Redfund Capital taps industry veteran Warren D Cudney as new strategic advisor
Friday, 15 February 2019 Cannabis financier Redfund Capital Corp (CSE:LOAN) (OTC:PNNRF) is tapping Wahupta Ventures Inc CEO Warren D Cudney as a new member of its advisory team. Redfund also provided a first-quarter client financing rundown. It said it has extended funds to three cannabis companies. READ: Redfund Capital sets off on new US-focused investment plan with hiring of strategic advisors RxMM Health, which engages in hydroponic cultivation of medical cannabis in Australia, New Zealand, and the US, entered into a US$500,000 promissory note on October 1, 2018 and received its first tranche of C$220,740. Similarly, Mary’s Wellness Ltd entered into a C$1,000,000 promissory note on October 15, 2018 and received the first tranche of C$100,000. The third company, Seattle-based Winterlife Inc which makes gourmet cookies, tinctures, and capsules, entered into a US$1,000,000 promissory note on November 1, 2018 and received the first tranche of C$100,080. “Redfund Capital is in the process of converting portfolio client loans into equity positions and building our global brand,” said Redfund CEO Meris Kott in a statement. “As an incubator, it is our role to help our clients increase their current valuations and grow organically to the next cycle in their lifespan.” The Redfund CEO touted the “breakout” potential of Wahupta Ventures, which is focused on the cultivation, production, processing, and extraction of hemp and cannabidiol (CBD). Wahupta is headquartered in Canada and the US, with offices in Winnipeg, Burnaby in British Columbia, Orange County in California and Las Vegas. “We believe Wahupta may be the next breakout leader in the hemp sector, and with their vertical operations and farm to field to consumer vision we are very proud to have them as a client in our portfolio and welcome Warren to our advisory team,” said Kott. Based in Vancouver, Redfund provides debt and equity funding in the mid-to-late stages of a target cannabis company’s development. Its focus is on companies specializing in medical cannabis as well as healthcare and hemp and CBD-related products. Contact Uttara Choudhury at firstname.lastname@example.org Follow her on Twitter: @UttaraProactive
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