Redfund Capital Corp Finances RxMM Health Capital Inc.
(firmenpresse) - Redfund Capital Corp Finances RxMM Health Capital Inc.
Redfund Supports Alzheimer Defense
Revyve Healthcare Subsidiary Direct Investment
Vancouver, British Columbia, October 9th 2018 - Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (Redfund or the Company) is pleased to announce its financing of RxMM Health Capital Inc. subsidiary Revyve Healthcare Inc.
The Company
RxMM Health Capital Inc., is a medical cannabis company incorporated in Vancouver, British Columbia. RxMM comprises of a group of six subsidiary companies that are involved in the cultivation, extraction and manufacturing of pharmaceutical grade cannabis for OTC medical and wellness products. The Company is planning to have over 4 million sq. of pharma-grade cannabis under cultivation by mid-2022.
RxMMs subsidiary Revyve Healthcare Inc. is in the process of launching Alzheimers Defense (AD) which is a proprietary, CBD infused all natural nutraceutical product. ADs claims are underpinned by two scientific research studies, funded by the National Institutes of Health and conducted at the University of California, Irvine, Institute for Memory Impairments and Neurological Disorders (UCI MIND) and the University of Kentucky. Both these studies support the ADs efficacy claims. Currently, there is no other preventative Dementia/ Alzheimer product on the market with evidence to support product efficacy claims.
Revyve Healthcare products to be marketed consist of Alzheimers Defense daily tablets, Alzheimers Defense PLUS+ daily gel caps, Neuro-Patches anti-oxidant and anti-inflammatory transdermal patches to support overall antioxidant and anti-inflammatory wellness support for up to 72-hours.
The Investment
Redfund and RxMM signed a 2 year term convertible secured promissory note on October 5th 2018 of $500,000 at an annual interest rate of 14%, of which the first tranche is $200,000 and will be invested in RxMMs subsidiary Revyve. The Note may be converted at Redfunds discretion at any time during the term and the Company has a right of first refusal to provide financing to RxMM upon the same business terms as are being offered to RxMM by any other funders. RxMM afforded Redfund stock warrants of its common stock equivalent to twenty percent (20%) of the amount of the Note based upon their current valuation. Security for the loan will be as per the terms of the convertible secured promissory note on RxMMs FDA approved, globally patented NeuroNasal medical delivery device, which forms an integral part of the Alzheimers Defense product system.
For anyone who has watched a relatives or friends memory disappear before them it is heartbreaking. If Alzheimer Defense helps prevent or slow down the process of memory loss it is a miracle. Redfund is excited to finance building this revolutionary brand by RxMM and looks forward to supporting their other subsidiaries in the near future with additional funding , stated Meris Kott, CEO.
About Redfund Capital
Redfund intends to provide debt and equity funding in the mid-to-late stages of a target companys 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(at)redfundcapital.com
Further information about the Company is available on www.SEDAR.com under the Companys 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 Companys 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.
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