VANCOUVER, British Columbia, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (“Redfund” or the “Company”) provides corporate update plus first quarter client financing rundown.
Redfund Capital is pleased to announce Warren D. Cudney, CEO of Wahupta Ventures Inc. to our advisory team. He is recognized as a leader in corporate start-ups and is a speaker in the field of health and wellness, most recently specializing in the emerging hemp and CBD oil and isolate industry throughout North America and the world. As a top C level strategist in this field, Warren is intimately involved with strategic planning and implementation, as well as acting as a key team player in managing this highly specialized field from genetics to finished product development. He is devoted to industry-leading quality control, ensuring that the team vision and corporate goals are continuously met, and creating an environment that ensures excellence in the industry.
Wahupta has been creating a hemp buzz in the western Canadian prairie fields for almost 2 years. As released by Wahupta on January 11 th 2019, in its first year in operation, Wahupta harvested an unparalleled 975 acres of hemp and amassed 2.5 million pounds of hemp biomass. Redfund has been advising Wahupta for the past year.
In our First Quarter , Redfund Capital has extended funds to three cannabis companies. The amounts Redfund has advanced to date under the loan facilities, which are specifically designed to be issued in tranches as the investee company advances and reports on its business plan. They are as follows:
RxMM Health, entered into a USD $500,000 promissory note on October 1, 2018 and were extended a first tranche of CDN $220,740.
Mary’s Wellness Ltd., entered into a CDN $1,000,000 promissory note on October 15, 2018 and were extended a first tranche of CDN $100,000.
Winterlife Inc., entered into a USD $1,000,000 promissory note on November 1, 2018 and were extended a first tranche of CDN $100,080.
“Redfund Capital is in the process of converting portfolio client loans into equity positions and building our global brand. As an incubator, it is our role to help our clients increase their current valuations and grow organically to the next cycle in their lifespan. In prior press releases we indicated the intent of some portfolio companies to go public. Such disclosure indicates only their stated intentions to us, and each is responsible for making their way onto the public exchanges. We believe Wahupta may be the next breakout leader in the hemp sector, and with their vertical operations and farm to field to consumer vision we are very proud to have them as a client in our portfolio and welcome Warren to our advisory team,” said Meris Kott, CEO.
About Wahupta Ventures Inc.
Wahupta Ventures Inc. is a privately held corporation owned and operated in Canada. Wahupta is headquartered in Canada and the US, with offices located in Winnipeg Manitoba, Burnaby British Columbia, Orange County California and Las Vegas Nevada. Wahupta is focused on the cultivation, production, processing, and extraction of hemp and cannabidiol (CBD), while simultaneously creating key collaboration with sovereign Indigenous communities throughout North America. It is Wahupta's core value to work with its partners to develop opportunities in communities that do not currently exist, and honor traditional values to addressing current conditions in their individual communities.
About Redfund Capital
Redfund intends to provide debt and equity funding in the mid-to-late stages of a target company’s development, or in technologies that are developed and validated by revenues. The present focus of the merchant bank is on medical cannabis, hemp and CBD-related, healthcare-related target companies.
For further information please visit www.redfundcapital.com For more information on Redfund Capital contact Meris Kott CEO 604.484.8989 0r info@redfundcapital.com Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
