Genovation Capital Completes RTO of Biotechnology Company Valens Agritech - Video News Alert on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - November 8, 2016) - Genovation Capital (CSE: GEC) has resumed trading on the Canadian Securities Exchange under the symbol "GEC". This followed the completion of a reverse-take-over of Valens Agritech Ltd., a biotechnology company based in the Okanagan Valley of British Columbia.

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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, British Columbia.

Rob van Santen, Chairman and CEO, 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 sizeable 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 License. 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. 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 dealer's licenses 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% are subject to a combination of milestone vesting parameters, standard regulatory escrow provisions and a voluntary pooling agreement, over a period of 36 months.

For more information, please visit www.genovationcapital.ca, contact Greg Patchell, Public Relations Manager, at 250-860-8634 or email info@genovationcapital.ca.

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