KELOWNA, BC, March 31, 2020 /CNW/ - Valens GroWorks Corp.
(TSXV: VLNS) (OTCQX: VLNCF) (the "Company",
"Valens" or "The Valens Company"), a global leader in
the end-to-end development and manufacturing of innovative,
cannabinoid-based products, is pleased to announce it has received
conditional approval from the Toronto Stock Exchange ("TSX") to
uplist from the TSX Venture Exchange ("TSXV") to the TSX.
"Graduating to the TSX represents a significant milestone in our
efforts to broaden our appeal to a larger shareholder base and
raise the company's profile among the investment community," said
Tyler Robson, CEO of The Valens
Company. "Coming off a record year of growth for the company, this
uplisting will work to enhance the liquidity of our stock and
enable us to continue building long-term shareholder value."
Final approval of the listing is subject to the Company
fulfilling any remaining conditions as required by the TSX. The
Company expects to satisfy all of the requirements and will issue a
statement once a trading date has been confirmed by the TSX. Upon
completion of the final listing requirements, The Valens Company's
common shares and warrants will be delisted from the TSXV and
commence trading on the TSX under the trading symbols "VLNS" and
"VLNS.WT." The Company's shares will continue to trade on the
OTCQX market under the symbol 'VLNCF'.
About The Valens Company
The Valens Company is a global leader in the end-to-end
development and manufacturing of innovative,
cannabinoid-based products. The Company is 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 and manufacturing. 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. The Valens Company currently
offers a wide range of product formats, including tinctures,
two-piece caps, soft gels, oral sprays and vape pens as well as
beverages, concentrates, topicals, edibles, injectables, natural
health products and has a strong pipeline of next generation
products in development for future release. Finally, the
Company's wholly-owned 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. The Company expects to
formally change its name in due course. For more information,
please visit http://thevalenscompany.com. The Company's
investor deck can be found specifically at
http://thevalenscompany.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 Company 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 TSXV or other regulatory authority has not reviewed,
approved or disapproved the contents of this press release. We seek
Safe Harbour.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/the-valens-company-receives-conditional-approval-to-graduate-to-the-tsx-301032197.html
SOURCE The Valens Company