Valens GroWorks (TSXV: VGW) (OTCQX: VGWCF) announced that it has received an amended license from Health Canada related to the sale of its oil products as well as reported an update on the progress to build a white label manufacturing facility.
New License a Significant Milestone
The new license allows Valens to manufacture and supply oil products directly to provincial distributors and other authorized Canadian retail supply channels. The company will immediately start expanding services provided to its white label manufacturing partners, delivering retail-ready products including tinctures and gel caps.
In addition, the company plans to further expand its retail-ready product offerings to include vaporizer cartridges, beverages, topicals and other desired products as permitted by Health Canada.
“This amended license represents another significant milestone for the Company” stated Tyler Robson, the CEO of Valens.
“We are excited to be able to utilize this license, our industry-leading extraction, IP and formulation services along with our strategic partnerships with companies like Shoppers Drug Mart, to provide our white label partners access to a comprehensive service offering,” Robson added.
White Label Facility
The construction of the adjoining state-of-the-art white label facility remains on time and on budget, according to Robson.
The facility will complete the construction by the first half of 2020. It is expected to increase extraction capacity to over 1,000,000kg per year through further expansion of the company’s ethanol and hydrocarbon capabilities.
In addition, the manufacturing facility will substantially increase product development and manufacturing volumes of vape pens, beverages, concentrates, edibles, and topicals. It will include robotics and automated machinery to enhance throughput and efficiencies of customized products for our customers.
“This is a purpose-built facility to EU GMP standards and is expected to be one of the largest and most diverse third-party cannabis product development facilities in Canada,” Robson added.
“We will be expanding our offerings to our customers to also include customized formulations, emulsion, terpene enhancement, and centrifugal partition chromatography that will allow our customers to target specific desired cannabinoids as the market offerings mature, such as CBG, THCV or CBN, as well as separate out unwanted contaminants in oil including pesticides and microbials,” Robson noted.