Buying into extraction
Published on July 5, 2019 by oz. staff
Poised for significant growth, Valens GroWorks has caught the eye of a popular investment vehicle.
The Horizons Marijuana Life Sciences Index ETF (HMMJ) has added Valens, a Kelowna-based pot extraction company, to its portfolio in its quarterly rebalance.
The HMMJ was the first exchange-traded fund to track the cannabis industry.
With edibles and concentrates coming to market in December, Valens is expected to see a dramatic boost in business. It has extraction agreements with licensed producers Hexo and Tantalus Labs, among others.
Valens is the largest third-party extraction company in Canada and plans to expand its annual extraction capability to 1 million kilos.
The HMMJ has a diverse portfolio, including major cannabis players: