PUF Ventures to acquire Natures Hemp
PUF VENTURES Inc. has entered into an agreement to purchase Natures Hemp Corp., a private company developing proprietary hemp-based food and medicinal products with a major Canadian university. Terms of the transaction have not been finalized.
“We are building a global, vertically integrated cannabis company and Natures Hemp with their hemp-base d food and medicinal products and plans for cultivation is a natural fit with our overall strategy for PUF,” said Derek Ivany, president and chief executive officer of PUF Ventures. “The market for hemp-based products is growing at a phenomenal rate. Natures Hemp is currently working closely with senior levels of provincial and federal governments for its application for hemp cultivation and to secure development grants and loans for a new facility in Ontario. The facility will allow for greater product development, and processing and packaging new lines of food and other hemp-based products expected to be launched by the summer of 2018. We appreciated the government’s continuing support for Natures Hemp and look forward to completion.”
Natures Hemp Corp. is a private company based in Vancouver, B.C., and is currently in the process of applying for a licence 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 fibres, it is the hemp seeds that are critical in 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, contain 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 continuing 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 fibre), immune system booster, and an ability to lower blood pressure and cholesterol.
Hemp and hemp-derived CBD products are among the fastest-growing segments in the cannabis industry. A recent article published in the Hemp Business Journal indicated an expected CBD consumer market of $2.1-billion by 2020.
About PUF Ventures Inc. PUF Ventures owns a majority interest in AAA Heidelberg Inc., a private Ontario company that is an advanced applicant for an ACMPR (access to cannabis for medical purposes regulations) licence from Health Can ada. The company has an option to acquire the balance of shares to own 100 per cent of AAA Heidelberg upon receipt of the ACMPR licence. Through an exclusive joint venture agreement wi th Can opy 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.
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