PUF Ventures (CSE:PUF, Frankfurt:PU3, OTCPK:PUFXF), announces that it intends to spin out its WeedBeacon proprietary technology, current app developments, databases, graphics, brochures and other marketing materials and liabilities (the “Assets“) into its wholly-owned subsidiary, Vapetronix Holdings Inc. (“Spinco“) by way of a plan of arrangement (the “Arrangement“) pursuant to Division 5 of Part 9 of the Business Corporations Act (British Columbia).
The purpose of the Arrangement is to allow the Company to divest itself of the Assets to Spinco, enabling PUF to focus on the grow side of medical cannabis with a particular emphasis to growing cannabis for its joint venture partnership with Canopy Growth Corp. (TSX: WEED), under CraftGrow.
The Arrangement will be subject to the approval of the Supreme Court of British Columbia, as well as approval by the PUF shareholders at an annual general and special meeting to be held on Friday, November 24, 2017 (the “Meeting“). Pursuant to the Arrangement, PUF will distribute 100% of the common shares of Spinco (the “Spinco Shares“) it receives to the PUF shareholders on a pro rata basis. The PUF shareholders will be entitled to receive one Spinco Share in exchange for every seven (7) common shares of PUF held as at October 4, 2017 (the “Record Date“). There will be no change in shareholders’ holdings in PUF as a result of the Arrangement. No outstanding warrants or options of PUF will be transferred over to Spinco.
Following completion of the Arrangement, (i) Spinco will hold the Assets transferred to it by PUF, (ii) Spinco will become a reporting issuer in the Provinces of British ColumbiaAlberta and Ontario, and intends to list for trading on the Canadian Securities Exchange, (iii) each PUF shareholder will continue to be a PUF shareholder, (iv) all the PUF shareholders will have become shareholders of Spinco, and (v) PUF will retain its working capital for its Assets, and remain listed on the Canadian Securities Exchange and will continue to trade under the trading symbol, PUF, as a consumer products – biotechnology/pharmaceuticals company.
Details of the proposed Arrangement will be provided in a Management Information Circular that will be mailed to all the PUF shareholders as at the Record Date. At the Meeting, the PUF shareholders will be asked to vote on a special resolution approving the Arrangement. The PUF shareholders of record as at the Record Date of October 4, 2017 will be eligible to vote on the Arrangement.
The effective date of the Arrangement is expected to be in December 2017. A further press release will be issued by the Company with additional details regarding the Arrangement and when the exact effective date is known.
“For this proposed spin-off, I have assembled a special team of seasoned business technology professionals to carry on the development of WeedBeacon and other related cannabis related technology assets to the benefit of our current shareholder base,” said Derek Ivany, President and CEO of the Company. “PUF has continued to deliver value to shareholders as we navigate through the rigorous process of licensing with Health Canada by being a diversified company. I believe now is the time to maximize the value of these technology assets by deploying a strategically focused technology team that will maximize their decades of experience to making this new company a tremendous success. Over the course of the next business week, details pertaining to the objectives of the proposed spin-off will be released. This will include the introduction of our seasoned executive team, company mission statement, and overall objective as we propel this spin-co into the medical marijuana technology space.”
About PUF Ventures Inc.
PUF Ventures Inc. owns a majority interest in AAA Heidelberg Inc., a private Ontario company that is an advanced applicant for an ACMPR license from Health Canada. The Company has an option to acquire the balance of shares to own 100% of AAA Heidelberg Inc. upon receipt of the ACMPR license. Through an exclusive joint venture agreement with Canopy Growth Corp., the Company 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. While it cannot guarantee nor estimate the timing of the issuance of a license to AAA Heidelberg Inc. it is management’s goal to become a leading supplier of medical marijuana in Canada.
Vapetronix Holdings Inc., a wholly-owned subsidiary of the Company, is in the process of developing Weedbeacon, and expanding its 1313 brand of electronic cigarettes, marijuana vape delivery devices and associated technologies. For more information 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.
SOURCE PUF Ventures 
For further information: Suite 804 – 750 West Pender Street, Vancouver, BC, V6C 2T7, T: (800) 783-6056 / F: (604) 685-6905 / W: www.puf.ca
Click here to connect with PUF Ventures (CSE:PUF, Frankfurt:PU3, OTCPK:PUFXF) to receive an Investor Presentation.

Source: www.newswire.ca


TerrAscend Corp. (“TerrAscend” or the “Company”) (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced Jason Ackerman Chief Executive Officer and Executive Chairman of TerrAscend, Keith Stauffer Chief Financial Officer, and Jason Wild Chairman, will participate in three upcoming conferences:

  • Cowen’s 3rd Annual Boston Cannabis Conference, a virtual event taking place November 30-December 2 , 2020. Jason Ackerman will participate in a panel, U.S. MSOs: The West, on November 30, 2020 at 10:25 a.m. ET . Management will also host one-on-one meetings with investors throughout the conference.
  • 2020 Cantor Fitzgerald Virtual Cannabis MSO Summit, a virtual event taking place on December 15-16, 2020 . Jason Ackerman is scheduled to participate in a fireside chat on December 16 th at 1:00 p.m. ET . To register for the fireside chat: Click Here
  • 23 rd Annual Needham Virtual Growth Conference, a virtual event taking place January 11-15, 2021 . Jason Ackerman is scheduled to participate in a fireside chat on January 14, 2021 at 2:45 p.m. ET . Management will also host one-on-one meetings with investors throughout the conference. To register for the fireside chat: Click Here

The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Keep reading... Show less
  • Aurora strategically positioned within two of the largest legal cannabis markets outside of Canada
  • Agreement with Israeli leader Cantek provides access to Israel’s drugstore channel
  • Finished product is co-branded under Aurora and Cantek brands

NYSE | TSX: ACB

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today it has entered into a strategic Supply Agreement (the “Agreement”) with Cantek Holdings (“Cantek”), one of Israel’s leaders in the medical cannabis field.

Keep reading... Show less

ARCOLOGY NETWORK ACHIEVES MAJOR TECHNICAL MILESTONES TOWARD POTENTIAL COIN OFFERING

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company’s holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, is exploring a potential coin offering, following the results of its first Testnet where the Arcology team achieved major product development milestones

Keep reading... Show less

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors that purchased Aurora Cannabis, Inc. (NYSE: ACB) securities between February 13, 2020 and September 4, 2020 (the “Class Period”). Investors have until December 1, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

Keep reading... Show less

The coming together of two Canadian beverage industry leaders will form a unique vertical in the plant-based mineral and cannabis beverage sectors

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Keep reading... Show less