VANCOUVER, British Columbia, Oct. 02, 2018 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (Redfund or the “Company”) is pleased to announce Biominerales Pharma Colombia (“BMP”) have received their first wholesale contract and purchase order.
Today's announcement follows Redfund Capital’s mandate to finance companies in revenues or near sales in their pipelines. Biominerales Pharma’s anticipated annual revenue generated from these contracts is up to CDN $6,200,000. As part of the contracts, BMP has signed commitments in their purchase orders for deliverables in pounds of biomass for the current harvest year of 2018 as is the standard of the cannabis industry.
“I am very proud of BMP working with their team for reaching this new milestone of a first wholesale order. There’s no better way to symbolize committed efforts than cementing it with purchase orders. We congratulate Adriana and look forward to helping her build her brand globally,” stated Meris Kott, CEO.
Redfund Capital also announces that it completed the second tranche of their US$3,000,000 promissory note to BMP announced on August 30th and signed on August 23, 2018.
About Biominerales Pharma
Biominerales Pharma SAS is positioning itself to be a meaningful player in providing Hemp Biomass, CBD Oil with and without THC and Full Spectrum CBD Oil. We have multiple grow operations located in close proximity to Cali, Colombia, which feature in-door and outdoor operations. Our production capacity will also be augmented by farm operations in the USA, currently in Colorado and other US States that are under development.
For further information please visit www.biomineralespharma.com
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.
For further information please visit www.redfundcapital.com
For more information on Redfund Capital contact Meris Kott CEO 604.484.8989 0r info@redfundcapital.com
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.