Vancouver, British Columbia, November 17, 2020 – Redfund Capital Corp. (CSE: LOAN) (Frankfurt:O3X4) (OTC QB: PNNRF) (Redfund or the “Company”) is excited to announce CannaForum BV “CANNA” our newest portfolio client updates it has made it to the last 20 applicants in the selection process by the Dutch government for the first legal cannabis cultivator licenses ever in the Netherlands. Additionally, Redfund has entered into a consulting agreement with BK Capital Partners Inc. to provide capital market advisory services to the Company.
149 Dutch companies submitted their applications in the tender process for a cannabis cultivation license which is a new experiment program for the legal cultivation of cannabis in the Netherlands. The Dutch experiment will run for four years, starting 2021 first quarter and ten municipalities will participate in the project. During the experiment, up to 10 growers in each of the participating municipalities will be approved by the government as legal producers. CannaFourm has successfully advanced to the last 20 hopefuls as the selection process continues. Redfund was been retained as an advisor on the tender offer to the Dutch government and has been working with the CANNA team now for 4 months in partnership with the Wageningen University. The CannaForum concept of vertical and urban farming growth cubes is easily scalable and adapts well to the local environment and sets them apart from other contenders. This growth method has a proven track record and CannaForum has already begun pre-securing purchase orders with its vendors in hope of receiving a license.
Redfund entered into a consulting agreement with BK Capital Partners Inc. on November 11, 2020 for introductions to strategic partners as well as for business consulting and capital market advisory services. BK Capital Partners has an aggressive but principle-based approach and has raised over 500 million in debt and equity for a variety of public and private companies, in mining, film, technology, medicine, and agriculture. The agreement signed is for a period of 18 months at $16,000 per month to be paid in three installments in cash or restricted common shares. Either party can terminate the contract with a 30 days notice. The Company has issued 2m restricted common shares at a price of .05 with a 4-month hold period to BK Capital Partners.
“We’re very happy with our cooperation with Redfund since the experience, knowledge and extensive network in the cannabis industry they bring proves invaluable to us. As we are getting closer to the moment we can actually put spades in the ground we feel we’re ever more prepared as a result of this relationship,’’ – Andries Kok, Founder CannaForum.
“ It takes patience and perseverance to weather a pandemic which are the very same virtues needed to build a company. I am thankful to the Redfund board who come together on chat often to discuss our global wellness initiatives. I have been in discussions with the leaders of BK Capital for months and their commitment to help us on the CannForum project. Equally as impressive are the CannaForum founders Cees and Andries who keep us in touch on zoom calls a few times a week. We are hopeful the Dutch government will see the brilliance of this team and award them a license. We look forward with fingers crossed to celebrating with them in Holland in the New Year,” – Meris Kott, CEO Redfund.
About Redfund Capital Corp.
Redfund partners with first mover, high growth companies, and provides them with access to capital, resources, and infrastructure. The present focus of the merchant bank is on global wellness, hemp and CBD-related, healthcare-related target companies.
For further information please visit www.redfundcapital.com
For more information on Redfund Capital Corp. contact
Meris Kott CEO
604.484.0355 or firstname.lastname@example.org
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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