Speakeasy Cannabis Club Ltd., a late stage ACMPR applicant is pleased to announce it has entered into a letter of intent with Valens Groworks Corp., a company operating with a Dealer’s License for cannabis whereby SpeakEasy shall supply Valens with cannabis in the amount of 50% of the cannabis produced by SpeakEasy as categorized “for extraction purposes.” Additionally, SpeakEasy shall endeavour to source an interim supply of Cannabis for Valens with 2,500 – 5,000 kgs. of suitable material per month.
“This deal with the talented group at Valens represents a very important part of our strategy to enter the extract market soon and with a strong presence both domestic and internationally,” said CEO Marc Geen, “This deal gives SpeakEasy a high volume of assured sales and and will provide Valens a consistent supply of high quality extract material produced at our site in rock creek. When Health Canada approves outdoor cultivation, because of our location, SpeakEasy will be able to be one of the lowest cost producers in the world.”
Valens will use its dealer license of cannabis to facilitate a location for SpeakEasy, in its sole discretion. The dealer’s license will enable SpeakEasy to conduct R&D and store cannabis derivatives that are not currently covered under the Access to Cannabis for Medical Purposes Regulations. The dealer’s license also positions the business to export cannabis oils and concentrates to international markets, as well as to process natural health products. In connection with the proposed importation of cannabis products, SpeakEasy shall introduce Valens to SpeakEasy’s international distribution network.
“This deal with Valens is the first part of a series of arrangements that will bring both SpeakEasy and Valens to the forefront of the medical and recreational extract market both domestically and internationally,” continued Geen.
SpeakEasy and Valens agree to work together through this supply agreement and find a suitable partner with an ACMPR LP sales license to market and distribute product. Valens’s ongoing R&D and Dealers license will allow SpeakEasy to import/export key genetics earlier than previously expected; evolving product innovation and ultimately brand development on a global scale.