World News: 21:17 GMT Friday 14th September 2018. [PUF Ventures Inc. via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Enthusiasm has returned to the legal cannabis space in Canada and PUF Ventures Inc. (CSE: PUF) (OTC: PUFXF), a late stage ACMPR license candidate, appears to be in perfect position to take advantage of the public’s renewed interest. PUF has a proven track record of creating shareholder value through the pursuance of niche market opportunities, and in burgeoning sectors, such as the legal cannabis industry, niche market opportunities remain both innumerous and profitable. The rekindled enthusiasm in the space will begin to drive these niche markets, especially as the effective date of legalization (October 17, 2018) draws nearer, and PUF will be one of the few organizations already engaged in the unique and untapped market opportunities that currently exist.
Several events have signalled the return of enthusiasm to the legal cannabis market in Canada. Investors have been once again rallying behind the most popular companies in the space, causing the price of the Canadian Marijuana Index to increase nearly 100% in the last month. Continued regulatory reform has also increased confidence in the industry as Health Canada has made significant strides in the last two months, loosening the restrictions on hemp plant use. Finally, the Canadian cannabis market is starting to receive substantial investment from powerful international entities. Constellation Brands, probably best known in Canada for producing Corona, recently decided to invest an additional $5 billion into cannabis bellwether, Canopy Growth Corp. When Fortune 500 companies such as Constellation begin pouring billions of dollars into a burgeoning market, you can be certain that there is both spirited interest and immeasurable potential.
The team at PUF Ventures has proven time and time again that they are exceptionally skilled at identifying emerging trends and harnessing them in a manner that creates considerable value for their shareholders. Late last year, PUF initiated a spin-out of its wholly owned subsidiary Cannvas Medtech, a leading business technology company within the health sciences space, and provided PUF shareholders with one MTEC share for every seven shares of PUF that they already owned. MTEC is now publicly traded as a stand-alone company and, as of the date of this release, possesses a market cap of more than $14 million and a share price of $0.38.
PUF has also expanded their pursuance of niche and emerging trends to markets outside of Canada. In 2017, PUF purchased a sizeable ownership stake in Solaris Nutraceuticals Pty. Ltd. Solaris Nutraceuticals is building a 1.2 million square foot greenhouse operation on a 27-hectare parcel of land near the town of Casino in northern New South Wales, Australia. When complete, the greenhouse will be one of the most technically advanced and environmentally sustainable medical cannabis operations in the world. It will include large-scale greenhouse, manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products in Australia. The first phase of the project will cover approximately 300,000 square feet, making it the largest medical cannabis greenhouse in Australia.
In recent months, PUF has also initiated another spin-out with its subsidiary Nature’s Hemp, a biotechnology and consumer products company focused on unlocking the true value of hemp for both B2B and B2C markets. The Nature’s Hemp spin-out will provide PUF shareholders with one share of Nature’s Hemp for every 3.3665 shares of PUF owned as of June 18th, 2018.
This past summer PUF secured a highly enviable potential expansion opportunity for large scale cannabis cultivation. PUF solidified a deal, via a 50/50 joint venture, granting them an exclusive 15-year license to a state of the art 2.2 million square foot greenhouse facility in Delta, BC. Further to the securement of this facility license, PUF also engaged industry consultants, Cannabis Compliance Inc., to aid them in preparing for the necessary regulatory-driven upgrades that the facility will need to undergo in order for large scale industrial cannabis cultivation to begin. This is a crucial component of the new endeavour as it means that PUF is well prepared to begin operations if, and when, they are awarded an ACMPR license.
This expansion potential grants PUF near term access to a facility that would otherwise take years and upwards of $100 million to build. In a market that is rapidly growing and evolving, this mechanism for cultivation expansion could indeed prove fruitful.
It is clear that PUF is in prime position to take advantage of the public’s renewed enthusiasm in the cannabis space. They are continually seeking out new niche market opportunities and, while doing so, consistently creating value for their shareholders.
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This piece was written and distributed by Global Objective Marketing (GOM). All of the information contained within was produced using publicly available information and any opinions about individuals, companies or industries expressed within this release belong solely to GOM. The opinions expressed by GOM should not be considered as complete, accurate, or current investment advice. Any investment decisions made by readers are theirs and theirs alone. To ensure that you are making investment decisions that serve your own best interests, we recommend that you utilize the services of a professional financial planner or advisor. In order to comply with Section 17(b) of the 1933 Securities Act, GOM discloses that it was paid a sum of two thousand dollars CAD to write this content for PUF Ventures.
Globe Newswire: 21:17 GMT Friday 14th September 2018
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