Valens GroWorks Corp. (TSX:VLNS) (OTC:VLNCF) just recently announced a custom manufacturing agreement with Verse Cannabis to custom-manufacture a range of innovative, new cannabis products, including hydrocarbon-derived crumble.
Here’s what you need to know…
- Under the initial 5-year agreement, Valens GroWorks will manufacture and distribute a range of cannabis products, such as hydrocarbon-derived crumble and more.
- The first line of products will be manufactured under the brand Verse Originals, which will include a range of high-quality essential products, such as vapes and oils.
- To follow, Valens GroWorks will produce and manufacture a line of innovative formats under the brand Verse Concentrates, including live resin vape pens and various water-based products leveraging SōRSE by Valens emulsion technology.
- Under the terms of the custom manufacturing agreement, Valens will pay Verse royalties over the five-year term.
- According to Valens, due to Canada’s phased rollout of cannabis concentrates, the illicit market for these products continue to thrive and outperform these products in the legal cannabis market.
- Valens GroWorks believes that manufacturing popular, advanced concentrate products can put into motion an major consumer shift from the illegal market to the legal market.
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