Redfund Capital Corp. (CSE:LOAN) (Frankfurt:O3X4) (OTC QB: PNNRF) (Redfund or the “Company”) is pleased to announce the submission by CannaForum BV “CANNA” our newest portfolio client, to the Dutch Government Closed Cannabis Supply Chain Experiment which will be the first 10 legal recreation cultivation licenses ever granted in The Netherlands.
Redfund has signed a letter of intent with CannaForum BV a company registered in The Netherlands, that has submitted an application for a cannabis cultivation license to the Dutch government in a new experiment program for the legal cultivation of cannabis in The Netherlands. Redfund has been retained by CANNA as an advisor on the tender offer to the Dutch government and will also have a right of first refusal to provide financing to CANNA should on any loans, financings, stock offerings, debt offerings or capital contributions by third parties be offered to CANNA. The detailed terms and conditions of the letter of intent, all dealings, discussions and negotiations between the parties, and all proprietary and confidential information of any kind disclosed between the parties, shall be kept strictly confidential unless disclosure is required by statute, law or by any applicable regulatory authority because this is a closed tender to the Dutch government and the closing will occur as soon as practicable following the successful granting of a cannabis license by the Dutch government to CANNA and the signing of a definitive agreement between Redfund Capital Corp and CannaForum BV.
If successful in receiving a license from the Dutch government when awarded later this year, CANNA plans to construct and operate a specialized cannabis facility in the Netherlands and develop, produce and market a variety of safe, high-quality cannabis products to supply the new market. Since 1976 in the Netherlands, a cannabis policy has been in effect regarding cannabis, under which the sale of cannabis at dispensaries coined “coffee shops” is tolerated but the cultivation of cannabis is illegal. In 2019, the Netherlands’ House of Representatives approved this new plan to address the lack of quality standards and societal impact of crime related to cannabis in the country. Additionally, in 10 selected cities approximately 80 new approved “coffee shops” will be required to purchase all of their cannabis exclusively from the approved, federally licensed producers. The supply requirement for the current scope of the experimental project is estimated to be approximately 65,000 kilograms of dried cannabis annually. The first 10 cultivation licensees will be evaluated during the third year of the program, with the potential to expand it from the initial 10 cities to a national program, encompassing all coffee shops in the Netherlands which today is about 600.
Redfund Capital Corp is a merchant bank focused on Global Wellness, Hemp and CBD with head offices in Canada and seeks to provide debt instruments and equity investing to companies that are developed and many already validated by revenues. Redfund helps portfolio clients accelerate their business plans and grow organically by providing them multi-level assistance. The Company established the first tier of its investment client portfolio during its first fiscal year and made loans to 5 companies and continues adding more companies to the portfolio at various stages of incubation and acceleration. Redfund vets all potential clients by reviewing their financials, compliance regulations in specific jurisdictions, collateral that will need to be presented in order to go forward in the process, and beefing up their management and each company’s business plans. Our investment policy remains rigorous and we watch the leaders come to Redfund because of the innovative financing and strategic relationships. Our portfolio has Swiss, Colombian, Canadian plus American clients in many different areas of the industry.
“CannaForum was founded in 2017 with the vision to be able to provide all consumers with the medical-quality cannabis in the recreational Dutch market. Since then CannaForum have worked closely with renowned experts in their field, building very strong partnerships, to prepare for the recent Closed Cannabis Supply Chain experiment. We are excited to have Redfund on board as a strategic partner, as their expertise in medical production facilities, efficiency in operations and international experience is the best match for us to excel in the challenging Dutch Market. We are looking forward to a successful partnership,” stated Cornelus Hupkes/Andries Kok, Leaders Team CannaForum BV.
“Redfund looks for leaders in each niche and change-makers and we like to think of ourselves as one of the most innovative groups. Joining forces with the team at CannaForum for their submission is not only exciting to me personally having lived in Holland and watching The Netherlands take their rightful position as a European leader in this sector but the right move for Redfund at this juncture. CannaForum is a true innovator with a superb set of advisors and executives who have been successful in many entrepreneurial adventures. Redfund is in this for the long run and to hopefully celebrate with CannaForum if they receive 1 of only 10 licenses to be granted. Redfund wishes everyone good luck with their submissions.” said, Meris Kott, CEO.
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.
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.
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.