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- Epsilon Healthcare (EPN) extends its agreement with The Valens Company to January 31
- The deal gives The Valens Company access to Epsilon’s Southport manufacturing facility to further Valens’ international expansion into the Asia-Pacific, Latin America, European and UK markets
- In return, Valens will grant Epsilon a license to use its intellectual property in operating the Southport Facility and fund all future operational and capital expenditure for the duration of the partnership on a reimbursement basis
- Epsilon and Valens have extended the date of the agreement to allow additional time to settle the deal
- Epsilon Healthcare drops 8.7 per cent, trading at 10.5 cents per share at 2:50 pm AEDT
Epsilon Healthcare (EPN) has extended its agreement with The Valens Company to January 31, 2022.
Epsilon announced a long-term exclusive partnership with the Canada-based manufacturer of cannabis products in September 2021. The deal gives access to Epsilon’s Southport manufacturing facility to further Valens’ international expansion into the Asia-Pacific, Latin America, European and UK markets.
Epsilon’s facility is considered the largest cannabis extraction facility in the Southern Hemisphere, allowing Valens the opportunity to deliver GMP-grade products.
In return, Valens will grant Epsilon a license to use its intellectual property in operating the Southport Facility and will provide personnel and support.
Valens will also fund all future operational and capital expenditures of the Southport Facility for the duration of the partnership on a reimbursement basis.
Epsilon and Valens extended the date of the agreement to allow additional time to settle the deal.
“We are pleased at the progress made under the Epsilon and Valens partnership since its inception in September,” said Jarrod White, Chief Executive Officer of Epsilon.
“We look forward to executing formal agreements with Valens to take the Epsilon Southport Facility to a global scale, and towards delivering on key orders for local and export markets in early 2022 and beyond.”
Epsilon Healthcare dropped 8.7 per cent, trading at 10.5 cents per share at 2:50 pm AEDT.
