Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) today announced that it has signed a promissory note to fund Winterlife Inc. including the premier launch of its new CBD and hemp-based product line, WinterlifeCBD. The WinterlifeCBD product line is free of THC and is entirely organic, vegan and gluten free. The line is comprised of gourmet cookies, tinctures and capsules manufactured in Washington State. The companies inked a two-year term convertible secured promissory note for CAD $1,000,000 at an annual interest rate of 14%. Redfund holds the option to convert the note at any time during the term. Additionally, Redfund will receive stock warrants from Winterlife equal to twenty percent of the amount of the note based upon its current valuation as of the effective date which is agreed to be $5,000,000.
“Redfund is leading all merchant banks funding branded medical cannabis, CBD and hemp product lines that have the ability to go global today. Winterlife Inc.’s owners Charity and Evan Cox bring with them not only innovative products but an already successful history in the cannabis industry. They were the first ever to have a medical cannabis delivery system when few believed medicinal cannabis helped anyone. The company is excited to work with such visionaries and their assistance footprinting our other branded clients will be a tremendous asset to the entire Redfund portfolio and team. As we look to the first quarter of 2019, a number of companies in our current loan portfolio are already assessing opportunities to become independently traded public companies. Redfund is evaluating all equity upside opportunities within our loan portfolio through the warrants and loan convertibility positions to directly maximize shareholder value,” Redfund Capital CEO Meris Kott stated in the news release.
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About Redfund Capital Inc.
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 and healthcare-related companies. For further information, visit the company’s website at www.RedfundCapital.com.
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