Mr. Tyler Robson reports

VALENS SIGNS LETTER OF INTENT WITH COLOMBIAN-BASED ETICANN

Valens Groworks Corp. has signed a letter of intent with Colombian-based licensed producer Eticann SAS Zomac for:

• The company to purchase cannabis materials from Eticann;
• The exclusive right for the company to provide extraction services for Eticann's premium cannabis oil product offerings;
• The provision of extraction service expertise to Eticann for toll processing services in Colombia and surrounding markets;
• Option to purchase up to 50 per cent of Eticann's issued and outstanding shares.

This announcement marks Valens's first international supply and extraction agreement to date, capitalizing on the company's Health Canada dealer's licence.

"We are excited to firmly plant our roots in international markets and feel honoured to be chosen as a trusted partner by Eticann. Eticann is a well-established, fully licensed cultivation and extraction facility, which combined with Valens's expertise in toll processing and small batch extraction, will provide Eticann with the intellectual resources needed to expedite a premium, full-service product and extraction services offering to Colombia and surrounding markets," said Tyler Robson, chief executive officer, Valens Groworks. "Signing this letter of intent with Eticann secures Valens an opportunity to acquire an ownership position in the Colombian cannabis market, establishing our dedication and commitment to providing adult consumers worldwide with the highest quality extracted cannabis products."

"Eticann currently occupies over 150 hectares of cultivation space in Colombia's prime agricultural region, with another 10,000 hectares of organic farmland already secured to support future expansion. We are pleased to secure Valens as a trusted international partner to support our future growth initiatives and look forward to further capitalizing on our large production capacity, experienced management team and proven agricultural practices," said Rodrigo Tamayo, legal representative for Eticann SAS Zomac.

Valens and Eticann will be combining resources including Valens's leadership in extraction and Eticann's large scale seed-to-sale processing capabilities. Valens continues to explore partnership opportunities internationally and domestically by capitalizing on its expertise in extraction services.

About Valens Groworks Corp.

Valens Groworks is a vertically integrated provider of Canadian cannabis products developed from its proprietary extraction techniques, with three wholly owned subsidiaries located in and around Kelowna, B.C. 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 under its 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.

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