VANCOUVER, British Columbia, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (Redfund or the “Company”) is pleased to announce its financing of RxMM Health Capital Inc.’s subsidiary RxMM Healthcare Inc. (“RxMM”).
RxMM Health Capital Inc., (“RxMM”) is a medical cannabis company incorporated in Vancouver, British Columbia. RxMM comprises of a group of six subsidiary companies that are involved in the cultivation, extraction and manufacturing of pharmaceutical grade cannabis for OTC medical and wellness products. The Company is planning to have over 4 million sq. of pharma-grade cannabis under cultivation by mid-2022.
RxMM’s subsidiary RxMM Healthcare Inc. is in the process of launching Alzheimers Defense (“AD”) which is a proprietary, CBD infused “all natural” nutraceutical product. AD’s claims are underpinned by two scientific research studies, funded by the National Institutes of Health and conducted at the University of California, Irvine, Institute for Memory Impairments and Neurological Disorders (UCI MIND) and the University of Kentucky. Both these studies support the AD’s efficacy claims. Currently, there is no other preventative Dementia/ Alzheimer product on the market with evidence to support product efficacy claims. ( www.rxmmhealthcare.com ; http://www.rxmmhealthcapital.com )
RxMM Healthcare products to be marketed consist of Alzheimer’s Defense daily tablets, Alzheimer’s Defense PLUS+ CBD daily gel caps, FDA approved NeuroNasal Strips and CBD PLUS+ anti-oxidant topical patches to support overall antioxidant and anti-inflammatory wellness for up to 72-hours.
Redfund and RxMM signed a 2 year term convertible secured promissory note on October 5th 2018 for $500,000 at an annual interest rate of 14%, of which the first tranche is $200,000 and will be invested in RxMM’s subsidiary RxMM Healthcare. The Note may be converted at Redfund’s discretion at any time during the term and the Company has a right of first refusal to provide financing to RxMM upon the same business terms as are being offered to RxMM by any other funders. RxMM afforded Redfund stock warrants of its common stock equivalent to twenty percent (20%) of the amount of the Note based upon their current valuation. Security for the loan will be as per the terms of the convertible secured promissory note on RxMM’s FDA approved, globally patented NeuroNasal medical delivery device, which forms an integral part of the Alzheimers Defense product system.
“For anyone who has watched a relative’s or friends’ memory disappear before them it is heartbreaking. If Alzheimer Defense helps prevent or slow down the process of memory loss it is a miracle. Redfund is excited to finance the building this revolutionary brand by RxMM and looks forward to supporting RxMM’s other subsidiaries in the near future with additional funding,” stated Meris Kott, CEO.
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 Or firstname.lastname@example.org
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.