VANCOUVER, July 11, 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 the launch of its nutraceutical cannabidiol ("CBD") product line. Manufactured in the United States under stringent quality control adherence and derived from high quality industrial hemp, PUF aims to initially focus the distribution of the products in Canada and in Europe with a specific emphasis on Germany and Croatia. The Company will introduce the new CBD line to physicians and naturopathic practitioners in Europe. Initial product-testing phase in the German marketplace is expected to commence in the near future at which time PUF will unveil its CBD brand.
"The CBD market is rapidly expanding as both the medical community and retail consumers alike are beginning to awaken to the potential nutraceutical benefits of cannabidiol," stated Mr. Derek Ivany, PUF President and CEO. "The addition of our own CBD product line diversifies our future product portfolio and provides a toe-hold into this exciting and potentially lucrative segment of the cannabis industry. Europe represents a significant opportunity for our Company."
CBD is a natural compound found throughout the seeds, stalk and flowers of cannabis plants including marijuana and hemp. It is a cannabinoid that occurs naturally in significant quantities in cannabis, and has shown to be non-psychoactive or less psychoactive than THC-dominant strains make it an appealing option for medical patients. Scientific and clinical research is on going but early indications show that CBD is a potential treatment for patients looking for relief from inflammation, pain, anxiety, psychosis, seizures, spasms, and other conditions.
Hemp and hemp derived CBD products are among the fastest growing segments in the cannabis industry. A recent article published in The Hemp Business Journal indicated an expected CBD consumer market of $2.1 billion by 2020, which represents a 700% growth rate in CBD sales from current levels.
About PUF Ventures Inc.
PUF Ventures Inc. owns a majority interest in AAA Heidelberg, a private Ontario company that is an advanced applicant for an ACMPR license from Health Canada. PUF has an option to acquire the balance of shares to own 100% of AAA Heidelberg upon receipt of the ACMPR license. Through an exclusive joint venture agreement with Canopy Growth Corp., PUF 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, it is management's goal to become a leading supplier of medical marijuana in Canada.
VapeTronix, a wholly owned subsidiary of the Company, is in the process of developing Weedbeacon, and expanding its 1313 brand of electronic cigarettes, marijuana vape delivery devices and associated technologies. For more information visit: www.puf.ca.
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
For further information: Suite 804 - 750 West Pender Street, Vancouver, BC, V6C 2T7, T: (647) 241-4767 / F: (604) 685-6905 / W: www.puf.ca