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.”
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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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