VANCOUVER, Dec. 14, 2016 /CNW/ - PUF Ventures Inc. (the "Company") (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF) is extremely encouraged by the recently released recommendations of The Canadian Government's Task Force on Marijuana Legalization and Regulation (the "Task Force"). As a niche company with a pre-built boutique facility in London, Ontario, PUF believes that the suggestions put forth by the Task Force assuage some key concerns that the Company had from a corporate positioning standpoint and is extremely optimistic about the future of the Medical Marijuana and Recreational Marijuana market in Canada.
Mr. Ivany, President and CEO of the Company, comments, "Various industry observers and analysts have predicted a potential shortage of legally grown cannabis if and when the recreational market opens up in Canada. Although a hotly debated and controversial issue, the recommendation by the Task Force to make the legal age of consumption 18 rather than 21 could further move the supply and demand curve substantially into the favour of all producers including ourselves when and if we are licensed. Further, I believe it is especially important that the Task Force recognized the importance of smaller operations like ours and has emphasized a need for boutique purveyors in the marketplace calling for fast tracking on licensing. Being a late stage applicant with a facility that is near complete we believe we would be amongst the group first in line for a fast-track in the event that it is adopted by the Government."
"The future of the cannabis market seems poised for continued growth. The Company has been working on new branding initiatives that we plan to unveil in the near future and is further preparing for market entry. As we are currently past the security clearance stage and are awaiting inspection, we continue to take preparatory steps in other facets of the organization so that, if and when we gain a final license, we do not lose valuable time in executing our business plan." Mr. Ivany continued.
About PUF Ventures Inc.
PUF Ventures Inc. is moving into the Bio Medical Cannabis sector by purchasing a 100% interest in AAA Heidelberg, a private Ontario company that has applied for an ACMPR license. Although the Company cannot guarantee nor estimate the timing for the issuance of a license to AAA Heidelberg, it is PUF's goal to become the next publicly traded Canadian company to be granted a new medical marijuana production license.
VapeTronix, a wholly owned subsidiary of the Company, is in the process of expanding its 1313 brand of electronic cigarettes, Marijuana Vape delivery devices and associated technologies.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
SOURCE PUF Ventures
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