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PUF Ventures Buys Adjacent Property to Expand Facility

July 12, 2017

 

This morning, PUF Ventures (CSE:PUF)(OTC:PUFXF) announced that the company has entered into an agreement to purchase property adjacent to their current facility. The adjacent property is one half of an acre and the company estimates that this space would enable them to expand to 35,000 square feet from its current 8,800 square feet. 

 

PUF Ventures will not be seeking to amend their ACMPR application, instead the company intends to wait until they are approved (if they are approved). They see the additional property as providing the option to grow additional specialty strains for Canopy Growth Corp's CraftGrow program

 

In the meantime, the company remains focused on the completion of the remaining upgrades to the current facility in preparation for licensing. 

 

Management Commentary

 

PUF Ventures' President and CEO, Mr. Derek Ivany

 

"The opportunity for PUF to expand its cultivation facility by almost 3 times will allow for a more diversified option of strain production along with the economic advantages available to a larger grow-space. With the legalization of recreational marijuana on the horizon and as the maturation of the ACMPR program continues, it has become apparent that a certain level of cultivation capacity and scale will be necessary to remain competitive on a national level. We will continue to seek out opportunities to grow our business as we look to become a leading producer of medical and recreational marijuana in Canada and international markets."

 

Market Reaction


In early trading Wednesday, shares of PUF Ventures are up roughly 3% on the CSE. Shares haven't traded on the OTC Markets yet. Year-to-date, shares of PUF Ventures are up more than 45%

 

Conclusion

 

The Daily Marijuana Observer is working on a marijuana stock profile for PUF Ventures. In the meantime, be sure to subscribe to one or more of their free email newsletters and check out their marijuana stock database

 

Also, connect with The Daily Marijuana Observer on social media via FacebookTwitter and Instagram

 

D/M/O

 

Disclaimer
 
Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

 

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.