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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (23850)	11/8/2016 2:24:12 PM
From: Goose94	Respond to of 203020

Genovation Capital (GEC-Cse) Nov 8, '16 the completion of a reverse takeover of Valens Agritech Ltd., a biotechnology company based in the Okanagan Valley of British Columbia. Valens is focused on cannabis cultivation and research, with assets and improvements that include a state-of-the-art 17,000-square-foot research and development facility located in Kelowna, B.C. Rob van Santen, chairman and chief executive officer, stated: "We have taken a first but steady step towards building out our capability and exposure to the rapidly growing medical marijuana industry. With the talent and operational experience of the Valens Agritech team, we are well positioned to help advance clinical research on cannabis, introduce new products, services and additional innovations for patients and consumers, and to capitalize on our sizable investment in the Arizona-based expansion of MKHS LLC." Valens has expended more than $2.7-million to satisfy the stringent security requirement for a controlled drugs and substances dealer's licence. With a "build letter" from Health Canada, the company is awaiting final inspection. If successful, Valens anticipates holding both the research-and-development-oriented dealer's licensing, as well as a licensed producer contract from Health Canada, under the Access to Cannabis for Medical Purposes Regulations (ACMPR). This will enable the company to capture a broad spectrum of medical marijuana users and the potentially lucrative world of recreational users, upon legalization in Canada. Although there are currently 36 licensed producers in Canada, management is unaware of any existing dealers' licences associated with cannabis research and development. Valens will focus on deriving unique strains to alleviate different neurological conditions through intensive plant breeding. The company intends to change its name to better reflect its new business venture. To close the transaction, Genovation issued 36 million shares to the shareholders of Valens. Of the 51 million shares outstanding, 46.4 million shares or 90.9 per cent are subject to a combination of milestone vesting parameters, standard regulatory escrow provisions and a voluntary pooling agreement, over a period of 36 months. On behalf of the Board of Directors, GENOVATION CAPITAL CORP. (signed) "Robert van Santen" Chief Executive Officer For further information, please contact: Greg Patchell, Manager, Public Relations Telephone: +1.250.860.8634 genovationcapital.ca