PUFXF: PUF Ventures (CNSX:PUF) Analysis and Research Report

2018-03-19 - by Asif , Contributing Analyst - 168 views

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Business History

The Company was incorporated on June 24, 2004 under the laws of the Province of British Columbia under incorporation number BC0698428. On July 20, 2004, the Company changed its name from 0698428 BC Ltd. to High Ridge Resources Inc. On January 1, 2010, the Company changed its name from High Ridge Resources Inc. to New High Ridge Resources Inc. On February 7, 2011, the Company changed its name from New High Ridge Resources Inc. to Newton Gold Corp. On November 7, 2013, the Company changed its name from Newton Gold Corp. to Chlormet Technologies, Inc. On ovember 13, 2015, the Company changed its name from Chlormet Technologies, Inc. to PUF Ventures Inc. The Company’s head office and registered and records office is located at Suite 804 - 750 West Pender Street, Vancouver, British Columbia, V6C 2T7.

On March 1, 2006, the Company was listed and commenced trading on the TSX Venture Exchange under the symbol “CMT” until June 18, 2014. Effective June 19, 2014, the Company delisted from the TSX Venture Exchange and listed and commenced trading on the Canadian Stock Exchange (the “CSE”) under the symbol “PUF”.

On July 16, 2015, the Company qualified to trade on the OTC Pink Sheets (“OTCPK”) under the symbol “CHLMF” and has been made eligible for book-entry delivery and depository services of the Depository Trust Company to facilitate electronic settlement of transfers of its common shares in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and therefore accelerates the settlement process for investors. On February 24, 2016, the Company changed its symbol on the OTCPK to “PUFXF”. The Company also trades on the Frankfurt Stock Exchange under the symbol “PU3”.

On June 30, 2016, the Company completed a 4 for 1 share consolidation. All references to number of shares and per share amounts in this MD&A have been retroactively restated to reflect this consolidation.

Until recently, the Company was classified as an exploration stage company with respect to its exploration and evaluation of assets. Based on the information available to date, the Company has not yet determined whether its exploration and evaluation assets contain economically recoverable reserves. The recoverability of the amounts shown for exploration and evaluation assets is dependent upon the confirmation of economically recoverable reserves, the ability of the Company and their joint venture partners to obtain the necessary financing to successfully complete their development, and upon future profitable production or disposition thereof. Although the Company has taken steps to verify title to exploration and evaluation assets in which it has an interest, in accordance with industry norms for the current stage of exploration of such properties, these procedures do not guarantee the Company’s title. Property may be subject to unregistered prior agreements and non-compliance with regulatory requirements. The Company is now classified under the industry classification: consumer products – biotechnology/pharmaceuticals.

On March 26, 2014, the Company acquired a 16.5% interest in AAA Heidelberg, a private company located in Ontario, for cash of $120,000. The Company signed a letter of intent (“LOI”) with the principals of AAA Heidelberg whereby the Company was granted the exclusive option to acquire the balance of the 83.5% interest subject to certain conditions including the grant of an ACMPR (Access to Cannabis for Medical Purposes Regulations) (formerly MMPR) license and by issuing up to 18,350,000 PUF Shares subject to the escrow policies of the CSE. A share exchange agreement was finalized effective January 26, 2015 (the “Share Exchange Agreement”). On February 24, 2015, the Company issued the first tranche of 4,350,000 common shares of the Company to the shareholders of AAA Heidelberg representing an additional 19.79% interest. On October 30, 2015, the Company issued the second tranche of 2,000,000 common shares of the Company representing an additional 9.1% interest, which represented the Company’s 45.39% ownership interest in AAA Heidelberg. On May 8, 2017, the Company issued a third tranche of 500,003 common shares of the Company at a deemed price of $0.40 per common share representing an additional 9.1% interest for a total of 54.49% majority interest. The transfer resulted in the Company currently owning a total of 54.49% of AAA Heidelberg. AAA Heidelberg is in Stage 5 of 7 in its application for an ACMPR license from Health Canada. The Company has an option to acquire the balance of shares to own 100% of AAA Heidelberg upon receipt of the ACMPR license.

On May 12, 2015, the Company announced the closing of the acquisition of 100% of VapeTronix Inc., now Weed Points. Weed Points was incorporated pursuant to the Canada Business Corporations Act on November 4, 2014 as Vapetronix Inc. under corporation number 907833-9. On June 23, 2017, Vapetronix Inc. continued from the federal jurisdiction to the jurisdiction of British Columbia and changed its name to Vapetronix Holdings Inc. On September 11, 2017, Vapetronix Holdings Inc. changed its name to Weed Points Loyalty Inc. and on September 14, 2017, was registered to do business as TechOneSixty. Weed Points is currently a private company in which the Company has a minority interest, with its registered and records office located at Suite 804 - 750 West Pender Street, Vancouver, British Columbia, V6C 2T7. For further details, see “Weed Points Loyalty Inc.” below.

On July 16, 2015, the Company’s US subsidiary, PacCan Industries LLC converted its name and status to PacCan Real Estate Holdings Corporation. In April 2016, the Company sold the property at an amount equal to the outstanding mortgage. On June 1, 2017, the Company announced that through an exclusive joint venture agreement with industry leader Canopy rowth (TSX: WEED), it will join CraftGrow, a collection of high quality cannabis grown by a select and diverse set of producers made available through the Tweed Main Street website at www.Tweedmainstreet.com, which provides the Company with many benefits including a direct sales channel to the marketplace. The Company has an option to acquire the balance of shares to own 100% of AAA Heidelberg upon receipt of the ACMPR license. While it cannot guarantee nor estimate the timing of the issuance of a license to AAA Heidelberg, it is the Company’s goal to become a leading supplier of medical marijuana in Canada. As was recently outlined in a Health Canada update, several improvements aimed at streamlining and expediting the application process under the ACMPR program have been implemented.

In the previous Health Canada framework, the Company successfully completed and exited Stage 4, the “Security Clearance” stage, and the most difficult milestone, in October 2015. The Company has been steadily progressing through Stage 5, the “Review” stage and has taken the necessary steps to enter Stage 6, the “Pre-Inspection” stage. With several recently announced corporate developments, the Company is updating its business plan to reflect its repositioning as a pure play cannabis producer. It is also taking steps to update its ACMPR application with Health Canada to include Canopy Growth Corp. as the Company’s sole client.

Effective May 25, 2017, Health Canada abridged and amended the application process for prospective licensed producers. Under this new framework, the Company will submit a proof of readiness for the grow facility in London, Ontario, to Health Canada and await the “Issuance of License to Produce” (Stage 3). The Company is currently working with its ACMPR consultants on the finalization of remaining items and facility upgrades in advance of any potential request for inspection by Health Canada. Specific focus will be directed towards completing the following items:

Installation of an air purification unit

  • Renovation of office space and employee break areas
  • Installation of final security systems
  • Sanitization and purification of the facility
  • Installation of perimeter security fencing
  • Improving the building façade

On June 5, 2017, the Company sold its Lac Saint Simon Property to Volt Energy Corp. (“Volt”) (TSXV: VOLT) pursuant to a mineral property acquisition agreement dated June 1, 2017 with Volt. In consideration for the sale of 100% of the asset, the Company was granted 2.5 million common shares of Volt. On June 27, 2017, the Company received and subsequently provided responses to a status update request letter from Health Canada with respect to the readiness for licensing of its majority-owned AAA Heidelberg facility in London, Ontario.

On July 11, 2017, the Company announced the launch of its nutraceutical cannabidiol (“CBD”) product line. Manufactured in the United States under stringent quality control adherence and derived from high quality industrial hemp, the Company aims to initially focus the distribution of the products in Canada and in Europe with a specific emphasis on Germany and Croatia. The Company will introduce the new CBD line to physicians and naturopathic practitioners in Europe. Initial product-testing phase in the German marketplace is expected to commence in the near future at which time the Company will unveil its CBD brand.

On July 12, 2017, the Company announced that it had executed a binding purchase and sale agreement whereby the Company will acquire the property immediately adjacent to its current AAA Heidelberg facility in London, Ontario, so as to increase its potential cultivation space by approximately 300%. The adjacent property has an equal footprint of half an acre and the Company estimates that this extra space will allow for a potential facility expansion to 35,000 square feet from its current 8,800 square feet. At this time, the Company will not be seeking an immediate amendment to its currently contemplated ACMPR application. Rather, if and when a license is granted, the option to substantially increase the facility cale will afford the Company a greater opportunity to grow additional specialty strains in conjunction with its recently consummated joint venture agreement with Canopy Growth as a member of its exclusive CraftGrow program.

On September 7, 2017, the Company entered into an arrangement agreement, as amended on October 11, 2017, and plan of arrangement (the “Arrangement”) with Weed Points Pursuant to the Arrangement, the Company intends to spin out its WeedBeacon proprietary technology, current app developments, databases, graphics, brochures and other marketing materials (the “Assets”) into Weed Points, subject to approval of the Supreme Court of British Columbia and the Company’s shareholder, and announced the date of its annual general and special meeting. Pursuant to the Arrangement, the Company will distribute 100% of the Weed Points shares it receives to the shareholders of the Company on a pro rata basis. The Company’s shareholders will be entitled to receive one common share of Weed Points in exchange for every seven (7) common shares of the Company held as at October, 4, 2017 (the “Record Date”). There will be no change in shareholders’ holdings in the Company as a result of the Arrangement. No outstanding warrants or options of the Company will be transferred over to Weed Points.

Following completion of the Arrangement, (i) Weed Points will hold the Assets transferred to it by the Company, (ii) Weed Points will become a reporting issuer in the Provinces of British Columbia, Alberta and Ontario (provided that at least one of the parties to the Arrangement has been a “reporting issuer”, as that term is defined in the Securities Act (Ontario) for at least 12 months prior to the effective date), and intends to apply for and meet the listing requirements on a Canadian stock exchange, (iii) each shareholder of the Company will continue to be a shareholder of the Company, (iv) all shareholders of the Company as at the Record Date will have become shareholders of Weed Points, and (v) the Company will retain its working capital for its Assets, and remain listed on the CSE and continue to trade under the trading symbol, PUF, as a consumer products – biotechnology/ pharmaceuticals company. There can be no guarantee that the Weed Points Shares will be listed on any stock exchange.

On September 12, 2017, the Company announced the name change of Vapetronix Holdings Inc. to Weed Points Loyalty Inc. and the Weed Points loyalty program targeting the emerging cannabis market.

On September 14, 2017, the Company announced an update on the AAA Heidelberg state-of-the-art production facility in London, Ontario. Derek Ivany, CEO of the Company, stated that he would be conducting a final on-site inspection with PUF’s engineers on September 15, 2017 to ensure that all final measures and requirements outlined by Health Canada have been fulfilled.

On September 27, 2017, the Company announced that it had agreed to a strategic partnership with the Richmond Valley Council, the local government in the Northern Rivers region of northeastern New South Wales, Australia, to construct a 1 million square-foot greenhouse operation, with large scale manufacturing, processing and office facilities for the ultivation, production and manufacture of medical cannabis and associated products in Australia. The agreement is between the Richmond Valley Council and PUF Ventures Australia, which shall be led by Mr. Michael Horsfall of Sydney, New South Wales, Australia as President and CEO.

Weed Points Loyalty Inc.

Weed Points is a Canadian vaporizer (“Vape”) and electronic cigarette (“E-Cig”) company registered under the province of Ontario, which is in the process of developing WeedBeacon. Weed Points owns the exclusive rights to the “1313” E-Cig brand, a medicinal marijuana mobile application technology and several research and development projects within the Vape and E-Cig space. Although Weed Points was formed to capitalize on opportunities and technology related to the rapidly growing Vape and E-Cig sectors, PUF will retain and expand the “1313” brand and trademark of E-Cigs, marijuana Vape delivery devices and associated products.

Highlights

  • 1313’s flavoured E-Cigs are currently being sold in Ontario with Canada-wide expansion planned
  • 1313’s nicotine E-Cigs are ready for a planned roll-out into the US markets
  • additional products in queue to enhance revenue opportunities for PUF
  • Weed Points principals will remain engaged by PUF and will assist with product branding and sales roll-out
  • Weed Points will leverage marketing and development opportunities alongside PUF in regards to creating synergies between the medicinal marijuana mobile application and vaporizer technology with the anticipated ACMPR license to be issued to AAA Heidelberg

1313 (www.1313cigs.com) is an emerging player in the burgeoning E-Cig market. 1313 E-Cigs are disposable electronic cigarettes that contain between 500 and 650 “puffs” and are packaged for convenience. A single 1313 E-cig is the equivalent of two and a half packs of traditional cigarettes. Weed Points has assembled a strong portfolio of unique flavours that have been tested and approved for commercial production. Initial commercial roll-out of 1313 E-Cigs has begun in Ontario. Select convenience stores and nightclub establishments in the Greater Toronto Area are already selling the nicotine-free 1313 E-Cig products with watermelon, vanilla, peach, and green apple flavours. Weed Points plans to continue sales expansion of 1313 E-Cigs to major urban centres across Canada in 2015 and beyond. A unique line of “e-shisa” flavours that are aimed at appealing to the North American and Middle Eastern hobbyist hookah smoker are also in a test phase. 1313 has begun test trials in US markets for its nicotine products and plans to further pursue this market opportunity.

In addition to the 1313 E-Cig brand, Weed Points has incubated a development stage medicinal marijuana mobile application tracking technology that synchronizes a vaporizer device to a smart phone and will be aimed at the Canadian medical marijuana user. The medical marijuana mobile application will track a variety of metrics for patients and physicians alike such as cannabis usage data, the efficacy of certain strains, side effects as well as several other features. PUF will work in conjunction with AAA Heidelberg to implement additional features in the technology, prior to releasing a commercial version to the public.

Weed Points has a history of net losses, may incur significant net losses in the future, and may not achieve or maintain profitability.

During the year ended December 31, 2016, Weed Points commenced the development on new vaporizer technology. The Company incurred and expensed development costs of $210,000 during the year. The Company incurred an additional expenses during the nine months ended September 30, 2017.

On September 29, 2017, the Company announced an update to the Arrangement. Weed Points proposes to create the first loyalty program that targets the emerging cannabis market. It has established weedpoints.com as its beachhead domain name where a proprietary platform will allow producers, patients, and consumers to interact creating an awareness and loyalty hub for the cannabis marketplace. It is also closing in on several other domain assets for other brands being created under the Weed Points loyalty umbrella.

The WeedBeacon marijuana tracking prototype schematics and associated technologies are being updated to be integrated within the Weed Points platform. Other cannabis loyalty brand business drivers such as data mining and life sciences technologies are also under development.

Weed Points has entered a lease agreement for office space in Toronto, reflective of the tech culture the company is creating, with a tentative occupancy date within 30 days. A corporate communications manager and programming/project manager have been hired, and management is in discussions to hire additional staff from the life sciences, pharma and tech sectors to complement the current team.

By establishing a loyalty and technological presence between producers and consumers, Weed Points will become the loyalty program of choice that provides accurate and up-to-date information on an array of cannabis products. Consumer reviews of specific strains, availability of product, and real-time delivery tracking will be some of the information included within loyalty platform as it evolves to suit the needs of the marketplace.

PUF Ventures Australia Pty Ltd.

On September 27, 2017, the Company announced that it has agreed to a strategic partnership with the Richmond Valley Council, the local government in the Northern Rivers region of northeastern New South Wales, Australia, to construct a 1 million square-foot greenhouse operation, with large scale manufacturing, processing and office facilities for the ultivation, production and manufacture of medical cannabis and associated products in Australia. The agreement is between the Richmond Valley Council and PUF Ventures Australia Pty Ltd. (“PVA”), which shall be led by Mr. Michael Horsfall of Sydney, New South Wales, Australia as President and CEO. The construction of the facility is expected be completed in stages at an estimated total cost of CAD$50 million. The first phase of the project is to cover approximately 300,000 squarefeet. The first crop, based on current construction timelines, permitting and various Australian approvals, is expected to be planted in the fourth quarter of 2018. The Company will seek financing to cover the costs of the project from both local and international partners. The Company’s own internal calculations and analysis suggest these prices will hold or likely increase due to the higher margin high quality medical grade cannabis grown. Total operating costs are estimated to be between 20- 25% of revenue.

PVA has agreed to a purchase option agreement with the Richmond Valley Council for a 27-hectare parcel of land near the town of Casino in northern New South Wales, Australia. This is a landmark agreement whereby the council will provide the land for five years at no cost, with an option for PVA to purchase the parcel on favorable terms after year five. The cost of the parcel at year five will be based on the current value of the land (2017) and not the re-assessed value at a future date. In addition, PVA will be entitled to credits for money spent on land infrastructure. The Richmond Valley Council has been extremely supportive of PVA’s growth strategy and vision and is committed to improving local economic and employment opportunities. The purchase agreement and associated partnership with the Richmond Valley Council will allow PVA to enter the cannabis market on a solid footing with the full support of the local political and governing bodies.

Coinciding with the formation of PVA, the Company has appointed Mr. Michael Horsfall as President and CEO of PVA. Mr. Horsfall has worked extensively as a strategic business consultant with various Australian and internationally listed companies and brings over 20 years’ experience to the role. He has been responsible for successfully leading pursuit and capture teams across government and whole-of-government (WOG) IT outsourcing projects, at both the federal and state level. Mr. Horsfall has won numerous awards for excellence for his work with the Kosovo Safehavens & Immigration Detention Centres. He has worked with companies on M&A activities and large scale program recovery, and as a qualified Programme Director he has managed and advised on some of the largest programs within the Australian government. Mr. Horsfall has founded and been involved in numerous companies in the information technology, consulting, finance, hospitality and real estate sectors. He brings with him an extensive network and relationships combined with an in-depth understanding of government, which he will leverage to full advantage.

The strategic partnership between PVA and the Richmond Valley Council accelerates PUF’s aggressive global expansion trategy. The cannabis cultivation application protocols in Australia are similar to the Health Canada ACMPR process where requirements are broad and restrictive, and substantial funding is required. It includes an extensive police check, plus strict regulations on the type and amount that security cultivation facilities will require. PVA will file its formal application with the Office of Drug Control in the coming weeks and is working diligently toward becoming a licensed producer in Australia.

Natures Hemp Corp.

Natures Hemp is a private federal 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 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.

EXPLORATION AND EVALUATION PROPERTIES

Lac Saint Simon Property, Quebec

On August 2, 2016, the Company announced that it had acquired a 100% interest in certain mineral claims located in west central Quebec, Canada, and is situated approximately 2 km from the boundary of Nemaska Lithium’s Whabouchi Project, known as the Lac Saint Simon Lithium (the “Lac Saint Simon Property”) through the issuance of 2,000,000 PUF Shares valued at $0.065 per PUF Share for total value of $130,000.

On January 12, 2017, the Company announced that it had entered into a confidentiality agreement with a publicly traded natural resource company regarding the potential sale of the Lac Saint Simon Property, as the potential strategic disposition of this property will repatriate value for the PUF Shareholders and will also streamline operational focus, positioning the Company as a pure-play bio medical cannabis company.

On April 12, 2017, the Company announced that it was in the process of finalizing negotiations for the sale of the Lac Saint Simon Property. A National Instrument 43-101 compliant technical report was currently being authorized and completed, which encompasses the preliminary reconnaissance exploration program that was conducted along with the recently completed airborne geophysical survey. According to Nemaska, the Whabouchi Project is one of the most important spodumene lithium hard rock deposits in the world both in volume and grade. A mineral reserve estimate prepared by MetChem using the updated Mineral Resource block model suggests that Whabouchi hosts an estimated 20 million tonnes of Proven and Probable Reserves with a grade of 1.53% Li2O Open Pit and 7.3 million tonnes of Proven and Probable Reserves with a grade of 1.28% Li2O Underground. The mineralization hosted on the Whabouchi property is not necessarily indicative of the mineralization hosted on the Company’s Lac Saint Simon Property.

On June 5, 2017, the Company announced that it had sold its Lac Saint Simon Property to Volt pursuant to a mineral property acquisition agreement dated June 1, 2017 with Volt. In consideration for the sale of 100% of the asset, the Company was granted 2.5 million common shares of Volt.

Chuchi Property, British Columbia

The Company owns a 100% interest in certain mineral claims located in the Omineca Mining Division of British Columbia, referred to as the Chuchi Property.

In December 2008, the Company wrote down the recorded cost of the Chuchi Property to nil. On March 17, 2014, the Company announced that it received the decision in the arbitration hearings between the Company and the vendors of the Chuchi Property. The arbitration stemmed from the Company allowing a number of claims to lapse in 2007 and subsequently acquiring certain claims covering a portion of the area of the lapsed claims at a later date from a third party. The arbitrator in the case ruled in favour of the Company’s claim that the 3% net smelter royalty (“NSR”) that was attached to the original claims (that were dropped) does not apply to the disputed ground. As such, the vendors of the Chuchi Property own a 3% NSR on only the five core claims to the Chuchi Property, which cover only 1,695.94 hectares of the total 5,365.24 hectares that constitute the Chuchi Property. In addition, the vendors’ claim for damages for breach of contract by reason of the forfeiture of mineral claims acquired under the agreement was dismissed, and the vendors must immediately remove the notice to third party that they had previously filed with the Mining Recorder’s Office on the records of the mineral claims. The Company must pay the vendors a total of $40,351 (representing the 2012 and 2013 advance royalty payments plus prejudgment interest) which was paid on June 27, 2014, and the Company is also required to continue to pay to the vendors an advance royalty payment in the amount of $20,000 per year on or before October 25 in each subsequent year that the Company holds any interest in the five core mineral claims.

Recent developments

January 16, 2018 – PUF Ventures Inc. announced that on January 16, 2018 (the “Effective Date”), they completed a statutory arrangement under a plan of arrangement (the “Arrangement”). As a result of completing the Arrangement, MTEC became a reporting issuer in the provinces of British Columbia, Alberta and Ontario.

Completion of the Arrangement, as set forth in the arrangement agreement and plan of arrangement dated September 7, 2017, as amended on October 11, 2017 (the “Arrangement Agreement”), between PUF and Vapetronix Holdings Inc. (formerly, Weed Points Loyalty Inc., now Cannvas Medtech Inc.), was approved by the shareholders of PUF on November 24, 2017 and by a Final Order granted by the Supreme Court of British Columbia on November 30, 2017 in accordance with Part 9 of the Business Corporations Act (British Columbia).

Pursuant to the Arrangement Agreement and on the Effective Date, the following occurred:

PUF distributed 100% of the common shares of MTEC (“MTEC Shares”) it received to the shareholders of PUF (the “PUF Shareholders”) on a pro rata basis. The PUF hareholders received one MTEC Share in exchange for every seven (7) common shares of PUF held as at the Record Date, October 4, 2017; UF transferred the assets to MTEC; MTEC became a reporting issuer in the Provinces of British Columbia, Alberta and Ontario; and PUF retained its working capital for its assets, remains listed on the CSE and will continue to trade under the trading symbol, PUF, as a consumer products – biotechnology/pharmaceuticals company.

January 26, 2018 – PUF Ventures Inc. an advanced Access to Cannabis for Medical Purposes Regulations (“ACMPR”) license applicant, is pleased to announce that in response to Health Canada’s January 25, 2018 announcement regarding changes to the physical security requirement under the ACMPR, the Company is moving to immediately complete the video recording for the Confirmation of eadiness submission and call for a Health Canada inspection of its London, Ontario facility. The facility will have an annual production of approximately 600 kilograms of medical cannabis.

February 1, 2018 – PUF Ventures Inc. , and Cannvas Medtech Inc. (“MTEC”) announced the formation of a technology partnership between MTEC and Blox Labs Inc. , a technology company specialized in decentralized ledger technology, smart contracts and blockchain development.

MTEC will use its extensive expertise in strategic creative marketing campaigns including SEO, digital branding and other related services to create a high-quality strategic communications campaign for Blox's investor base and partners as the it drives its business growth with multiple blockchain projects. The increased connectivity will facilitate the sharing of Blox news, projects and media through digital and obile networks. This alliance also opens the door to exploring new and innovative digital business solutions.

February 15, 2018 – PUF Ventures Inc. an advanced Access to Cannabis for Medical Purposes Regulations (“ACMPR”) license applicant, and its strategic partner MYM Nutraceuticals (CSE: MYM) are pleased to announce the Casino, New South Wales based Solaris utraceuticals Pty Ltd, which is building the largest medical cannabis greenhouse southern hemisphere,has been awarded a AUD$2,500,000 Regional Jobs Investment Program (RJIP) grant, through Federal Department of Innovation, Industry & Science.

The new facility will be Australia’s largest growing, manufacturing, processing and research facility in Australia. This is an innovative project which will help patients, create new jobs, complete further research and develop new products in the medical cannabis field.


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