Agraflora Ventures Ltd (AGRA)

[PotterBanker]

news is a big earn-in deal

https://www.newswire.ca/news-releases/puf-ventures-announces-40-million-investment-for-development-of-large-scale-cannabis-cultivation-facility-in-delta-bc-694289291.html

VANCOUVER, Sept. 25, 2018 /CNW/ - PUF Ventures Inc. ("PUF" or the "Company") (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF), an advanced Access to Cannabis for Medical Purposes Regulations ("ACMPR") license applicant, and Delta Organic Cannabis Corp. ("DOCC"), a privately held Toronto-based cannabis investment company backed by preeminent leaders in Canadian cannabis enterprise, today signed an Equity Participation and Earn-In Agreement (the "Agreement") which provides for up to $40 million in investment at a price of $2.24 per PUF share for the development of a large-scale, commercial medical cannabis cultivation operation in Delta, British Columbia.

The proceeds of the subscriptions shall be used exclusively to develop the Delta propagation facility (the "Delta Facility") consisting of 2,200,000 sq. feet of illuminated greenhouse space and 1,700,000 sq. feet of "ebb and flood" irrigation space. This is an arm's length transaction and no finder's fees are to be paid.