Redfund Updates on Biominerales Pharma Colombia Operations

Redfund Capital Corporation (CSE:LOAN) (Redfund or the “Company”) is pleased to update operations of Biominerales Pharma Colombia (‘BMP Colombia”), a first mover and the trailblazer of medical cannabis in Colombia.

Biominerales Pharma Corp. has the trifecta of licenses in Colombia allowing them to grow, process and export CBD oil beyond South America to the global marketplace. Its extensive in-country farming operations plus a state-of-the-art GMP processing facility in Bogota (coming online in 2019) make BMP the perfect supplier, partner and distributor for Canadian LPS and global partnerships.

BMP’s headquarters and lab facility are located in Bogata and it has a wide range of operations countrywide. In Corinto, the base cannabis farm features both greenhouse and outside growing operations totalling almost 2 million sq. ft. of outdoor and 15,000 sq. ft. of greenhouse, producing high volumes of organic medicinal cannabis. In Tulua, BMP has another farm for growing industrial hemp for CBD. The first phase in Tulua is projected to yield 1.2-1.4 million pounds of biomass per year. In Mondomo, BMP is completing a lab where the chief agronomist will execute a process of DNA testing and growing in-vitro to create a super strain of seeds and plants with the highest quality plants free of disease. (https://biomineralespharma.com)

BMP are planning to open a series of mobile labs in addition to medical clinics to act as treatment and dispensary distribution centers. This will be executed as an extension of Biomerales Pharma Colombia’s medical partner Carlos Rios’ private Clinica Santuario, who is also a member of the BMP Advisory Board.

Redfund Capital announced that it completed its first international financing with Biominerales Pharma Corp. on August 30th 2018. Redfund and BMP signed a 2 year term convertible secured promissory note on August 23 for US$3,000,000 at an annual interest rate of 14%.

“Last week we were granted our Medicinal Cannabis licensure for the national Colombian market. This is a great accomplishment and it will allow us to expand via well known strategic partnerships in cannabis medicine benefiting the Colombian population,” stated BMP CEO Adriana Rios Garcia.

“Biomerales Pharma has become the #1 trailblazer in Colombia medical cannabis. With only a few weeks remaining before their expected approval to start government certification for 25 different cannabis medicinal genetics, they have possibly outperformed every cannabis company in Colombia with their low cost budget, experienced and well known Colombian management team and comprehensive medical platform. Redfund will continue to support BMP and looks forward to helping them become the #1 medical cannabis company in South America,” stated Meris Kott, CEO.

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 info@redfundcapital.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.

Click here to connect with Redfund Capital Corporation (CSE:LOAN) for an Investor Presentation. 

Source: globenewswire.com