PUF Ventures Provides Update to Spin Out Company Cannvas MedTech Inc.
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 regarding its spin out company Cannvas MedTech Inc.’s (“MTEC” or the “Cannvas”) Plan of Arrangement which closed on January 16, 2018.
The shareholders of PUF as at the record date of October 4, 2017 were eligible to receive one MTEC share for every seven shares of PUF held. The Plan of Arrangement closed on January 16, 2018, and the MTEC shares were distributed in anticipation to a listing on the Canadian Stock Exchange (the “CSE”). The Cannvas executive team has been working closely with the CSE and is in the final stages of listing.
“The pending listing on the CSE for the spinout of our non-core asset Vapetronix, which is now Cannvas, is another prime example of how to create value for our shareholders,” said Derek Ivany, President and CEO of PUF. “I believe Cannvas is on its way to become a leading health sciences company within the cannabis space. I congratulate Shawn Moniz and Steve Loutskou for their hard work and dedication with Cannvas, and I look forward to the company’s public listing to unlock real value to PUF shareholders.”
In the first quarter of 2018, the executive team at Cannvas made considerable progress to position the company as a leading business technology company within the health sciences industry. Cannvas designs and builds customer-centric technology platforms that enable partners to harness the power of data to truly understand their customers. Their first product to be launched in 2018 is a dynamic educational platform for the cannabis space. Here are additional milestones achieved by the Cannvas team:
- In the final stages of listing on the CSE;
- Setup several complimentary online brands: Cannvas Creative, Cannvas Data, Cannvas Connect, and techonesixty,
- Cannvas Creative, a marketing and branding agency which offers services to clients to achieve growth that outperforms the market, has been generating revenue since January 2018,
- Secured various digital assets including several hundred domains,
- Initiated discussions with several leading organizations within the health sciences and technology sectors to establish partnerships,
- Participating in several medical advisory and health innovation boards.
Shawn Moniz, CEO of Cannvas, and Steve Loutskou, Chief Operation Officer, Global Markets, continue to work diligently with various government agencies working toward the listing on the CSE and other partnerships and networking advancements within the health sciences sector.
On April 4, 2018, PUF announced a second spin-out of non-core assets for its wholly owned subsidiary Natures Hemp Corp. (“Natures Hemp”). Like the Cannvas transaction, the Natures Hemp transaction will be completed by way of a Plan of Arrangement and a listing application to the CSE. Natures Hemp is a biotechnology and consumer products company that is unlocking the true value of hemp. By developing a new generation of plant-based, nutrient rich cannabidiol (CBD) food, beverage and healthcare related products, its goal is to introduce a premium brand of quality CBD products with an emphasis on health and wellness. The Plan of Arrangement will have to be approved by the shareholders of the Company and the Supreme Court of British Columbia.
About Cannvas MedTech Inc.
Cannvas Medtech is a leading business technology company within the health sciences space. We design and build customer- centric platforms that enable our partners to harness the power of data to truly understand their customers.
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
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 Company’s future plans, objectives or goals, including words to the effect that the Company 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.
The post PUF Ventures Provides Update to Spin Out Company Cannvas MedTech Inc. appeared first on Investing News Network.