(CSE:PUF; OTC:PUFXF; FRA:PU3)
PUF Ventures: Derek Ivany, President and CEO.
CCIM: Louis Kyron, Editor In Chief
Q: I do not think we could have timed this Q&A much better with all of the exciting recent news surrounding PUF. I know you are busy so let’s get right to it. Readers, PUF’s website can be accessed by clicking here where you will find everything from their latest news releases, investor information, and their business plan.
Derek, thank you for your time today ... let’s turn the clock back to April when it was announced you would be spinning out Natures Hemp Corp. and also MedTech Inc. Why was this done and to what value to shareholder ... and based on a recent news release can you provide an update on the status of the Natures Hemp Inc’s special warrant financing
A: Louis, it’s a pleasure speaking with you today.
First, I would like to say that the Company has been battling this ACMPR process for over five years now, and its been two years since I have taken over the Company. Sensing the ACMPR process would continue to be slow and realizing that the Company would have to expand from a single facility in London, ON I made the decision to pursue other parts of the cannabis value chain on an international basis.
The first opportunity was on the technology side of the business which subsequently became Canvass MedTech. We formed a very strong leadership team with specific talents within the high-tech arena and concluded that it would have greater value as a standalone business. PUF shareholders at the time received a generous bonus in the form of a stock dividend as Cannvas MedTech went public on the Canadian Stock Exchange. The stock opened strong and continues to trade quite well. It has been a great win for PUF Shareholders and I am very pleased to see the management team making some very big moves and developments.
We have been very careful with respect to dilution of PUF’s share structure and believe that it is important to consider spin-offs to
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