Redfund Capital Corporation (CSE:LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (Redfund or the “Company”) is pleased to announce that it has signed a promissory note with Cannaki Beverage Inc. (“Cannaki”)
Cannaki Beverage Company Inc. manufactures natural and organic functional beverages. Based in Las Vegas, USA, the Nevada company’s core products are still and carbonated beverages and Cannaki specializes in Nano CBD infused flavored waters. Their CBD is farm-direct and ISO certified and contains Zero THC. Cannaki also manufactures and sells other organic, kosher and vegan products. Their mission is to make great tasting beverages without sacrificing quality. To blend botanical nutrition with “KI” natural goodness. To create a world of beverages with integrity and transparency — with no limits on taste, quality, geography or imagination. Cannaki’s core values guide them in their quest. ( http://cannaki.com )
Redfund and Cannaki signed a 2 year term convertible secured promissory note on March 27th 2019 for US$1,000,000 at an annual interest rate of 14%. 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 Cannaki upon the same business terms as are being offered to Cannaki by any other funders. Cannaki will afford Redfund stock warrants in its common stock equivalent to twenty percent (20%) of the amount of the Note based upon their current valuation as of the effective date which is stipulated to be US $20,000,000.
“Cannaki has a strong network in the USA, Mexico and Europe and they are planning to expand their products’ reach to Asia and South America. We hope to help Cannaki align with a licensed Canadian producer and place their products on shelves in Canada when CBD beverages are permitted in Canada. Welcoming a beverage company with a strong experienced team to the portfolio is very exciting for Redfund and our beverage division. We believe branded products in the cannabis sector with a global rollout strategy will continue to emerge and lead the industry.” stated Meris Kott, CEO of Redfund Capital.
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.