Redfund Agrees to Funding Cannaki Beverage
Nano CBD Flavored Water Company
US Based Portfolio Clients Growing
VANCOUVER, British Columbia, Feb. 27, 2019 (GLOBE NEWSWIRE) — Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (“Redfund” or the “Company”) has signed a term sheet and has agreed to fund CANNAKI BEVERAGE INC. a nano CBD flavored water company.
CANAKI BEVERAGE COMPANY, INC., http://cannaki.com more commonly known as CANNAKI®, manufactures natural and organic functional beverages. Based in Las Vegas, USA, the Nevada company’s core products are still and carbonated beverages and specialize in Nano CBD infused flavored water. Their CBD is farm-direct and ISO certified to contain Zero THC. CANNAKI also manufactures and sells other organic, kosher and vegan products and soon launching a new line of Hemp and Guayusa beverages in April 2018. 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.
“Global bottled water market was valued at $198.4 million in 2017, and is expected to reach $307.3 million by 2024, expanding at a CAGR of 6.4% during the forecast period 2024 End. Bottled water is packaged drinking water that is purified and free from contamination. It is available in plastic and glass water bottles, and is the most convenient way for the body to fulfill its hydration needs being easily available in nearby retail stores and supermarkets. (https://www.researchreportinsights.com/report/rd/110114577/Bottled-Water-Market)
Redfund Capital has signed a convertible note term sheet with Cannaki Beverage Company for USD $1,000,000 at a rate of 14% interest with a term of 2 years. Redfund and Cannaki will be finalizing a promissory note and security document in the next week and will disclose details of the completed transaction at that time.
“Partnering with a water company with a strong footprint is a tremendous opportunity for Redfund. Cannaki has one of the largest varieties of water based SKUS in the marketplace and is continuing to increase their varieties. Cannaki has still, sparkling, flavored, plus Pet water, and a global presence as well. Redfund has filed an OTCQB listing application in order to continue to build our US presence. ” 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.
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.