viewRedfund Capital Corp.

Redfund Capital client Wahupta sees its subsidiary win first US CBD-extraction order

The $670,000 order was made by Health Care Industries of Marco Island, Florida

Curran extraction machines
Curran Technologies will provide four of its R6 Pro CBD extraction units

Redfund Capital Corp (CSE:LOAN) (OTCMKTS:PNNRF) announced Tuesday that Curran Technologies, a wholly owned subsidiary of its client Wahupta Ventures, signed its first CBD-extraction order in the US. 

The $670,000 order, Curran’s first in the US, was made by Health Care Industries of Marco Island, Florida. Curran will provide the company four of its R6 Pro extraction units, which can produce both CBD isolate and distillate.

Curran received a deposit of $216,710 with the remaining $453,290 to be paid upon receipt of the extraction units in the next 3 months.

READ: Redfund Capital to launch Dr Klein CBD brand

The order helps extends Wahupta’s global hemp outreach. The company’s hydro carbon-based, closed loop extraction technology has a modular approach to extraction that can be scaled up as productivity needs increase making the units attractive to diverse licensed producers internationally, Redfund said in a statement.

“We are working closely with Wahupta management to sign our definitive agreement and help increase their company valuation and revenues,” Redfund CEO Meris Kott said. “As Canada comes onside with CBD products, few extraction companies in Canada have focused solely on the hemp industry.”

That focus, coupled with Curran’s S316 L medical grade stainless steel construction is helping the company establish itself as a multifaceted player in “extraction technology durability, productivity plus scalability.”

“Cannabis and hemp use different extraction screens and techniques, and we believe Wahupta has created a unique position for their division to build exponentially as legalization in Canada expands and the hemp industry grows globally,” Kott added. “The Curran extraction division differentiates Wahupta amongst many of their peers and we feel creates a strong competitive advantage for them as one of the leaders in the burgeoning hemp sector."

Redfund, based in Vancouver, provides debt and equity funding in the mid-to-late stages of a target company’s development. Its primary focus is on the medical cannabis and hemp industry.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

Quick facts: Redfund Capital Corp.

Price: 0.235 CAD

Market: CSE
Market Cap: $3.47 m

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on 04/30/2019

2 min read