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by Stockwatch Business Reporter
The TSX Venture Exchange gained 1.47 points to 619.55 Monday. Tyler Robson's shell graduate and Kelowna marijuana processing firm, Valens Groworks Corp. (VGW), gained 28 cents to $2.98 on 879,400 shares. It has arranged a deal to provide marijuana and hemp oil extraction services to The Green Organic Dutchman Holdings Ltd. (TGOD: $4.40) for at least two years. The Dutchman, an Ontario marijuana producer, went public on the Toronto Stock Exchange with a $115.01-million initial public offering at $3.65 in April, 2018.
Valens has arranged similar marijuana oil extraction deals with companies such as Harvest One Cannabis Inc. (HVT: $0.71) and GTEC Holdings Ltd. (GTEC: $0.60). Nevertheless, in the quarter ended Aug. 31, 2018, Valens lost $2.3-million on meagre revenue of $14,575. Valens's chief executive officer, Mr. Robson, has been with the company since 2014, the same year he received his bachelor's degree in biology.
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