PUF_logoChlormet Technologies, Inc, a former mining company, is a relatively recent addition to the medical marijuana sector. The Vancouver, Canada-based company has been developing mineral properties in Canada and Tanzania, and earlier in 2014, it announced that it will invest in medical marijuana.

Formerly known as the Newton Gold Corp, the company changed its name to Chlormet Technologies, Inc in November 2013. The following June, it then delisted itself from the TSX Venture Exchange, in which it traded as CMT.

Chlormet Technologies now trades in the Canadian Securities Exchange as PUF, and has a market cap of USD 2.71 M.

Since operating as a mining company, Chlormet Technologies has been exploring mineral deposits of copper, gold, and silver. The company has a 100% interest with 15 mineral claims in a 5,400-hectare area called the Chuchi Property, located in British Columbia’s Omineca Mining Division. At the same time, it also has a 5% net profit interest in the Newton property’s nine mineral claims over a 4,113-hectare area near Williams Lake, British Columbia.

Aside from these, Chlormet Technologies has the Sibley Road Property, an area of 648 hectares in Halifax County, Nova Scotia. This property has deposits of kaolin clay and silica sand, and has been found to have economic potential in titanium, white silica sand, and alumina.

Chlormet Technologies’ entry into the marijuana industry was revealed in April 2014, when the company announced its intention to invest in a marijuana grower. The grower was AAA Heidelberg, Ontario-based and currently cultivating 10 cannabis strains, which can sell at CAD 5-15 per gram. Once Heidelberg obtains its Marihuana for Medical Purposes Regulations (MMPR) license, it may produce as much as 1,320 pounds of marijuana in the first year.

Chlormet Technologies currently operates with CEO Yari Nieken, President Ian Flint, and CFO Ann Fehr.


Yahoo! Finance: PUF News

Latest Financial News for PUF