Valens Signs Multi-Year Cannabis and Hemp Extraction Agreement with Tilray

Published: February 28, 2019

Valens Signs Multi-Year Cannabis and Hemp Extraction Agreement with Tilray

Valens GroWorks Corp., a multi-licensed, vertically integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing is pleased to announce that it has entered into a multi-year extraction services agreement (the “Agreement”), renewable annually after the initial two year term, to provide cannabis and hemp extraction services to Tilray Canada Ltd., a global leader in cannabis research, cultivation, production and distribution.

Under the terms of the Agreement, Valens will extract a minimum annual quantity of 15,000kg of dried cannabis and hemp. The Company will receive and process the cannabis and hemp on a fee for service basis into crude, distillate or other cannabis oil derivatives as required by Tilray before bulk shipping the desired product back to Tilray for final processing and sale.

“Partnering with Tilray to support their existing and emergent product offerings marks another milestone for Valens,” said Tyler Robson, CEO of Valens GroWorks Corp. “We take pride in our proprietary extraction processes and are honoured our best in class extraction capabilities have been recognized by Tilray, a pioneer in the global cannabis market, which we believe is a testament to the quality and reliability of our services.”