- Developments in North American cannabis market present opportunities
- Recreational cannabis now legal in 10 states, medical in 33
- Alliance formed between Canadian Mary’s Wellness and U.S.-based Winterlife, both Redfund clients
As Aesop’s Fables teach, “In union, there is strength.” This time-tested proverb is being put to action through the strategic alliance created between two portfolio clients of Canadian merchant bank Redfund Capital Corp. (CSE: LOAN) (OTC: PNNRF) (Frankfurt: O3X4). In mid-December, Redfund clients Mary’s Wellness Ltd. and Winterlife Inc. detailed plans to join forces for a global cannabis products launch (http://cnw.fm/kK8PK). Redfund targets companies in the mid to late stages of development with a variety of capital financing solutions. The merchant bank is focused on the medical cannabis, hemp and CBD sectors of the health care industry.
The pact between Mary’s Wellness and Winterlife follows in the wake of felicitous developments in the North American cannabis market. On October 17, 2018, the legalization of recreational cannabis in Canada took effect. A month later, two more U.S. states – Missouri and Utah – legalized medical marijuana, bringing to 33 the number of states that have done so. Medical marijuana is also legal in Guam, the Northern Mariana Islands, Puerto Rico and Washington, DC. In addition, adult use marijuana is now legal in 10 states, as well as the District of Columbia (http://cnw.fm/8vMbo). As a result, the legal cannabis market in North America, pegged at $10.8 billion in 2018, is expected to almost quintuple to $47.3 billion by 2027, according to Statista.
The partnership between Mary’s Wellness and Winterlife will first launch Mary’s Wellness, a well-known Canadian tea brand, in the U.S. The Mary’s Wellness product range is extensive. It includes a Sleep & Relax Tea, as well as teas in the following flavors: Bella Coola, berry berry, chai, chamomile, earl grey, Echinacea, green tea, green tea with ginger, green tea with ginseng, lemon, orange pekoe and peppermint. There’s also apple cider, hot chocolate, English toffee cappuccino, French vanilla cappuccino and java coffee. These beverages, sold in boxes of 12 packets, will generally deliver 60mg of THC and 6mg of CBD per packet.
Winterlife is launching complementary marketing initiatives. The company, based in Washington State, has kicked off a multi-state U.S. expansion by branding a new set of THC-free CBD products that are 100 percent organic, vegan and gluten free. A Canadian launch is also in the works. Winterlife’s famous gourmet cookies, tinctures and capsules are made with clean extracted full spectrum Rick Sampson Oil (RSO) and so contain the many synergistic cannabinoids and terpenes naturally found in high-quality flower, thus delivering the whole plant experience. RSO is a cannabis concentrate.
Winterlife’s product range includes ‘Classic Cookies’ in a variety of flavors, such as Spotted Skunk’s Strawberry Jam Cookies, Crow’s Chocolicious Chocolate Chip Cookies, Platy’s Premium Peanut Butter Cookies and Chipmunk’s Classic Triple Combo Cookies. Winterlife also offers Hedgehog’s Cannabis Cocktail Spikers, as well as tinctures, such as Asian Elephant’s Orange (Indica), and capsules, such as Bumblebee’s Buzzin Buzzy Caps.
Founded by bankers and entrepreneurs with years of experience in business, consulting, capital markets, corporate finance and health care services, Redfund Capital provides a debt financing facility to help companies build their valuations and get to the next levels in their financing cycles without prematurely giving away equity.
For more information, visit the company’s website at www.RedfundCapital.com
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