VANCOUVER, British Columbia, June 24, 2019 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (Redfund or the “Company”) is pleased to announce that it has signed a strategic business cooperation agreement with Fantasy Network Ltd. (TASE: FNTS) of Tel Aviv, Israel to joint venture medical cannabis projects.
Redfund Capital and Fantasy Network have entered into a strategic cooperation agreement to form the foundation to joint venture business opportunities in the Israeli medical cannabis sector. This agreement enables Redfund to have a partner in Israel to evaluate potential acquisition and financing of Medical Cannabis, CBD, and Hemp companies in the region. The signed agreement provides a framework for Redfund to be able to access projects currently controlled by Fantasy or under negotiation primarily in Israel. Redfund will also assist Fantasy to license patented Israeli medical technology and cannabis delivery systems outside of Israel, as well as provide capital alongside Fantasy to medical cannabis companies. The term of this agreement is for 3 years.
On June 5, 2019, Fantasy Network announced the appointment of Redfund Capital CEO Meris Kott as an investment advisor to their company. Ms. Kott recently met with management in Tel Aviv and reviewed Fantasy’s current medical Cannabis portfolio with the aim to begin immediately.
Globally known as the best in class, Israel has a plethora of cannabis researchers, farmers, and entrepreneurs all focused on medical cannabis. The Israeli government has given support to the industry since 1973 and with recent approval from the Israeli parliament to export Israeli products, the global market is now open for Israeli companies to expand worldwide.
“Israel is home to novel cannabis drug delivery devices, patented grow and planting technologies, holistic cannaceuticals and pharma-grade medical cannabis. The people and companies I was introduced to during my trip to Tel Aviv, assures me that Redfund’s partnership with Fantasy will be a lucrative relationship for both our stakeholders. Redfund is already in discussions to bring Israel medical cannabis based companies global with Israeli licensing agreements with Canadian Licenced Producers and distribution contracts in other countries where medical cannabis is legalized,” stated Meris Kott, CEO.
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.
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