VANCOUVER, British Columbia, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (“Redfund” or the “Company”) is pleased to update operations of Mary’s Wellness Ltd. (“Mary’s”), best in class cannabis infused tea beverage company.
As more countries enter the medical cannabis legalization phase, endorsements that cannabis is a source of treatment and relief from conditions like anxiety, insomnia, and pain will continue and enable branded products like Mary’s Wellness to succeed in global markets.
Redfund is in active discussions with partners in the UK, Switzerland, Colombia and Portugal to help launch Mary’s products. The Company will work closely with Mary’s team to make sure all work is ethically sourced by using third party metrics from groups like the UN Human Development Index and the International Labor Association to evaluate the ethics and quality of the companies that it sources for its tea and coffee products.
Mary’s is working with their legal team in preparation of filing documentation to the Canadian Federal government when regulations on new licensed classes of cannabis for edibles is made available to qualified applicants. Mary’s is also in discussion with various Canadian LPs (licensed cannabis producers) to produce their infused tea products once licensing approval is granted. Canada’s October 2018 legalization of cannabis opted to limit purchases to dried or fresh cannabis and cannabis oil from government approved licensed retailers. Canadians can also make cannabis products, in food and drinks, for personal use.
“We are excited for the opportunity to share our original Canadian infused tea blends and our family brand with the world’s most renowned tea enthusiasts from Europe to South America,” said Virginia Vidal, Founder and CEO, Mary’s Wellness Ltd.
“Tea has always been the feel good go-to-brew for a healthy lifestyle. Creating a worldwide brand like Starbucks is exactly what we are planning with Mary’s. Our goal for the first quarter of 2019 is to finance and list Mary’s Wellness Ltd. on a public exchange. Promoting cannabis infused medicinal teas will be a very rewarding team effort and we are looking forward to it,” said Meris Kott, CEO.
Redfund Capital announced that it completed its first financing with Mary’s Wellness Limited on October 22nd 2018. Redfund and Mary’s signed a 2 year term convertible secured promissory note on October 17th 2018 for CDN $1,000,000 at an annual interest rate of 12.5%.
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 email@example.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.