- Redfund converts loan into equity position in Mary’s Wellness Ltd.
- Company’s equity stake totals 5.55 percent of the cannabis-infused tea manufacturer
- First year global sales for Mary’s Wellness Ltd. forecast to hit $12 million
The recent announcement by Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) of an equity-for-debt swap is a good indication of the merchant bank’s innovative approach to providing capital. It also sets up a win-win scenario for both the client, which benefits from reduced leverage and interest payments, and Redfund, which gets a shot at any upside. Arrangements like these demonstrate Redfund’s willingness to work with client companies and its adaptability to changing market conditions. The Canadian merchant bank provides debt and equity solutions to companies in the mid to late stages of development. Currently, Redfund is focused on providing financing solutions to companies in the medical cannabis, hemp, cannabidiol (CBD) and health care-related sectors.
The equity-for-debt swap converts C$100,000, extended to Mary’s Wellness Ltd. (“MWL”) as the first tranche of a convertible secured promissory note, into equity…
NOTE TO INVESTORS: The latest news and updates relating to PNNRF are available in the company’s newsroom at http://nnw.fm/PNNRF
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