Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4) has entered into a significant financial agreement with Cannaki Beverage Inc., a Las Vegas-based manufacturer specializing in natural and organic functional beverages, including Nano CBD infused flavored waters. The two-year term convertible secured promissory note, signed on March 27th, 2019, amounts to $1,000,000 with an annual interest rate of 14 percent. This partnership not only provides Cannaki with essential funding but also grants Redfund Capital the option to convert the note into equity and a right of first refusal for future financing under similar terms.
Cannaki Beverage Inc. is set to issue stock warrants to Redfund Capital, equivalent to 20 percent of the note's value based on a $20,000,000 company valuation. This move is indicative of the confidence both entities have in the burgeoning CBD beverage market. Meris Kott, CEO of Redfund Capital, highlighted Cannaki's strong presence in the USA, Mexico, and Europe, with plans to extend their reach to Asia and South America. Kott also expressed enthusiasm about assisting Cannaki in navigating the Canadian market once CBD beverages gain regulatory approval, emphasizing the importance of branded products with a global strategy in the cannabis sector.
This collaboration between Redfund Capital and Cannaki Beverage Inc. is a testament to the dynamic growth of the cannabis and psychedelic industries, particularly in the realm of CBD-infused products. The deal not only facilitates Cannaki's expansion but also positions Redfund Capital as a key player in supporting innovative companies within the cannabis and healthcare sectors. For more details on this partnership, visit http://nnw.fm/3kqUX.
