VANCOUVER, Aug. 14, 2018 /CNW/ - PUF Ventures Inc. ("PUF" or the "Company") (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF), is pleased to announce that on August 13, 2018, the Supreme Court of British Columbia approved the plan of arrangement among PUF, Natures Hemp Corp. ("NaturesHemp") and the shareholders of PUF (the "Arrangement"). The Company will proceed to complete the Arrangement, which includes the issuance of shares to the PUF shareholders of record as of June 18, 2018, on the basis of one new common share in Natures Hemp for every 3.3665 PUF shares held on a pro rata basis. Natures Hemp will issue approximately 17,500,000 common shares of Natures Hemp to the PUF shareholders. The Company received shareholder approval to the Arrangement at the Company's special meeting held on August 7, 2018.
For more information about the Arrangement please see the information circular of the Company dated June 18, 2018 and subsequent news releases dated August 3, 2018 and August 8, 2018 available on www.sedar.com.
The Company also announces that Natures Hemp has closed the first tranche of its special warrant financing at a price of $0.25 per special warrant through the issuance of 1,676,000 special warrants for aggregate gross proceeds of $419,000. Each special warrant is convertible into common shares of Natures Hemp.
About the Company
PUF Ventures Inc. is a growth oriented and diversified company focused on the international cannabis industry. It has ownership in several cannabis companies: AAA Heidelberg, Solaris Nutraceuticals Pty Ltd., and Natures Hemp Corp., and is actively pursuing other opportunities within the industry. PUF has an option to purchase 100% of AAA Heidelberg Inc., a private Ontario company and advanced applicant for an ACMPR license. Solaris Nutraceuticals is building the largest medical cannabis greenhouse in the Southern Hemisphere. For more information please visit: www.puf.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
Derek Ivany, President & CEO
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
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.