Valens Groworks Corp (OTCMKTS:VGWCF) has finalized a multi-year extraction service deal with Tantalus Labs to offer cannabis extraction services. Dan Sutton, the CEO of Tantalus, expressed that they aspire to offer unparalleled vaporization experiences their customers. Valens is their best in breed associate to form these experiences with. The company has all required approvals from Health Canada to meet carry its obligations under the deal.
Tantalus focus remains on Sungrown cultivation of leading cannabis products. Owned and run in British Columbia, they have an exceptional team of specialized scientists, designers, and engineers committed to the development of agricultural science. They consider that passion for Sungrown cultivation methods will lead in a promising future for clean cannabis.
Valens reported that the new agreement has a preliminary term of two years starting from the first shipment date from Tantalus. Tantalus will provide the cannabis biomass to Valens, which the later will process on a fee for service basis into top quality distillates and resins. This output will be achieved by using the firm’s proprietary extraction processing ways.
Tyler Robson, the CEO of Valens GroWorks, expressed that they are privileged to be recognized by Tantalus. They are one of the industry’s leading players with an exceptional flower portfolio meant for both recreational and medical users here in Canada. They intend to associate with the team at Tantalus and work closely as they expand their portfolio under the predicted new regulations in the fall of 2019.
Valens reported that the deal has provisions under which the agreement may be ended with 180 days written notice once they complete the one year to the deal. They expect to get and start processing the shipment in fiscal Q3 2019.
Focus on growth opportunities
More recently, Valens reported that they have appointed Jeffrey Fallows as company’s President, effective June 1, 2019. This new change comes as the company’s focus moves on capital markets strategy, global and domestic growth opportunities, and overall corporate strategy. Mr. Fallows is a proficient finance professional with experience of more than 17 years in the field of financial advisory mandates in the growing cannabis, industrial products, and consumer products industries.