PUF Ventures Inc. (CNSX:PUF) announced the spin-off of its WeedBeacon proprietary technology, current app developments, databases, graphics, brochures and other marketing materials and liabilities on September 7, 2017. Pursuant to the arrangement, PUF Ventures Inc. will spin-out the mentioned assets into its wholly-owned subsidiary, Vapetronix Holdings Inc. PUF Ventures will distribute 100% of the common shares of Vapetronix Holdings Inc. it receives to the PUF Ventures shareholders on a pro rata basis. The PUF Ventures shareholders will be entitled to receive one Vapetronix Holdings share in exchange for every seven common shares of PUF Ventures held. No outstanding warrants or options of PUF will be transferred over to Vapetronix Holdings. The record date for the spin-off is October 4, 2017. Following completion of the arrangement, Vapetronix Holdings Inc. will become a reporting issuer in the Provinces of British Columbia, Alberta and Ontario, and intends to list for trading on the Canadian Securities Exchange. Each PUF shareholder will continue to be a PUF shareholder, all the PUF shareholders will have become shareholders of Vapetronix Holdings and PUF will retain its working capital for the transferred assets, and remain listed on the Canadian Securities Exchange and will continue to trade under the trading symbol, PUF, as a consumer products – biotechnology/pharmaceuticals company.

The arrangement will be subject to the approval of the Supreme Court of British Columbia, as well as approval by the PUF shareholders at an annual general and special meeting to be held on November 24, 2017. PUF shareholders approved the transaction at annual general and special meeting held on November 24, 2017. On November 30, 2017, the Supreme Court of British Columbia approved the arrangement agreement. The effective date of the arrangement is expected to be in December 2017.

PUF Ventures Inc. (CNSX:PUF) completed the spin-off of its WeedBeacon proprietary technology, current app developments, databases, graphics, brochures and other marketing materials and liabilities on January 12, 2018. Upon completion, the spun-off entity is renamed Cannvas MedTech Inc. The distribution date is January 16, 2018.