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Valens Groworks Corp
Symbol VLNS
Shares Issued 125,879,520
Close 2020-03-05 C$ 3.20
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Valens Groworks launches pot-infused drinks

2020-03-05 09:23 ET - News Release

Mr. Tyler Robson reports


Valens Groworks Corp. has launched a line of cannabis-infused beverages, produced under a white label agreement with A1 Cannabis Company (a subsidiary of Iconic Brewing). The launch demonstrates Valens's leadership and excellence in the development and manufacturing of cannabis 2.0 products, as the company continues to successfully commercialize cannabis-infused beverages within the Canadian market.

The new line of beverages includes Basecamp, a CBD-forward iced tea, and Summit, a THC-forward citrus water. Basecamp will be available at select retailers throughout Ontario in the coming days, with additional markets expected to follow. Summit is expected to be available at select stores in the coming weeks.

Summit and Basecamp were developed using the SoRSE by Valens emulsion technology which transforms cannabis oil into water-soluble forms for use in beverages, edibles, topicals and other consumer products while eliminating cannabis taste, colour or smell. The technology provides a number of advantages including faster observed onset times compared with other infused beverages and edibles; a significant reduction of offset time; an ability to use lower doses of cannabinoids due to enhanced bioavailability; and increased consistency and stability with the potential to achieve more than one-year shelf life.

"Our agreement with A1 demonstrates the strategic value of partnering with leading companies that share our vision and reinforces our commitment to launching the cannabis 2.0 products that consumers are looking for," said Tyler Robson, chief executive officer of Valens. "This is the next step in the execution of our strategy to introduce innovative, high-quality products that deliver safe and customized user experiences."

The Canadian market for cannabis beverages is growing rapidly, and according to a report by Deloitte, it is expected to reach $529-million on an annual basis. Additionally, the firm projects that in Canada alone, consumers are expected to spend $1.6-billion annually on cannabis-extract-based products (including beverages).

Cole Miller, chief executive officer and founder of A1 Cannabis Company, said, "We are incredibly proud to introduce the Summit and Basecamp beverages in partnership with Valens, and are fully confident that they will meet the taste and quality expectations of Canadian consumers who have been waiting eagerly for cannabis-infused beverages."

Under the terms of the white label agreement between Valens and A1 Cannabis Company, a minimum of 2.5 million cannabis-infused beverages will be produced over five years, with the opportunity to expand on the partnership with new product offerings in the near future.

About Valens Groworks Corp.

The Valens Company is a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products.

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