Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) this morning announced that it has agreed to fund Cannaki Beverage Inc., a nano CBD flavored water company based in Las Vegas, Nevada, that manufactures still and carbonated natural and organic functional beverages. According to the update, Redfund has signed a convertible note term sheet for $1 million at a rate of 14 percent interest with a two-year term, and the companies intend to finalize a promissory note and security document in the next week. “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,” Redfund CEO Meris Kott stated in the news release. “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. ”
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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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