Thursday, October 19, 2017 8:57:51 AM
VANCOUVER , Sept. 27, 2017 /CNW/ - PUF Ventures Inc. ("PUF" or the "Company") (CSE: PUF) (PU3.F) (PUFXF), is pleased to announce that it has agreed to a strategic partnership with the Richmond Valley Council, the local government in the Northern Rivers region of northeastern New South Wales, Australia , to construct a 1 million-square-foot greenhouse operation, with large scale manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products in Australia . The agreement is between the Richmond Valley Council and PUF Ventures Australia ("PVA"), a recently formed, majority owned subsidiary of the Company, which shall be led by Mr. Michael Horsfall of Sydney , New South Wales, Australia as President and CEO. At full scale, the new facility will have the capacity to support annual production of 100,000 kilograms of high quality cannabis, which equates to an associated annual revenue generation potential of between C$800 million and C$1.1 billion (based on current pricing metrics in the Australian cannabis marketplace).
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