VANCOUVER, Nov. 14, 2017 /CNW/ - PUF Ventures Inc. ("PUF" or the "Company") (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF), is pleased to provide the following corporate updates with respect to its various ongoing business development initiatives.
PUF Ventures Australia ("PVA"):
As was announced earlier today, PUF Ventures Inc.'s Australian unit has filed three applications with the Australian Office of Drug Control for the cultivation, production and manufacture of medical cannabis at the Northern Rivers project, a proposed 1.2-million-square-foot greenhouse and extraction facility in Richmond Valley Shire, New South Wales, Australia. The applications, if successful, will allow PUF Ventures Australia to take cannabis from seed to finished product.
In an effort to the assessment of potential of additional corporate development activities, the PVA team will be attending the upcoming Marijuana Business Conference "MJBizCon" in Las Vegas Nevada. The PVA management team will be on site to meet with technology providers, CBD experts and other companies in the cannabis space. For those interested in connecting with our team, please contact Michael Horsfall, President and CEO, at firstname.lastname@example.org or David Parry, Chairman, at email@example.com.
The Company is also pleased to announce that PUF's Natures Hemp representative will also be attending the conference to review the latest technology relating to CBD medical research. PUF will be unveiling the future of Natures Hemp in the latter part of January 2018.
As previously announced, the Company's majority owned advanced Access to Cannabis for Medical Purposes Regulations ("ACMPR") license applicant, AAA Heidelberg, has been closing in on their proof of readiness submission to Health Canada. After a rigorous screening process and several onsite audits, PUF has now formally engaged and contracted Veridin Systems Canada to finalize installation of the necessary security enhancements and protocols as advised David Hyde, of David Hyde and Associates.
Veridin Systems Canada has been providing security services to the controlled substance sector since 1991 and as a result, has a deep understanding of Health Canada's regulations and requirements for securing ACMPR facilities. Veridin works with other medical marijuana and pharmaceutical clients across Canada to secure their facilities utilizing integrated security solutions consisting of intrusion detection, access control, video surveillance and remote monitoring services.
"We would like to thank our investors for their unwavering patience throughout this process," said Mr. Derek Ivany, President and CEO, PUF Ventures. "With the assistance of David Hyde we have updated all of our security protocols to ensure the utmost in compliance with Health Canada ACMPR standards. We are confident that after this thorough review and security revision we will have the most up to date and state of the art equipment at our AAA Heidelberg site. We look forward to working expeditiously with Veridin Systems as equipment has been ordered and final installation is anticipated to commence in short order."
Weed Points Loyalty ("Weed Points"):
We would like to congratulate our team at Weed Points Loyalty for their recent successful trip at the Web Summit technology conference in Lisbon Portugal. Web Summit is one of the largest conferences of its kind with an estimated 60,000 attendees centered on technology and related offshoot industries. As innovators in the digital Cannabis space, the Weed Points team was active in presentations, meetings and networking with various contacts from technology companies and government organizations.
"It was very reassuring to see the Weed Points team in action at the Web Summit conference in Portugal," said Derek Ivany. "I have the utmost confidence and respect for the team that has been assembled to lead Weed Points and I am excited to see what the future holds as they as embark on their journey of being a stand-alone entity from which to execute their business plan."
PUF and Weed Points are currently working through a plan of arrangement where by PUF shareholders of record as of October 4th, 2017 are entitled to receive one (1) SpinCo Share for every seven (7) common shares of PUF held. An annual general and special meeting will be held on November 24th, 2017 where shareholders of record will be eligible to vote on a special resolution approving the arrangement.
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 PUF Ventures Australia.
About Weed Point Loyalty Inc.
Weed Points Loyalty Inc. (formerly Vapetronix Holdings Inc.), 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. Weed Points Loyalty Inc. also endeavors to serve as the first loyalty program that targets the emerging cannabis market by leveraging the use of technology and expertise of its management team to create a platform that will allow producers, patients, and consumers to interact and define the future face of cannabis commerce. For more information visit: www.puf.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
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: firstname.lastname@example.org, T: (800) 783-6056