VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Redfund Capital Corp. (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (“Redfund” or the “Company”) announces the launch of the Cannabis Mercantile Exchange ("Cannamerx") International Hemp/CBD Auction Platform.
Yesterday, Cannamerx launched the first international global Hemp/CBD auction platform. Building on the success of their existing cannabis trading platform, today they reported 1.5 tonnes of hemp biomass have been listed for auction on their site. Cannamerx is currently and rapidly onboarding hemp clients in Canada, the United States and Europe and is in the process of vetting CBD labs in the United States for trade within the USA. The management team will be attending the International Cannabis Business Conference (ICBC) Berlin March 31-April 2 and will be presenting their platform to the European industry. (www.cannamerx.com)
“The Global Hemp industry saw $3.7 billion in sales in 2018. That represents a 350 percent increase from 2017’s total of $820 million. China was the largest seller of hemp in 2018, accounting for about one-third of all global sales ($1.2 billion). The U.S. was second with $1 billion in sales, followed by Europe at $980 million and South & Central America at $220 million. New Frontier Data attributes the growth primarily to Chinese textiles, European industrials, Canadian foods, and the U.S. hemp-derived CBD market. According to the report, the global hemp market will reach $5.7 billion by 2020.” (www.benzinga.com)
“The hemp revolution has begun in North America. We are excited to help Cannamerx create a global path for many of these companies to trade Hemp/CBD internationally and become cash flow positive at a much quicker pace, decreasing their sales and marketing expenses and removing the “middleman” thereby increasing net revenues. By next fall, we are hopeful CBD edibles will be federally approved and licensed in Canada with Cannamerx’s platform providing the raw materials to licensed LPs, who need hemp,” stated Meris Kott, CEO, Redfund Capital Corp.
“We look forward to working with Redfund to roll out our platform and services for markets outside North America. We are excited that the market is validating our model so quickly. We feel we are truly redefining the way these products transact at the commodity level, and our move into international markets comes at the perfect time," said Dietwald Claus, founder and CEO of Cannamerx.
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 or 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.