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On Tuesday, Kelowna based company Valens Groworks announced a multi-year services agreement with Alberta licensed cannabis producers Sundial Growers.
Under the deal’s terms, Sundial will ship “bulk quantities” to Valens to be processed into cannabis resin and other cannabis-oil derivative products.
Valens Groworks focuses on extraction, distillation and cannabinoid purification at its labs located in Kelowna.
The company’s stock (VGW:CSE) trading on the Canadian Security Exchange shot up over 20% based on the news.
“We know that oils are in high-demand and with Valens’ capacity and expertise in extraction, consumers and medical patients will soon be able to benefit from Sundial’s award-winning genetics,” said Sundial CEO Torsten Kuenzlen.
To learn more about Valens Groworks, click here.