Valens GroWorks Corp. (CSE: VGW,OTC: VGWCF) (the “Company” or “Valens“), a multi-licensed, vertically integrated provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing is pleased to announce a strategic secondary purchase and sale transaction.
The transaction includes a total of 3,500,000 shares at a price $2.05 per share between strategic purchasers (the “Buyers”) and 1009638 B.C. Ltd. (the “Seller”). The Buyers are independent in nature as they are not directly associated with a third party licensed producer. On the close of the transaction, the Seller hereby represents that it continues to be a significant shareholder of the Company and has opted to lock-up the remaining shares they hold in Valens for 6 months showing its long term commitment to the Company. The Buyers will also lock-up shares for a period of 4 months on the close of the transaction. AltaCorp Capital Inc. has acted as agent in the transaction.
“We are excited to announce the strategic secondary purchase and sale transaction with key institutions and shareholders,” says Tyler Robson, CEO of Valens GroWorks Corp. “We are appreciative of our largest shareholder’s continued commitment to the long term vision and strategy of the company and welcome our new strategic shareholders.”
