VANCOUVER, July 18, 2018 /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 provide an update on the business of its subsidiary Natures Hemp Corp. ("Natures Hemp").
Natures Hemp, a biotechnology and consumer products company focused on unlocking the true value of the hemp for both B2B and B2C markets, and Cannvas MedTech Inc. ("Cannvas"), a leading business technology company within the cannabis space, are pleased to announce the signing of a letter of intent (the "LOI"), to negotiate in good faith a data analytics agreement, for which Cannvas will provide industry insight and analytical modelling capabilities to Natures Hemp business models and Key Performance Indicators (KPIs).
"As we work to complete the plan of arrangement with Natures Hemp, it continues to make strides to become a leading biotechnology and consumer products company," said Derek Ivany, President and CEO, of PUF Ventures. "It is currently working with the University of Manitoba to develop proprietary an organic hemp-based milk which contains no sugar and no cholesterol, is free of soy and gluten and is an abundant source of vital nutrients. The recent letter of intent between Natures Hemp and Cannvas could lead to an agreement and provide valuable market data and analytics to Natures Hemp as it looks to introduce new and exciting hemp-based products. I am very pleased that the two PUF spin-out companies are working together to create shareholder value."
Under the terms of the LOI, Cannvas will develop specific parameters within its existing Cannvas Data framework to collect data and analytics from Natures Hemp and their strategic partnerships, and Natures Hemp is expected to gain access to a broad data set as they press forward in the hemp sector and becomes a stand-alone public company. It is expected that the LOI and a subsequent agreement will allow Natures Hemp to bring the right products to market at the right time and to the right individuals, and will maximize Natures Hemp customer conversion funnel.
Cannvas Data is the analytics branch of Cannvas MedTech. Its mission is to collect data from various credible sources to enhance user personal data algorithms for Cannvas.me. Cannvas Data is expected to leverage existing databases, site traffic and advanced technology for marketing purposes, and is expected to leverage its comprehensive solution for the global hemp community. Cannvas and Natures Hemp have agreed to a discovery period whereby the technological specifications of the connectivity will be setup by Cannvas Data. Cannvas and Natures Hemp will work together towards a definitive partnership agreement within the next 45 days.
About Natures Hemp Corp.
Natures Hemp is a biotechnology and consumer products company focused on unlocking the true value of hemp and developing a new generation of plant-based, nutrient rich cannabidiol (CBD) food, beverage and healthcare related products. It is establishing its own farms to produce high quality organic hemp plants and using a proprietary extraction technology to produce legal hemp fibers and CBD extract. It is also launching a premium brand of quality CBD products with an emphasis on health and wellness. Currently. Natures Hemp is a subsidiary of PUF. Pursuant to the previously announced plan of arrangement between Natures Hemp and PUF, if the plan of arrangement is approved by the shareholders of PUF and the court, it is expected that Natures Hemp will become a reporting issuer.
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company within the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
About PUF Ventures Inc.
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., an 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.