Redfund Capital Corporation (CSE:LOAN) (“Redfund” or the “Company”) is pleased to update operations of Biolog Inc. a Silicon Valley and Los Angeles California based cannabis infusion technology company.
Biolog is progressing rapidly in their research, IP development, and product expansion on their planned menu of product lines:
Cannastix: Biolog’s innovative cannabis infused culinary seasoning stick is inserted into a food product, such as fish, poultry, beef, pork, or fish. This product infuses the food portion evenly throughout with CBD and seasonings as the portion is heated or cooked. Biolog has secured the manufacturing plant owned and operated by the seasoning stick inventor Nevin Jenkins, for the production of their CBD products. The plant is a state-of-the-art Florida Agricultural licensed and registered FDA facility that produces 5,000 “seasoning-stix” per day and is capable of producing 100,000 per day for Biolog’s planned Cannastix CBD infused seasoning sticks.
CannaTab: Biolog has progressed with their planned patent application as well as product testing and newer versions of the same with flavourings such as lime, lemon, orange and vanilla, which will enhance the applications to consumers. CannaTab is a tasteless, odorless, and clear and it will infuse any beverage, hot or cold, while NOT altering taste or appearance. In a glass of clear water it dissolves and the water remains clear.
CannaPro Protein Powder: Biolog have continued development and made some improvement to the formulation as well as to the dissolvable film. These individual packets can be inserted into childproof packaging in different quantities for sales distribution to consumers and medical dispensaries.
Biolog’s CEO Bruce Bauer stated: “Our license from Lexaria is what separates Biolog products from all others. By incorporating the DehydraTECH™ drug delivery platform into our products, the bitterness and the earthy taste of cannabis oil are masked, and this technology ensures quick and effective transportation into the bloodstream without degradation in the stomach or liver. This equates to decreased onset times, a 300% increase in bioavailability and more accurate dosing. The cannabidiol (CBD) market is projected to reach $2.1 billion by 2020. In my opinion our work with Lexaria Biosciences will prove to be a highly and mutually beneficial business relationship.”
“New delivery systems with patented technology have become extremely relevant in the cannabis medical arena. These cutting edge discoveries will continue to make CBD and medical cannabis mainstream drugs in the very near futures. Biolog is a company on the cusp of greatness and Redfund is pleased they are an early stage portfolio company,” stated Meris Kott, CEO.
Redfund Capital announced that it completed its first financing with Biolog Inc. on August 28th 2018. Redfund and Biolog signed a 2 year term convertible secured promissory note on August 21st for US$800,000 at an annual interest rate of 14%.
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
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.