Cannabis financier Redfund Capital Corp (CSE:LOAN) said Thursday that it has recruited Wingspan Advisors and leading marketing expert Jerry Hug as it kicks off a new US-focused investment plan.
Hug will be Redfund’s first advisor to its newly-formed US advisory team and will work on positioning the cannabis investment company in the US market.
The Redfund team intends to focus on the CBD and hemp sector as it looks to target new investment opportunities in the US.
Hug’s first project will be to help to set up a working relationship with US partners for Redfund’s current portfolio companies.
“Redfund Capital is converting our strongest portfolio client loans into equity company positions this month,” said Redfund CEO Meris Kott in a statement. “As we build our American footprint, the Company has also begun our application to the OTCQB. We are excited to welcome Jerry to our team and his input and experience will be an invaluable asset to our growth.”
Hug is currently director of global operations for Cloud Commerce, a data-driven marketing company, in the US. Previously, he was also CEO of SITO Mobile, a mobile advertising company where he was instrumental in winning an uplisting to the NASDAQ market.
Based in Vancouver, Redfund provides debt and equity funding in the mid-to-late stages of a target cannabis company’s development. Its focus is on companies specializing in medical cannabis as well as healthcare and hemp and CBD-related products.
RedFund shares held steady at C$0.26 in Thursday’s morning trading.
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