Agraflora Ventures Ltd (AGRA)

[PotterBanker]

PUF Ventures Provides Update to Equity Participation and Earn-In Agreement with Delta Organic Cannabis Corp.

https://www.newswire.ca/news-releases/puf-ventures-provides-update-to-equity-participation-and-earn-in-agreement-with-delta-organic-cannabis-corp-696906601.html

VANCOUVER, Oct. 11, 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, is pleased to provide an update to the previously announced Equity Participation and Earn-In Agreement (the "Agreement") with Delta Organic Cannabis Corp. ("DOCC"), a privately held Toronto-based cannabis investment company backed by preeminent leaders in Canadian cannabis enterprise, for up to a $40 million 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.

PUF and DOCC have agreed to an extension to deadline for the first advance of funds by DOCC to PUF to October 17, 2018. As previously stated the completion of the transaction is subject to a number of conditions, including, but not limited to, completion of satisfactory due diligence, and the approval of the transaction by the Exchange, and the boards of directors of each of PUF and DOCC. Due to the size and complexity of the transaction, additional time is required to complete the transaction. All other terms of the contract do not change.....