A Kelowna cannabis company has purchased the exclusive Canadian rights to a popular cannabis-infused beverage brand and its innovative technology.

On Monday, Valens Groworks announced the deal that will give the company access to a technology that transforms cannabis oil and oil-based terpenes into water-soluble forms for use in beverages, edibles, topicals and other consumer products.

Known in the cannabis industry as SōRSE, the technology allows cannabis-infused products to maintain potency when heated, chilled or frozen, and removes all cannabis taste and smell.

The deal will also give Valens Groworks exclusive rights to produce, sell and distribute “Happy Apple”  a cannabis-infused sparkling cider, recognized as the number one selling cannabis beverage in Washington state.

"One of the many key benefits of utilizing SōRSE technology in edibles and infused beverages includes being able to dramatically decrease the time for onset and how long it lasts after consumption. This will improve the experience for our consumers and ultimately paves the path for how we believe cannabis will be consumed in the future" said Tyler Robson, CEO, Valens GroWorks.

Valens Groworks’ stock price finished the day trading at $1.83 per share.