Redfund Capital (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) this morning announced its intention to convert, into an equity position, the first tranche of a convertible secured promissory note with Mary’s Wellness Ltd. (“MWL”). According to the update, Redfund was extended the first tranche of C$100,000 from a C$1,000,000 promissory note it entered into with MWL on October 15, 2018. Redfund will own 5.55 percent of MWL upon conversion of the first tranche, and the promissory note’s remaining C$900,000 convertible balance, secured by a general security agreement on assets of MWL, will remain in place to secure additional tranches. “Redfund believes Mary’s Wellness is primed to be one of the first infused tea companies to reach the global marketplace,” Redfund CEO Meris Kott stated in the news release. “Virginia Vidal is a charismatic brand ambassador and a wonderful advocate for the medical cannabis industry in Canada. She is actively working to align MWL with a strong Canadian licensed producer with an extensive distribution network to facilitate a successful entrance into the Canadian licensed market.”
To view the full press release, visit http://cnw.fm/tlCE5
About Redfund Capital Corp.
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 and healthcare-related companies. For further information, visit the company’s website at www.RedfundCapital.com
About CanadianCannabisWire
CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.canadiancannabiswire.com
Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have a questions or are you interested in working with CNW? Ask our Editor
CanadianCannabisWire (CNW)
Toronto, Ontario
www.canadiancannabiswire.com
905.674.5977 Office
[email protected]
