VANCOUVER, Nov. 21, 2017 /CNW/ - PUF Ventures Inc. ("PUF" or the "Company") (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF), an advanced Access to Cannabis for Medical Purposes Regulations ("ACMPR") license applicant, is pleased to announce that PUF Ventures Australia ("PUFA") has engaged renowned Dutch greenhouse builder KUBO, for engineering and the tendering process for the construction of the 1,200,000-square foot, fully automated greenhouse to be built in New South Wales Australia.
"Our goal is to have the highest quality and lowest cost medical cannabis grown under the sun and KUBO's global presence and advanced designs gives it the necessary experience to excel in Australia's challenging environment," said Michael Horsfall, CEO of PUFA. "We are impressed with KUBO's Ultra-Clima greenhouse design that will make our facility one the most advanced cannabis production facility. As the medical cannabis market matures having a low-cost operation will be critical to the long-term success of the Northern Rivers project, as announced on September 27, 2017. We envision creating over 300 jobs in the Northern Rivers Region of New South Wales with opportunities for many downstream businesses. The support from all levels of government has been overwhelming and we are currently working toward completing the licensing and permitting stage of the project."
PUFA has chosen renowned Dutch greenhouse builder KUBO, to engineer and tender the first Ultra-Clima Greenhouse in Australia specifically for cannabis. With the Ultra-Clima, KUBO Group has made advancements towards the greenhouse of the future. The Ultra-Clima greenhouse meets all the requirements of modern growers; higher yields, maximum food safety, minimum energy and water consumption, minimum CO2 emissions and improved returns.
The Northern Rivers Project will consist of multiple zones over 1,200,000 square feet. This facility is believed to be the Southern Hemisphere's largest purpose-built greenhouse, designed specifically to produce medical-grade cannabis.
The Northern Rivers greenhouse project will have the guidance of Mr. Casey Houweling, CEO of Glass Investments Inc, a world-renowned greenhouse innovator, designer, operator and grower. He has built and operated one of North America's largest greenhouse enterprises, and has developed and adapted intellectual property in the form of patented greenhouse systems. PUFA and Houweling are poised to deliver more combined automation, efficiency, good manufacturing practices and sustainability features under one roof than any other existing greenhouse in the world.
KUBO is a leading greenhouse builder with a sustainable approach to covered cultivation worldwide. Our own research and development lie at the heart of unique innovations such as the Ultra-Clima® greenhouse. We continuously invest in innovation and improvement; not only of complete greenhouse concepts but also of facades, rubber rafters and gutters. Innovative projects together with conventional greenhouses are what makes KUBO unique. For more information: www.kubogroup.nl/en.
Northern Rivers Project
The Northern Rivers Project is a joint venture between PUF, PUFA, and MYM Nutraceutical Inc., to build a 1.2 million square foot greenhouse operation on a 27-hectare parcel of land near the town of Casino in northern New South Wales, Australia. When complete, the greenhouse will be one of the most technically advanced and environmentally sustainable medical cannabis operations in the world and include large-scale greenhouse, manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products in Australia. The first phase of the project will cover approximately 300,000 square feet, which will be the largest medical cannabis greenhouse in Australia.
About PUF Ventures Inc.
PUF Ventures Inc. owns a majority interest in AAA Heidelberg Inc., a private Ontario company that is an advanced applicant for an ACMPR license from Health Canada. The Company has an option to acquire the balance of shares to own 100% of AAA Heidelberg Inc. upon receipt of the ACMPR license. Through an exclusive joint venture agreement with Canopy Growth Corp., the Company will join CraftGrow, a collection of high-quality cannabis grown by a select and diverse set of producers, made available through the Tweed Main Street website. While it cannot guarantee nor estimate the timing of the issuance of a license to AAA Heidelberg Inc. it is management's goal to become a leading supplier of medical marijuana in Canada. PUF also owns a majority interest in Weed Points Loyalty Inc., and a minority interest in PUFA.
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.
SOURCE PUF Ventures
For further information: PUF Ventures Inc., E: [email protected], T: (800) 783-6056; PUF Ventures Australia, Michael Horsfall, President & CEO, E: [email protected], T: +61 417 041 272