PUF Ventures Inc. (CSE:PUF, Frankfurt:PU3, OTCPK:PUFXF) (“PUF” or the “Company”), an advanced Access to Cannabis for Medical Purposes Regulations (“ACMPR”) license applicant, is pleased to provide an update to the previously announced Equity Participation and Earn-In Agreement (the “Agreement”) with Delta Organic Cannabis Corp. (“DOCC”), a privately held Toronto-based cannabis investment company backed by preeminent leaders in Canadian cannabis enterprise, for up to a $40 million investment at a price of $2.24 per PUF share for the development of a large-scale, commercial medical cannabis cultivation operation in Delta, British Columbia.

PUF and DOCC have agreed to an extension to deadline for the first advance of funds by DOCC to PUF to October 17, 2018.  As previously stated the completion of the transaction is subject to a number of conditions, including, but not limited to, completion of satisfactory due diligence, and the approval of the transaction by the Exchange, and the boards of directors of each of PUF and DOCC. Due to the size and complexity of the transaction, additional time is required to complete the transaction. All other terms of the contract do not change.


“We are working diligently to complete the transaction in a timely fashion,” said Christopher MacIntyre, President of Delta Organic Cannabis Corp. “The scale and size of this project once converted will place us among a small but elite group of large-scale cannabis cultivation and propagation facilities.”

“While PUF, DOCC and Propagation Services Canada are moving quickly to finalize the principal agreement, along with multiple ancillary and shareholder agreements relevant to this transaction, more time is necessary,” said Derek Ivany, President and CEO of PUF Ventures. “We anticipate closing of the transaction by October 17, subject to Exchange and other approvals. The announcement of the transaction to fully fund the existing 2.2 million square foot greenhouse has generated significant inbound interest related to multiple important aspects of the go-forward business. The Delta Facility is poised to become one of the premier production sites for Canadian cannabis.”

The proceeds of the subscriptions are to be used exclusively to develop the Delta propagation facility consisting of 2,200,000 square feet of illuminated greenhouse space and 1,700,000 square feet of “ebb and flood” irrigation space. This is an arm’s length transaction and no finder’s fees are to be paid.

About Delta Organic Cannabis Corp.

DOCC is Canadian focused vertically integrated cannabis company formed by some of the most successful early-movers in the space.

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 including AAA Heidelberg and Propagation Services Canada in Canada, a large-scale greenhouse project in Australia and actively pursuing other opportunities within the cannabis industry. PUF has an option to purchase 100% of AAA Heidelberg Inc., an advanced applicant for an ACMPR license. 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.

Click here to connect with PUF Ventures Inc. (CSE:PUF, Frankfurt:PU3, OTCPK:PUFXF) for an Investor Presentation.

Source: www.newswire.ca

BevCanna Enterprises (CSE:BEV,OTCQQ:BVNNF,FWB:7BC) CEO Marcello Leone shared how the company is scaling up its products to forge partnerships and explore opportunities across Canada, the US and Western Europe. 

“Getting your standard processing license and being fully compliant at a federal level is critical in Canada, and we were successful in getting that done. Now we’re getting ready to launch our Keef line of beverages within the next 45 days,” Leone said. 

As a young company, Leone said BevCanna has only started, but it took a four-pronged approach to make sure that it is a revenue-generating company prepared for the opening of many jurisdictions for CBD-based products.

“We are blessed that we have a beautiful infrastructure of our own, a state-of-the-art bottling facility with a capacity of almost 200 million bottles per annum and a strong balance sheet of $55 million. We are in a strong position to scale and grow this company.”

BevCanna has received a Standard Processing License from Health Canada and is now fully authorized to begin production at its full-service, high-capacity beverage manufacturing facility. The company will begin production of its white-label products, number one US cannabis beverage brand Keef and its in-house beverages through licensed Canadian retailers, positioning the company to fully capitalize on the burgeoning Canadian cannabis-infused beverage sector.

Watch the full interview with CEO Marcello Leone above.

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Sign up to get a free spectator pass for the event: https://www.benzinga.com/events/small-cap/clean-tech/

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Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that its wholly-owned subsidiary Naturo Group has successfully completed its initial shipment of TRACE plant-based products to one of Japan’s largest beverage distributors.

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Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced an additional refreshment of its board of directors to further strengthen its leadership in the cannabis industry.

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