PUF Ven­tures ap­plies for Aus­tralian cannabis li­cences

Stockwatch Daily - - MINES & METALS - Mr. Derek Ivany re­ports

PUF VEN­TURES Inc.’s Aus­tralian unit has filed three ap­pli­ca­tions with the Aus­tralian Of­fice of Drug Con­trol for the cul­ti­va­tion, pro­duc­tion and man­u­fac­ture of cannabis at the North­ern Rivers project, a pro­posed 1.2-mil­lion-square-foot green­house and ex­trac­tion fa­cil­ity in Rich­mond Val­ley Shire, New South Wales, Aus­tralia. The ap­pli­ca­tions, if suc­cess­ful, will al­low PUF Ven­tures Aus­tralia to take cannabis from seed to fin­ished prod­uct.

PUF Ven­tures Aus­tralia also an­nounces that af­ter fur­ther anal­y­sis, the green­house and ex­trac­tion fa­cil­ity will be 1.2 mil­lion square feet in area, 20-per-cent larger than first an­nounced. The North­ern Rivers project is work­ing with ex­perts in Aus­trala­sia and Canada in sup­port of the ap­pli­ca­tion with the Aus­tralian gov­ern­ment.

“We fully ex­pect our ap­pli­ca­tion to be suc­cess­ful and are mov­ing ahead with build­ing per­mits, in­fra­struc­ture and other ap­pli­ca­tions to sup­port the North­ern Rivers joint ven­ture project,” said Michael Hors­fall, chief ex­ec­u­tive of­fi­cer of PUF Ven­tures Aus­tralia. “We have as­sem­bled a world-class team in Aus­tralia and Canada who are com­mit­ted to build­ing the largest med­i­cal cannabis project in the south­ern hemi­sphere. I am also pleased to an­nounce that we have in­creased the over­all scale of the project by ap­prox­i­mately 20 per cent, as we see the de­mand in Aus­tralia and the po­ten­tial of ex­port­ing cannabis prod­ucts grow­ing ex­po­nen­tially.”

“I am very im­pressed with the speed the North­ern Rivers joint ven­ture project is mov­ing and look for­ward to see­ing the first crop planted in late 2018,” said Derek Ivany, pres­i­dent and chief ex­ec­u­tive of­fi­cer of PUF Ven­tures. “The scope of the North­ern Rivers project is im­pres­sive and the sup­port from lo­cal au­thor­i­ties has been in­cred­i­ble. As we con­tinue to fo­cus on be­com­ing a li­censed pro­ducer in Canada, we are also ag­gres­sively pur­su­ing other op­por­tu­ni­ties like Na­tures Hemp in Canada and the North River project in Aus­tralia.”

North­ern Rivers project

The North­ern Rivers project is a joint ven­ture be­tween PUF Ven­tures, PUF Ven­tures Aus­tralia, and MYM Nu­traceu­ti­cal, to build a 1.2-mil­lion-square-foot green­house op­er­a­tion on a 27-hectare par­cel of land near the town of Casino in north­ern New South Wales, Aus­tralia. When com­plete, the op­er­a­tion will in­clude large-scale green­house, man­u­fac­tur­ing, pro­cess­ing and of­fice fa­cil­i­ties for the cul­ti­va­tion, pro­duc­tion and man­u­fac­ture of med­i­cal cannabis and as­so­ci­ated

prod­ucts in Aus­tralia. The first phase of the project will cover ap­prox­i­mately 300,000 square feet, which will be the largest med­i­cal cannabis green­house in Aus­tralia. Based on cur­rent con­struc­tion time­lines, per­mit­ting and var­i­ous Aus­tralian ap­provals, the first crop is ex­pected to be planted in the fourth quar­ter of 2018.

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 Canada. The com­pany has an op­tion to ac­quire the bal­ance of shares to own 100 per cent of AAA Hei­del­berg Inc. upon re­ceipt of the ACMPR li­cense. Through a sup­ply agree­ment with Canopy Growth Corp., the com­pany has joined CraftGrow, a col­lec­tion of high-qual­ity cannabis grown by a se­lect and di­verse set of pro­duc­ers, made avail­able to the Cana­dian mar­ket 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.

We seek Safe Har­bor.

Jerry Habuda, Christo­pher Paul Hor­nung, Derek Lloyd Harry Ivany, Joseph Perino, Land Ti­tle Com­pany Inc What­com

(PUF) Shares: 50,527,458

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