify means to capitalize on future growth opportunities. 

The advisory board will be tasked with:

• Leveraging marketing initiatives;
• Assisting in the development of a consumer-packaged goods strategy for Valens branded products;
• Supporting international expansion plans; and
• Developing strategic relationships in the industry.

The Company has initially appointed Mr. Phil Donne and Mr. Brett Channer to the advisory board.

Mr. Donne's background in the food and brand / communication industries extends over 30 years, spans 8 countries and incorporates rebrands, restructures, re-launches and bold brand and communication initiatives. From foundation experience at General Mills and Coca Cola up to his last role as President / CEO of Campbell Company of Canada, Mr. Donne's bias has been to truly push the status quo and to spark innovation to achieve new levels of potential and awareness.  His years at Campbell's witnessed a spurring of the health and wellness renovation and relaunch of the entire soup portfolio.  At Campbell's, Mr. Donne also led the first "meal replacement" offering in a can that was used to help in the fight against hunger both domestically and abroad.  With Kellogg's, Mr. Donne gained experience across Europe as President in several posts. Returning to Canada as CEO of Kellogg Canada, he led a relaunch of the business that featured the breakthrough introduction of North America's first "meal replacement" cereal, Vector which remains the single largest new cereal product of the last 20 years.

Mr. Channer has over 25 years of marketing industry experience leading businesses as the CEO, President, and Chief Creative Officer and is now the founder of Mass Minority, a media studio with patent pending technology that works with creative content to outperform the market. Mass Minority is enjoying exponential growth and in less than three years has become a top agency in Canada.  Before starting Mass Minority, Mr. Channer created the agency start up Red Lion for the Publicis World Wide Group, a digitally rooted company that shaped brand behaviour. Profitable in its first year, Red Lion became a change agent for Publicis and for clients seeking a new way to connect with customers.  At Saatchi & Saatchi, Mr. Channer worked into the role of CEO and CCO. He was responsible for leading Saatchi Canada to "Most Improved Agency in Canada" as recognized in Strategy Magazine, as well as one of the top 10 most creative agencies in Canada. Becoming one of the top performing offices for growth in the Saatchi Network, Mr. Channer was the first Canadian to be invited onto the Saatchi Worldwide Board where he had shared responsibilities in the company's global performance.

"The creation of this advisory board marks the next exciting stage of development for Valens. With the initial appointment of Phil and Brett, each of whom bring a unique skillset and vast experience to the Company, we look forward to working with these leaders to shape the future of marketing in the Canadian cannabis space and develop a leading Valens product brand we can proudly share with the market," says Valens GroWorks Corp. CEO, Tyler Robson.

Option Grant

The Company granted 2,652,000 options to purchase common shares of the Company exercisable at a price of $1.95 per share and expiring on October 13, 2023, to employees, officers and consultants of the Company. The options vest quarterly over a three-year period and are granted pursuant to the terms of the Company's stock option plan, subject to regulatory approval.

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 ("VAL") holds a license to cultivate and produce oil as a Licensed Producer ("LP") under the ACMPR, and a Dealer's License under Health Canada.  VAL also has 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. 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.

The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.

SOURCE Valens GroWorks Corp.

Scott Young, Telephone: [phone]