Cannabis-focused merchant bank Redfund Capital Corp (CSE:LOAN) revealed it is to provide finance to a company, which has produced a potentially revolutionary product to help Alzheimer's sufferers.
RxMM Healthcare Inc is the subsidiary of RxMM Health Capital and consists of six subsidiary companies involved in the cultivation and manufacturing of pharmaceutical grade cannabis for over-the-counter medications and wellness products.
It is planning to have more than 4 million square feet (sq ft) of pharma-grade cannabis under cultivation by mid-2022.
Its healthcare products to be marketed consist of Alzheimer’s Defense (AD) daily tablets, Alzheimer’s Defense PLUS+ CBD daily gel caps.
There is also the FDA approved NeuroNasal Strips and CBD PLUS+ anti-oxidant topical patches to support overall antioxidant and anti-inflammatory wellness for up to 72-hours.
"For anyone who has watched a relative’s or friends’ memory disappear before them it is heartbreaking," said Meris Kott, the chief executive at Redfund.
"If Alzheimer Defense helps prevent or slow down the process of memory loss it is a miracle.
"Redfund is excited to finance the building this revolutionary brand by RxMM and looks forward to supporting RxMM’s other subsidiaries in the near future with additional funding," she said.
Alzheimers Defense (AD) is a proprietary, CBD infused "all natural" nutraceutical product, whose claims are underpinned by two scientific research studies.
These were funded by the National Institutes of Health and conducted at the University of California, Irvine, Institute for Memory Impairments and Neurological Disorders (UCI MIND) and the University of Kentucky.
Currently, there is no other preventative Dementia/ Alzheimer product on the market with evidence to support product efficacy claims, noted Redfund.
Redfund and RxMM have inked a two-year convertible secured promissory note on October 5 this year for $500,000 at an annual interest rate of 14%, of which the first tranche is $200,000.
The note may be converted at Redfund’s discretion at any time during the term and Redfund has a right of first refusal to provide financing to RxMM upon the same business terms as are being offered to RxMM by any other funders.
Contact Giles at [email protected]