Redfund and Cannamerx Form Strategic Alliance
First Active CannabisB2B International Auction Platform
Vancouver, British Columbia, March 20th2019– Redfund Capital Corp.(CSE:LOAN) (Frankfurt: O3X4)(OTC: PNNRF) (“Redfund” or the “Company”)is pleased to announce a strategic alliance between the Company and the Cannabis Mercantile Exchange (“Cannamerx”) one of the first cannabis and hemp auction platforms to go live. TheCompany’s intention is to help Cannamerx finance their business model and build their global footprint of clientele.
Cannabis Mercantile Exchange (“Cannamerx”), is the first fully automated B2B international auction platform for wholesale cannabis, cannabis products, as well as hemp and hemp products, and genetics, to recommend certain products and services provided by each company to their respective customer base. There are more than 57 Canadian licensed cannabis companies that have joined Cannamerx, and since June 2018 it has helped facilitate the trade of more than 25 tonnes of cannabis, over $22 M in bids receivedthrough its automated auction platform as well as supply agreement auction process. (Cannamerx)( https://www.cannamerx.com )
“Investing in a working cannabis auction platform in the sector is a game-changer. Cannamerx has the ability to connect European buyers with Canadian licensed sellers and South American licensed producers can with a click of a mouse list their products placing reserve prices to the rest of the world. There are many technology marketing plans to connect the world but Cannamerx have already established themselves as the go-to platform. Redfund recognizes that this is one of our most strategic growth alliances complimenting our philosophy of funding entities that have realized revenues and are looking to grow exponentially. Redfund will release terms of the deal in the next week,” said MerisKott, CEO,Redfund Capital Corp.
“We are very excited to be working with Redfund,” said Dietwald Claus, founder and CEO of Cannamerx, “Redfund’s resources and international network in the cannabis and hemp industry will accelerate our plans to position Cannamerx as the leading, international market place for cannabis and hemp. Redfund’s partnership with us is a further validation of our business model and strategy. We look forward to working with Redfund to develop our European market reach as a first step in this partnership.”
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.
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