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Valens gets approval to list as Tier 1 life sciences issuer

The cannabis extraction company has received conditional approval to list shares and warrants of the company on the TSX Venture Exchange as a Tier 1 life sciences issuer

Valens testing
Valens is a multi-licensed provider of cannabis products and its services are focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing

Valens GroWorks Corp (CSE:VGW) (OTCMKTS:VGWCF) announced Monday that it has received conditional approval to list on the TSX Venture Exchange as a Tier 1 life sciences issuer.

Shares of Valens were on the rise, up 0.3% at C$3.45 in Toronto. 

The listing is subject to the company fulfilling certain requirements of the TSXV in accordance with the terms of its conditional approval letter dated June 14, 2019. 

READ: Buds & Duds: Cannabis stocks slip but Valens shares jump on expanded extraction deal with Tilray

"We are very pleased to have received conditional approval from the TSXV and believe that this listing will provide the company and its shareholders with many advantages, including greater visibility and enhanced market access for Canadian and international investors," says Tyler Robson, CEO of Valens GroWorks Corp.

The company said the common shares will trade under the trading symbol VGW. 

The firm also said its second-quarter financial results will be released after the market close on July 15, 2019.

Management also confirmed there are 3.75 million common shares reserved for issuance under certain management agreements as previously disclosed in the company's financial statements for the year ended November 30, 2018 and the first quarter ended February 28, 2019.

Kelowna-based Valens is a multi-licensed provider of cannabis products and its services are focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing. Valens has extraction processing and supply agreements with a number of leading producers across Canada.

Contact Katie Lewis at katie@proactiveinvestors.com

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Price: 1.86 CAD

TSX:VLNS
Market: TSX
Market Cap: $238.73 m
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