Redfund Capital (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) this morning announced its entry into an agreement for the right to acquire 51 percent of Wahupta Ventures Inc. of British Columbia, a Canadian hemp company, staking its position in the CBD sector. Per the update, Redfund has secured the right to purchase 19.9 percent of Wahupta, and will have the option on an additional 31.1 percent upon completion of the due diligence process and the signing of a definitive agreement no later than October 1, 2019. “Many Canadian merchant banks have followed our debt financing model and while it is exciting to be a first mover; today marks the next phase of our growth cycle in the Company,” Redfund CEO Meris Kott stated in the news release. “Our right to acquire Wahupta secures our entrance strategy into the CBD arena, which we believe is becoming the most relevant medical cannabis global footprint. As soon as a Canadian federally permissible pathway exists and once health Canada completes their legislations for Canadian production, distribution and sale of CBD products, we will acquire additional controlling positions in other CBD focused businesses with Wahupta as our lead footprint. This strategy we believe will bring greater upside to our shareholders.”
To view the full press release, visit http://cnw.fm/Hv97A
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.
NOTE TO INVESTORS: The latest news and updates relating to PNNRF are available in the company’s newsroom at http://cnw.fm/PNNRF
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