A diverse portfolio might set this marijuana stock apart. In the past four months, PUF Ventures Inc. (OTCPK:PUFXF) announced that they would be spinning out two different cannabis subsidiaries in 2018.
The first is Cannvas MedTech Inc., a technology, and business design firm that uses data to help cannabis business owners track customer trends. The original deal closed back in January, with existing PUF shareholders receiving new Cannvas shares. Since then, Cannvas executives and their PUF counterparts have been eagerly working toward an official listing on the Canadian Stock Exchange (CSE).
Then earlier this month, PUF announced another spin out. Natures Hemp Corp., a biotechnology company developing CBD-infused food, beverages, and healthcare products, will be launched on terms similar to the Cannvas spin out. Shareholders will receive new shares in Natures Hemp Corp., but the private cannabis company will be raising additional capital for operations.
This pot stock is running full-steam ahead. Since announcing their Access to Cannabis for Medical Purposes Regulations (ACMPR) last December, PUF Ventures is steadily building a widely diverse international cannabis brand.
The spin out with Natures Hemp means PUF will be developing and cultivating hemp in Canada. Natures Hemp is working with a local university to develop new proprietary extraction methods for high-quality cannabis oils. The company is applying for hemp cultivation licenses in Canada as well as one other international territory.
Along with hemp cultivation, PUF will be cultivating medical-grade cannabis much farther south. Their Australian company Solaris Nutraceuticals Pty Ltd, which is co-owned by MYM Nutraceuticals (CSE:MYM), received an AUS$2.5 million grant this February to build their new 1,200,000 square foot greenhouse in New South Wales. Grow space this big means Solaris can cultivate over 100,000 kilograms of medical cannabis annually from that greenhouse alone.
Most recently, PUF released an update on their other