Valens GroWorks Announces AGM Date, Corporate Developments

KELOWNA, BC, Aug. 3, 2018 /CNW/ - Valens GroWorks Corp. (CSE: VGW) (the "Company" or "Valens"), a multi-licensed, vertically integrated provider of cannabis products and services utilizing proprietary extraction processes, is pleased to announce its AGM and other corporate developments.

2018 Annual General Meeting

The Company will host its Annual General Meeting of shareholders on Friday October 5, 2018 at 11:00am PDT at the Four Points Kelowna Airport, 5505 Airport Way, Kelowna, BC.

Resignation of Directors

The Company announces a change in the composition of the Board of Directors with the resignation of Mr. Gervais. Management and the Board of Directors would like to thank Mr. Gervais for his contribution to the Company.

Option Grant

The Company granted 625,000 options to purchase common shares of the Company exercisable at a price of $1.07 per share and expiring on July 9, 2023, to an officer and employees of the Company. The options vest in stages over the course of a one year period and are granted pursuant to the terms of the Company's stock option plan, subject to regulatory approval.

About Valens GroWorks

Valens GroWorks Corp. is a vertically integrated provider of Canadian cannabis products developed from our proprietary extraction techniques, with three wholly-owned subsidiaries located in and around Kelowna, BC. Subsidiary Valens Agritech has initiated cannabis production, processing and sales under a Health Canada Dealer's Licence, which includes a supply agreement with Canopy Growth Corporation under their extensive CraftGrow distribution network. Subsidiary Supra THC Services is a Health Canada licensed ISO 17025 accredited cannabis testing lab providing sector-leading analytical services and has partnered with Thermo Fisher Scientific to develop a Centre of Excellence in Plant Based Medicine Analytics. Subsidiary Valens Farms is in the process of becoming a purpose-built facility in compliance with European Union (EU) Good Manufacturing Practices (GMP) standards, ensuring the product from this facility can be exported anywhere in the world where Cannabis is nationally legal for medical or adult usage purposes. For more information, please visit http://valensgroworks.com, http://www.valensagritech.com and http://www.suprathc.ca.

Notice regarding Forward Looking Statements

This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

The CSE or other regulatory authority has not reviewed, approved or disapproved the contents of this press release. We seek Safe Harbour.

SOURCE Valens GroWorks Corp.