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The Company recently completed the acquisition of Valens Agritech Ltd. (“VAL”). VAL is a biotechnology company based in the Okanagan Valley of British Columbia, focused on cannabis cultivation and research, with assets and improvements that include a state-of-the-art 17,000 square foot R&D facility located in Kelowna, British Columbia.
VALENS GROWORKS LICENSING INSPECTION COMPLETED
The inspection is the final stage required to achieve licensing under our application for a Controlled Drugs and Substances Dealer’s Licence to enable the cultivation and processing of marijuana (such as creating extracts or derivatives) for the purpose of research, for processing manufacturing derivatives, and for transporting product to other locations (including related packaging, possession, sale, delivery and research activities).
Final pre-inspection preparation included the installation of significant enhanced physical security measures, the establishment of specified record keeping procedures, and the engagement of a Qualified Person In Charge (QPIC).
The Company is therefore pleased to announce Dr. Yasantha Athukorala, Ph.D. as the QPIC for VAL, as well as VAL’s Chief Scientific Officer. Dr. Athukorala is an accomplished scientist with outstanding research and leadership skills and more than 7 years of experience investigating bioactive compounds from agricultural bio-resources. With a unique background of Biotechnology, Chemistry and Bio-resource Technology knowledge, Dr. Athukorala brings a demonstrated record of project and publication success, credited with discovering naturally-occurring bioactive compounds using enzymatic digestion, bioassayguided extraction and fractionation procedures with potential commercial applications in food, health and bio-resource utilization industries.
Dave Gervais, President of VAL., stated, “We warmly welcome Dr. Athukorala to the Valens team as we gear up to commence operations pending receipt of Health Canada’s Dealer’s Licence approval. Yasantha is a dedicated and creative scientist with superb transdisciplinary communication, relationship-building and team leadership attributes, and will be supported by a fully qualified alternate QPIC as we ramp up operations”.
Post-licensing, Valens anticipates participation in clinical trial programs researching the efficacy of medical cannabis for certain indications, and will also be seeking to capture a broad spectrum of medical marijuana users, as well as recreational users once legalized, in pursuit of its farm to pharma objectives.
Robert van Santen Chief Executive Officer
For further information,
Please contact: Greg Patchell Telephone: +1.250.860.8634