VANCOUVER, Jan. 26, 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 announce that in response to Health Canada's January 25, 2018 announcement regarding changes to the physical security requirement under the ACMPR, the Company is moving to immediately complete the video recording for the Confirmation of Readiness submission and call for a Health Canada inspection of its London, Ontario facility.
"I am very pleased to be moving to prepare the Confirmation of Readiness for our London, Ontario facility as our existing security system meets Health Canada's realigned requirements," said Derek Ivany, President and CEO of PUF Ventures Inc. "For over 18 months the main goal of the Company has been to earn the license to produce medical cannabis in Canada. The Confirmation of Readiness submission to Health Canada is a significant milestone for the Company and its shareholders. The Company has come along way and we look forward to initiating production in the near future."
The Company was advised by the Office of Medical Cannabis that Health Canada had issued an announcement on January 25, 2018, regarding two targeted changes to physical security requirements under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The changes will help to align the physical security requirements with the evidence of actual risks to public safety without imposing an unjustifiable burden on regulated parties. The statement modifies the security measures necessary for:
- areas where cannabis plants are cultivated, propagated, harvested or trimmed and to areas where cannabis seeds are present or stored, and
- the vault and storage areas.
PUF's London, Ontario facility has the most up-to-date growing and security technologies available. The security system meets or exceeds all requirements demand by Health Canada. The growing facility meets the highest level of pharmaceutical standards and features a state-of-the-art HVAC and Surna Water Chilled Climate Control system. These systems provide the backbone of the facility's automated control for temperature, light, humidity, carbon dioxide, and special ventilation for bacteria regulation. grow lights, tracking software and auxiliary hardware have also been installed.
The facility will have an annual production of approximately 600 kilograms of medical cannabis.
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., a private Ontario company and advanced applicant for an ACMPR license. Currently, AAA Heidelberg has not received a license from Health Canada. PUF is publicly traded under the following symbols: CSE: PUF, Frankfurt: PU3 and OTCPK: PUFXF. For more information please 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.
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