Valens GroWorks Corp (CVE:VGW) (OTCMKTS:VGWCF) has signed a white label agreement with the cannabis division of Iconic Brewing Company, an innovative Canadian beverage producer.
The five-year, binding cannabis-infused beverage deal will see Valens provide Iconic with extracts, formulation services and intellectual property for its SōRSE technology, a process that turns cannabis oil into water-soluble emulsion, in a statement released Thursday.
Iconic will market the end product in Canada, and the deal requires a minimum of 2.5 million cannabis-infused beverages be produced over the five years. Valens and Iconic will have the opportunity to expand the product offerings in the near future, the companies said.
"We are thrilled to partner with Iconic Brewing, one of the fastest growing alcohol beverage companies in eastern Canada, to help create their new line of cannabis-infused beverages," Valens CEO Tyler Robson said in the statement.
"Their ability to formulate and forecast trends is second to none, as demonstrated by the success of their current beverage products including Cottage Springs Vodka Soda, Picnic Wine Co, Liberty Village, and Cabana Coast.”
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