VANCOUVER, July 3, 2018 /CNW/ - PUF Ventures
Inc. ("PUF" or the "Company") (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF), is pleased to announce
the science of plant propagation has arrived for the medical and recreational cannabis growers of Canada. On June 29, 2018 the Company announced the formation of Propagation
Services Canada Inc. ("PSC") through a partnership with Casey Houweling. By outsourcing
propagation services licensed producers of cannabis can significantly increase revenue while reducing the risk association to
cloning cannabis plants.
"Our partnership with Casey brings the science of plant propagation to the emerging cannabis industry in Canada on a large scale," said Derek Ivany, President & CEO, PUF Ventures
Inc. "We conducted a thorough analysis of the industry and identified how plant propagation will bring significant benefits to
the many licensed producer operating in Canada. Not only does it simplify operations, the
additional product gained from the repurposed square footage generates significant incremental revenue. Initial discussions with
licensed producers confirms their interest in Propagation Services Canada products."
Greenhouse plant propagation is a specialization that is used all over the world for a wide variety of plants. In Canada, the cannabis industry has become a significant economic force with the legalization of cannabis
scheduled for October 17, 2018. Those licensed producers that eliminate costs and optimize
operations will succeed over the long-term. With the introduction of propagation and the forming of PSC, PUF has taken a "first
mover advantage" position with regard to propagation in the cannabis market in Canada.
In a recent review of opportunities within the Canadian cannabis industry, it was evident that there are significant benefits
to providing flower ready plants to cannabis cultivators. Plant propagation simplifies growing operations while significantly
enhances top line revenue and operating profits.
Approximately 20 to 30 percent of a license producer's greenhouse is dedicated to cannabis propagation. By using third-party
propagation services, this area can be repurposed to growing flowering plants and generate proportional topline revenue
increases. In addition, third-party specialized propagation can improve horticultural and operational challenges:
- Clean stock genetics and offsite genetics bank for LPs.
- Reduced contaminates, pest and disease pressure on flowering plants without crop failures.
- Less complicated staffing requirements and easier training,
- One purpose facility with more efficient operating procedures.
Furthermore, propagation operations are complicated and require specialized knowledge and expertise to ensure high quality
clones without disease and contaminates. Starter plants mitigate these challenges and allows cannabis cultivators to focus upon
growing and processing flowering plants.
Through Propagation Services Canada, licensed producers can reallocate valuable greenhouse growing area, currently dedicated
to mother cannabis plants and propagating clones, to growing flowering plants.
Summary of PUF Operations
The PSC 50/50 joint venture was formed between PUF and Casey Houweling, a vegetable greenhouse
grower with over 40 years of floral and vegetable propagation experience. PSC has an exclusive 15-year license to
Houwelings' currently operating, large-scale, vegetable propagation, 2.2 million square foot greenhouse in Delta, BC.
PUF has a 35 percent ownership position in Solaris Nutraceuticals, a partnership with MYM Nutraceutical which is building a
large-scale, hi-tech and ultra-efficient 1.2 million sq. ft. cannabis greenhouse in New South
Wales, Australia. Solaris has submitted applications for growing licenses and building permits to regulatory bodies and
has not received approvals.
PUF is the majority owner of AAA Heidelberg, an advanced Access to Cannabis for Medical Purposes Regulations ("ACMPR") license
applicant. In February 2018, AAA submitted a confirmation of readiness package for its facility in
London, Ontario. The facility is ready to start medical cannabis production immediately after
receiving a license. PUF management has been in contact with Health Canada a number of times clarifying certain points included
in the submission. PUF is now awaiting word from Health Canada on the status of our license and is unable to provide a time line
to the completion of the review our submission.
About Propagation Services Canada Inc.
Propagation Services Canada is a joint venture company focused on the cannabis propagation market in Canada. Its Delta facility is one of the most technologically advanced
greenhouses in North America, with full propagation services, experienced staff and 18 MW of
power in place. For more information on the greenhouse and company please visit www.propcan.com.
About Solaris Nutraceuticals Inc.
Through a partnership in Solaris Nutraceuticals, PUF and MYM Nutraceuticals Inc. (CSE: MYM) are advancing the science of
medical cannabis in Australia. Solaris has submitted applications and plans with Australia's Office of Drug Control to build a 1.2 million square-foot greenhouse facility with cannabis
production space and a medical research center in the Northern Rivers Region of New South Wales.
The facility will deliver environmentally friendly, sun grown medicinal grade cannabis and develop medicines and treatments for
pain management and other medical conditions. Solaris has also recently teamed up with Southern Cross University to develop hemp
and medicinal cannabis products that will enhance animal and human health. For more information, visit www.solarisnutraceuticals.com.
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: AAA Heidelberg, Solaris Nutraceuticals Pty Ltd., and Natures Hemp Corp., and is actively
pursuing other opportunities within the industry. PUF has an option to purchase 100% of AAA Heidelberg Inc., an advanced
applicant for an ACMPR license. Solaris Nutraceuticals is building the largest medical cannabis greenhouse in the Southern
Hemisphere. 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.
SOURCE PUF Ventures
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