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Valens Groworks Corp
Symbol VGW
Shares Issued 60,377,388
Close 2017-10-25 C$ 0.96
Market Cap C$ 57,962,292
Recent Sedar+ Documents

ORIGINAL: Valens Groworks arranges $500,000 private placement

2017-10-25 19:39 ET - News Release

Received by email:

File: NROCT25.docx


THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

For Immediate Release                                                                                                 
--->           October 25, 2017

VALENS GROWORKS ANNOUNCES PRIVATE PLACEMENT, INSIDER PARTICIPATION

Vancouver, B.C., October 25, 2017 - Valens GroWorks Corp. (CSE: VGW) (the "Company" or "Valens"), a multi-licenced, ve
--->rtically integrated provider of cannabis products, is pleased to announce a follow up non-brokered private placement o
--->f up to 500,000 units (the "Units") at a price of $1.00 per Unit for gross proceeds of up to $500,000 (the "Offering")
--->.  
The net proceeds of the Offering will be used for additional growing and oil extraction capacity at existing facilitie
--->s, and general corporate purposes. The Company anticipates significant insider and contractor participation in the Off
--->ering.
Each Unit will consist of one common share of the Company (a "Common Share") and one-half of a Common Share purchase w
--->arrant (each whole warrant, a "Warrant").  Each Warrant will entitle the holder thereof to purchase one Common Share a
--->t a price of $1.50 for a period of 12 months from the closing of the Offering, subject to the acceleration provision d
--->escribed below. The Units will be made available by way of prospectus exemptions in Canada and in such other jurisdict
--->ions as the Company may agree where the Units can be issued on a private placement basis, exempt from any prospectus, 
--->registration or other similar requirements.  
The Company will be entitled to accelerate the expiry date of the Warrants to the date that is 30 days following the d
--->ate the Company issues a news release announcing that the published closing price of the Common Shares on the Canadian
---> Securities Exchange (the "CSE") has been equal to or greater than $2.00 for ten consecutive trading days after the ho
--->ld period on the Common Shares has expired.  
Closing of the Offering is subject to regulatory approval including that of the CSE. The Company may pay a finder's fe
--->e on the non-insider portion of the Offering within the amount permitted by the policies of the CSE.  
All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a
---> day from the date of issuance in accordance with applicable securities legislation.  
About Valens GroWorks Corp.
Valens GroWorks Corp. is a CSE-listed biotechnology company with an aggressive buildout strategy in progress. The Comp
--->any seeks to capture a broad spectrum of medical cannabis users, and adult recreational users once legalized, as well 
--->as clinical trial and R&D clients, in pursuit of its ambitious "plants to premium products" objectives. The Company al
--->so provides management, consulting, testing and support services to domestic and international licensees, as well as f
--->inancial support to fully-licensed third-party operations.
The Company operates through two wholly-owned subsidiaries based in the Okanagan Valley of British Columbia: Valens Ag
--->ritech Ltd. ("VAL") holds a Health Canada Dealer's License and is commencing cannabis production and further expansion
--->, and Supra THC Services Inc. ("Supra"), a Health Canada licensed cannabis testing lab providing sector-leading analyt
--->ical and proprietary services to Licensed Producers and ACMPR patients. 
Both subsidiaries are involved in a collaborative research partnership with British Columbia-based universities UBC Ok
--->anagan and Thompson Rivers to explore the vast range of bioproducts that can be made from cannabis plant materials. Su
--->pra, in collaboration with Thermo Fisher Scientific (Mississauga) Inc., is developing a "Centre of Excellence in Plant
---> Based Medicine Analytics" at the Company's 17,000 square foot facility located on two acres in Kelowna. For more info
--->rmation, please visit http:/valensgroworks.com, http://www.valensagritech.com and http://www.suprathc.ca.
On behalf of the Board of Directors,
VALENS GROWORKS CORP.

(signed) "Rob van Santen" Chief Financial Officer
For further information, please contact:
Greg Patchell  Telephone: +1.250.860.8634
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", "cont
--->inue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "po
--->sitioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statem
--->ents are only predictions. Various assumptions were used in drawing the conclusions or making the projections containe
--->d 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 uncertaint
--->ies and other factors that could cause actual events or results to differ materially from those projected in the forwa
--->rd-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.




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