VANCOUVER, Oct. 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 that it has entered into an agreement to purchase Natures Hemp Corp., a private company developing proprietary hemp base food and medicinal products with a major Canadian university. Terms of the transaction have not been finalized.
"We are building a global, vertically integrated cannabis company and Natures Hemp with their hemp based food and medicinal products and plans for cultivation is a natural fit with our overall strategy for PUF," said Mr. Derek Ivany, President and CEO of PUF Ventures. "The market for hemp based products is growing at a phenomenal rate. Natures Hemp is currently working closely with senior levels of provincial and federal governments for its application for hemp cultivation and to secure development grants and loans for a new facility in Ontario. The facility will allow for greater product development, and processing and packaging new lines of food and other hemp based products expected to be launched by the summer of 2018. We appreciated the government's continuing support for Natures Hemp and look forward to completion."
Natures Hemp Corp. is a private company based in Vancouver, B.C. and is currently in the process of applying for a license to cultivate hemp in Canada and one other international jurisdiction. It is also working with a major Canadian university, with the goal to develop proprietary methods cannabidiol (CBD) extraction from seeds and other parts of the plants, to create high quality oils and flours. In turn, Natures Hemp will use these products to create high quality and healthy hemp based food and medicinal products.
While hemp is traditionally known for its use in textiles due its long and strong fibers, it is the hemp seeds that are critical in creating healthy food and medicinal products. Seeds are typically pressed to produce oil and the remaining byproduct is processed into a flour from which products like pasta, baked goods and other healthy foods can be created. Hemp seeds are being recognized as a superfood, like flax and chia seeds, because they are high in protein, contains 20 amino acids, and are also high in the fatty acids omega-3 and omega-6.
CBD is a natural compound found throughout the seeds, stalk and flowers of hemp plants. It is a cannabinoid that occurs naturally in significant quantities in hemp and, because it has shown to be non-psychoactive, is an appealing option for food and medicinal products. Scientific and clinical research is ongoing 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. Potential health benefits from hemp food products include weight suppressant (high in fiber), immune-system booster, and an ability to lower blood pressure and cholesterol.
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.
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 a supply agreement with Canopy Growth Corp., the Company has joined CraftGrow, a collection of high-quality cannabis grown by a select and diverse set of producers, made available to the Canadian market 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 Ventures Inc. owns a majority interest in PUF Ventures Australia ("PVA"), a private company with a purchase option on 27-hectares of land near the town of Casino, New South Wales. PVA is constructing a one million-square-foot greenhouse operation with large scale manufacturing and processing facilities for the cultivation, harvesting, processing of medical cannabis and associated products in Australia.
Weed Points Loyalty Inc. (formerly Vapetronix Holdings Inc.), a wholly-owned subsidiary of the Company, developing the first loyalty program that targets the emerging cannabis market by leveraging expertise and technology to create a platform that will allow producers, patients, and consumers to interact and define the future face of cannabis commerce. It is also developing WeedBeacon, a marijuana tracking technology.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
PUF Ventures Inc.
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SOURCE PUF Ventures
For further information: PUF Ventures Inc., E: [email protected], T: (800) 783-6056