The Board of PUF Ventures Inc. (CNSX:PUF) announced the spin-off of Natures Hemp Corporation on April 4, 2018. The spin-off will be by way of a plan of arrangement, pursuant to which shareholders of PUF Ventures Inc. will receive shares in Natures Hemp Corporation. The plan of arrangement is expected to be finalized within May 2018. As of May 18, 2018, an arrangement agreement was entered into. Under the arrangement, one new common share in Natures Hemp will be issued for every 3.3665 PUF shares held on a pro rata basis, held as at the record date, being, June 18, 2018. Natures Hemp will issue approximately 17.5 million common shares of Natures Hemp to the PUF shareholders. Following completion, Natures Hemp will become a reporting issuer in the Provinces of British Columbia, Alberta and Ontario, intends to apply for listing on the Canadian Securities Exchange.

The plan of arrangement will be subject to approval by the shareholders of PUF Ventures Inc. at a special meeting to be held on August 7, 2018, approval by the Supreme Court of British Columbia, approval by shareholder of Natures Hemp, all other consents, orders, regulations and approvals, including regulatory and judicial approvals and orders, required, necessary or desirable for the completion of the arrangement having been obtained and there not being in force any order or decree restraining or enjoining the consummation of the transactions contemplated by arrangement and the agreement not having been terminated. The Board of PUF Ventures Inc. approved the arrangement. The PUF Board concluded that the arrangement is in the best interests of the company and the PUF shareholders, and unanimously recommends that the PUF shareholders vote for the arrangement resolution at the meeting. On June 29, 2018, Notice of meeting and management information circular was mailed to shareholders for special meeting of PUF shareholders to be held on August 7, 2018. As of August 7, 2018, the transaction was approved by the shareholders of PUF Ventures Inc. The Supreme Court of British Columbia approved the plan of arrangement on August 13, 2018. The share exchange is expected to take place on September 4, 2018. Computershare Investor Services Inc. acted as registrar and transfer agent for PUF Ventures.