Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (Frankfurt: O3X4) Uplists to OTCQB, Expects Increased Global Exposure
- The company’s common shares will trade on the OTCQB Venture Market under ticker symbol ‘PNNRF’
- Uplisting is expected to raise Redfund Capital’s visibility with the U.S. investment community and increase overall global exposure
- Common stock liquidity is also likely to increase as a result of OTCQB trading
Global merchant bank Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (Frankfurt: O3X4) recently announced that it has uplisted to the OTCQB Venture Market as of April 30, 2019. According to a company press release, Redfund Capital’s common shares have been approved for OTCQB uplisting and will continue to trade under ticker symbol ‘PNNRF’ (http://nnw.fm/QJx1K).
With a primary focus on financing medical cannabis, hemp and CBD companies, Vancouver-based Redfund Capital will continue trading on the Canadian Securities Exchange under ticker symbol ‘LOAN’, as well as on the Frankfurt Stock Exchange under symbol ‘O3X4’.
The uplisting is a significant milestone for Redfund Capital, which has undergone a rigorous process to become eligible for trading on the OTC Markets Group-operated venture market, according to CEO Meris Kott. To become eligible, a company needs to undergo annual verification and management certification, file up-to-date and complete financial reports and pass a minimum bid price test. In return, OTCQB trading stands as a guarantee for transparency, regulation and technology standards that improve the trading experience for investors.
Redfund Capital management welcomed the uplisting as an opportunity for increased exposure to investors. “Even though Redfund has been a fully reporting company since its inception and listing to the Canadian Securities Exchange, or CSE, we believe that the broader exposure afforded by the OTCQB will raise our visibility within the U.S. investment community and assist in increasing the liquidity of our common stock,” Kott explained in a news release.
In addition, trading on this established public market will help generate even more exposure for the company with institutional investors in Canada, the U.S. and Europe, the Redfund Capital CEO believes.
Redfund’s core business strategy is to provide equity and debt funding to companies in mid-to-late stages of development, with revenues of more than $2 million or a minimum of $1 million in the pipeline. The company considers itself the first cannabis merchant bank debt facility, as its present focus is to provide loans to companies in the medical cannabis, hemp and CBD and health care fields.
To further strengthen its business model, Redfund Capital recently announced a strategic partnership with the Cannabis Mercantile Exchange (“Cannamerx”) on the latter’s first international global hemp and CBD auction platform (http://nnw.fm/kL3hI). Under the partnership agreement, announced on March 20, Redfund will provide the fully automated B2B auction platform with funding to establish its business model and build a global clientele for cannabis products in Canada, the U.S. and Europe. The first transaction on the platform was expected to consist of 1.5 metric tons of hemp biomass, the companies announced.
In addition to providing funding for the auction platform, Redfund Capital offered financing to three cannabis companies during the first quarter of 2019 (RxMM Health, Mary’s Wellness Ltd. and Winterlife Inc.), established an investment in Wahupta Ventures Inc. (http://nnw.fm/hXL4P) and provided funding for the Cannaki Beverage Company (http://nnw.fm/ay9Tx).
Redfund Capital’s goal is to have a portfolio of 20 companies with $75 million injected via loans to organizations looking to go global and become leaders in their markets, according to Kott. By establishing a strong, diverse portfolio, the company aims to generate significant monthly interest income that provides added value for shareholders.
For more information, visit the company’s website at www.RedfundCapital.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- The company’s common shares will trade on the OTCQB Venture Market under ticker symbol ‘PNNRF’
- Uplisting is expected to raise Redfund Capital’s visibility with the U.S. investment community and increase overall global exposure
- Common stock liquidity is also likely to increase as a result of OTCQB trading
Global merchant bank Redfund Capital Corp. (CSE: LOAN) (OTCQB: PNNRF) (Frankfurt: O3X4) recently announced that it has uplisted to the OTCQB Venture Market as of April 30, 2019. According to a company press release, Redfund Capital’s common shares have been approved for OTCQB uplisting and will continue to trade under ticker symbol ‘PNNRF’ (http://nnw.fm/QJx1K).
With a primary focus on financing medical cannabis, hemp and CBD companies, Vancouver-based Redfund Capital will continue trading on the Canadian Securities Exchange under ticker symbol ‘LOAN’, as well as on the Frankfurt Stock Exchange under symbol ‘O3X4’.
The uplisting is a significant milestone for Redfund Capital, which has undergone a rigorous process to become eligible for trading on the OTC Markets Group-operated venture market, according to CEO Meris Kott. To become eligible, a company needs to undergo annual verification and management certification, file up-to-date and complete financial reports and pass a minimum bid price test. In return, OTCQB trading stands as a guarantee for transparency, regulation and technology standards that improve the trading experience for investors.
Redfund Capital management welcomed the uplisting as an opportunity for increased exposure to investors. “Even though Redfund has been a fully reporting company since its inception and listing to the Canadian Securities Exchange, or CSE, we believe that the broader exposure afforded by the OTCQB will raise our visibility within the U.S. investment community and assist in increasing the liquidity of our common stock,” Kott explained in a news release.
In addition, trading on this established public market will help generate even more exposure for the company with institutional investors in Canada, the U.S. and Europe, the Redfund Capital CEO believes.
Redfund’s core business strategy is to provide equity and debt funding to companies in mid-to-late stages of development, with revenues of more than $2 million or a minimum of $1 million in the pipeline. The company considers itself the first cannabis merchant bank debt facility, as its present focus is to provide loans to companies in the medical cannabis, hemp and CBD and health care fields.
To further strengthen its business model, Redfund Capital recently announced a strategic partnership with the Cannabis Mercantile Exchange (“Cannamerx”) on the latter’s first international global hemp and CBD auction platform (http://nnw.fm/kL3hI). Under the partnership agreement, announced on March 20, Redfund will provide the fully automated B2B auction platform with funding to establish its business model and build a global clientele for cannabis products in Canada, the U.S. and Europe. The first transaction on the platform was expected to consist of 1.5 metric tons of hemp biomass, the companies announced.
In addition to providing funding for the auction platform, Redfund Capital offered financing to three cannabis companies during the first quarter of 2019 (RxMM Health, Mary’s Wellness Ltd. and Winterlife Inc.), established an investment in Wahupta Ventures Inc. (http://nnw.fm/hXL4P) and provided funding for the Cannaki Beverage Company (http://nnw.fm/ay9Tx).
Redfund Capital’s goal is to have a portfolio of 20 companies with $75 million injected via loans to organizations looking to go global and become leaders in their markets, according to Kott. By establishing a strong, diverse portfolio, the company aims to generate significant monthly interest income that provides added value for shareholders.
For more information, visit the company’s website at www.RedfundCapital.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
