Redfund Capital (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) this
morning announced its entry into a strategic alliance with the Cannabis
Mercantile Exchange (“Cannamerx”),
one of the first cannabis and hemp auction platforms to go live. Per the
update, Cannamerx is the first fully automated B2B international auction
platform for wholesale cannabis, cannabis products, hemp and hemp products and
genetics, to recommend certain company’s products and services to their
respective customer base. More than 57 Canadian licensed cannabis companies
have joined Cannamerx, which has helped facilitate the trade of more than 25
tonnes of cannabis, over $22 million in bids received through its automated
auction platform and supply agreement auction process since June 2018.
“Investing in a working cannabis auction platform in the sector is a
game-changer,” Redfund CEO Meris Kott said in the news release. “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 complementing 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.”
To view the full press release, visit http://ibn.fm/GLAZg
About Redfund Capital Corp.
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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