The Green Organic Dutchman Holdings Ltd. (the “Company” or “TGOD”) (TSX:TGOD) (US:TGODF) is pleased to announce that it has entered into a multi-year extraction services contract with Valens GroWorks Corp. (CSE: VGW) (OTC: VGWCF) (“Valens“).
Valens is a licenced provider of cannabis products and services specializing in various proprietary extraction, distillation, cannabinoid isolation and purification technologies. Partnering with Valens will accelerate TGOD’s Canadian hemp strategy and allow for early market entry of TGOD’s organic hemp-derived CBD product lines within the coming months.
Under the terms of the initial 2-year agreement, Valens will process, extract and purify TGOD’s cannabis and hemp biomass under conditions specified by TGOD as demanded by final product manufacturing and formulation requirements. TGOD will supply Valens with significant quantities of cannabis and hemp and Valens will provide extraction purification services processing the cannabis and hemp into premium quality resins and distillates. TGOD intends to use the concentrated cannabinoid resins and distillates to produce oils, sprays and capsules as well as oils for vaporization and future edible, beverage and topical products.
TGOD has been working closely with Valens to help expedite the pathway to organic certification for Valens organic processing methodologies. Upon certification, TGOD will have exclusive access to services provided by Valens for certified organic extraction processing for a period of 1 year.
The demand for non-intoxicating hemp-derived CBD products has been strong and supported through significant patient and consumer research. Being first to market in Canada with organically certified hemp-derived CBD products allows TGOD to capture organic CBD market share securing future growth in this newly legalized cannabinoid vertical.
“The ability to partner with skilled and specialized extraction operators such as Valens will add significant bench strength to TGOD’s already robust extraction capabilities in Canada, Poland and Jamaica. We believe the importance of high-quality cannabis oils will continue to greatly increase as patients and consumers look for safer and healthier delivery methods.”
“We are excited to work with TGOD, Canada’s premier certified organic producer,” said Tyler Robson, CEO of Valens. “Organic resonates with consumers, and Valens looks forward to helping accelerate TGOD’s time to market with the launch of its hemp-derived CBD product line in the coming months.”