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VANCOUVER, British Columbia, Nov. 16, 2018 (GLOBE NEWSWIRE) — Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (“Redfund” or the “Company”) comments on Israel allowing the medical export of its products to global markets.
Since the 1990’s medical cannabis in Israel has been prescribed to patents with pain-related illnesses such as Parkinson’s, multiple sclerosis and other chronic pain and post-traumatic stress disorders. In April 2018 it was discussed that Israel would approve its first medical cannabis export of products such as capsules and oils but not raw marijuana. Many Israeli farmers applied for medical cannabis farming and marketing licenses expecting the reform to go through, but the gridlock has been exhausting for them. Israelis began to farm and develop cannabis companies outside the country.
The Israeli approval has been held up despite near unanimous support for the idea in the government. Today, it was announced that the medical cannabis bill will finally go on the Knesset agenda for first reading and the Minister of Public Security, Gilad Erdan and Internal Affairs and Environment Committee chairperson, Yoav Kisch (Likud) agreed to promote the bill.
Redfund has been compiling its final due diligence protocols around several already identified Israeli clients to become portfolio companies with a growth strategy into North America and Europe. One is a technology company which changes how medical cannabis is grown for medical cannabis patients, the next a medical products and CDB company, and the third an agricultural grow who has operations abroad and its research and development facilities in Israel.
Meris Kott, CEO of Redfund commented, “We are looking to Israel as our next country to forge strong relationships with for our banking initiatives. Israel has always led with a strong generic drug footprint. I am looking forward to working closely with partners in Israel in the very near future and capitalizing on current opportunities.”
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 [email protected]
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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