Redfund private placements of C$1.7 million and C$1.4 million among key 2018 milestones

Redfund Capital Corp (CSE:LOAN) said in a securities filing that private placements of C$1.7 million and C$1.4 million were among key milestones in 2018.

The Vancouver-based cannabis company financier said Monday that closed in October a private placement for C$1,717,500 by issuing 5.7 million units. Each unit consists of one common share and one warrant entitling the holder to one additional common share for C$0.55.

Redfund added that in August it closed a private placement and issued 7.7 million units at C$0.1875 for total proceeds of C$1,458,730. Each unit consists of one common share and one warrant entitling the holder to one additional common share for C$0.34 for a period of two years. The company has the right to accelerate the expiration date if the shares trade at C$0.47 for a period of 14 consecutive days.

READ: Redfund Capital arranges strategic alliance for two portfolio clients

Last month, the company said it had arranged a strategic alliance between two of its portfolio clients – privately-owned Winterlife Inc and Mary’s Wellness Ltd – to spur the launch of cannabis products internationally.

Redfund provides debt and equity funding for cannabis companies.

Shares slipped C$0.01 to C$0.25 in Monday’s Canadian trading.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors