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PUF Ventures Forms Colombian Subsidiary

May 4, 2018

 

VANCOUVER, May 4, 2018 /CNW/ - PUF Ventures Inc. ("PUF" or the "Company") (CSE:PUF) (Frankfurt:PU3) (OTC:PUFXF), an advanced Access to Cannabis for Medical Purposes Regulations ("ACMPR") license applicant, is pleased to announce the formation of a wholly owned subsidiary Pure Grow Medicinals S.A.S. in Colombia to pursue additional international opportunities in the cannabis industry.

 

"Colombia is in the early stages of legalizing cannabis for medicinal and export purposes, and represents a strategic opportunity for PUF" said Derek Ivany, President and CEO of the Company. "It is a cannabis friendly jurisdiction where we have established local business relationships. We are in discussions and conducting due diligence on several projects with significant potential.  By leveraging our experience in other international markets, we will ensure the success of Pure Grow Medicinals."

 

Medical cannabis was formally legalized in Colombia in 2015. Like Canada, local producers must obtain licenses from the government for the cultivation of psychoactive and non-psychoactive plants. Due to its proximity to the equator, Colombia has the ideal natural environmental to grow many different crops including cannabis. Plants are grown in open-air greenhouses, under a 12-hour sun cycle, throughout the year, and there is ample access to natural water sources. A minimal requirement for electricity and access to water are substantial cost advantages making Colombia one of the lowest cost cannabis producers in the world.

 

Internationally, PUF Ventures currently owns a 35 percent stake in Solaris Nutraceuticals, a private company based in Australia which is building a 1.2 million sq. ft., hi-tech, ultra-efficient, large-scale cannabis greenhouse in New South Wales, Australia. A potential project in Colombia represents a second international project to be undertaken by PUF Ventures.

 

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., an advanced applicant for an ACMPR license. Solaris Nutraceuticals is building the largest medical cannabis greenhouse in the Southern Hemisphere. For more information please visit: www.puf.ca.

 

ON BEHALF OF THE BOARD OF DIRECTORS

Derek Ivany
President & CEO

 

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.

 

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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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/.