But what sounds quite promising is todays pre-market update on the operating activities in Colombia:
THE TRAILBLAZER OF MEDICAL CANNABIS IN COLOMBIA
LICENCED GLOBAL EXPORTER OF CBD OIL
VANCOUVER, British Columbia, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Redfund Capital Corp (CSE: LOAN) (Frankfurt: O3X4) (OTC: PNNRF) (Redfund or the “Company”) is pleased to update operations of Biominerales Pharma Colombia (‘BMP Colombia”), a first mover and the trailblazer of medical cannabis in Colombia.
Biominerales Pharma Corp. has the trifecta of licenses in Colombia allowing them to grow, process and export CBD oil beyond South America to the global marketplace. Its extensive in-country farming operations plus a state-of-the-art GMP processing facility in Bogota (coming online in 2019) make BMP the perfect supplier, partner and distributor for Canadian LPS and global partnerships.
BMP’s headquarters and lab facility are located in Bogata and it has a wide range of operations countrywide. In Corinto, the base cannabis farm features both greenhouse and outside growing operations totalling almost 2 million sq. ft. of outdoor and 15,000 sq. ft. of greenhouse, producing high volumes of organic medicinal cannabis. In Tulua, BMP has another farm for growing industrial hemp for CBD. The first phase in Tulua is projected to yield 1.2-1.4 million pounds of biomass per year. In Mondomo, BMP is completing a lab where the chief agronomist will execute a process of DNA testing and growing in-vitro to create a super strain of seeds and plants with the highest quality plants free of disease. (https://biomineralespharma.com
BMP are planning to open a series of mobile labs in addition to medical clinics to act as treatment and dispensary distribution centers. This will be executed as an extension of Biomerales Pharma Colombia’s medical partner Carlos Rios’ private Clinica Santuario, who is also a member of the BMP Advisory Board.
Redfund Capital announced that it completed its first international financing with Biominerales Pharma Corp. on August 30th 2018. Redfund and BMP signed a 2 year term convertible secured promissory note on August 23 for US$3,000,000 at an annual interest rate of 14%.
“Last week we were granted our Medicinal Cannabis licensure for the national Colombian market. This is a great accomplishment and it will allow us to expand via well known strategic partnerships in cannabis medicine benefiting the Colombian population,” stated BMP CEO Adriana Rios Garcia.
“Biomerales Pharma has become the #1 trailblazer in Colombia medical cannabis. With only a few weeks remaining before their expected approval to start government certification for 25 different cannabis medicinal genetics, they have possibly outperformed every cannabis company in Colombia with their low cost budget, experienced and well known Colombian management team and comprehensive medical platform. Redfund will continue to support BMP and looks forward to helping them become the #1 medical cannabis company in South America,” stated Meris Kott, CEO.