Today, PUF Ventures Inc. (CSE:PUF)(OTC:PUFXF) announced the launch of their nutraceutical cannabidiol (CBD) product line. The product will be manufactured in the United States from high quality industrial hemp. PUF Ventures initially intends to market the product in Canada and Europe.
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Hemp and hemp derived CBD products are one of the fastest growing segments of the cannabis industry. A recent article published in The Hemp Business Journal indicated an expected CBD consumer market of $2.1 billion by 2020. This represents a 700% growth rate in CBD sales from current levels.
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PUF Ventures' President and CEO, Mr. Derek Ivany
"The CBD market is rapidly expanding as both the medical community and retail consumers alike are beginning to awaken to the potential nutraceutical benefits of cannabidiol. The addition of our own CBD product line diversifies our future product portfolio and provides a toe-hold into this exciting and potentially lucrative segment of the cannabis industry. Europe represents a significant opportunity for our Company."
About PUF Ventures
In addition to this new business line, PUF Ventures owns a majority interest in AAA Heidelberg, a late-stage ACMPR applicant. AAA Heidelberg has an agreement in place with Canopy Growth Corp. to join that company's CraftGrow program as soon as they receive their cultivation license.
PUF Ventures also owns VapeTronix, the developer of Weedbeacon as well as marijuana vape delivery devices.
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