logo-loader

Redfund Capital portfolio client Biolog teams up with Cannabis Strategic Ventures

Published: 13:22 28 Nov 2018 GMT

A hot beverage with a marijuana leaf
Water-soluble cannabis technologies open new avenues of development, according to Cannabis Strategic Ventures

Redfund Capital Corp (CNSX:LOAN) said Wednesday that a portfolio client, Biolog Inc, has formed a partnership with Cannabis Strategic Ventures Inc (OTCMKTS:NUGS) to develop water-soluble cannabis.

The Vancouver-based medical cannabis financier said in a press release that the product would be used as ingredients for cannabis- and phytocannabinoid-rich foods, beverages and consumer products. Under the agreement, Hayward, California-based Biolog and Los Angeles-based Cannabis Strategic Ventures will team up on marketing.

READ: Redfund Capital says cannabis legalization in 3 more US states a milestone

Various existing techniques to make cannabinoids water-soluble have drawbacks, according to Redfund. The joint development effort between Biolog and Cannabis Strategic Ventures will seek to push past current limitations to develop a new set of functional cannabinoid ingredients that can be easily added to foods, beverages, cosmetics and other consumer products, Redfund said.

“Water-soluble cannabis technologies open new avenues for the development of cannabinoid-based products," Simon Yu, CEO of Cannabis Strategic Ventures, said in a statement.

Redfund Capital CEO Meris Kott added that “working alongside Cannabis Strategic Ventures and assisting them to realize their mandate building their products brands using Biolog technology shows collaboration of incubators in the space.”

Shares of Redfund closed at C$0.44 in Tuesday’s Canadian trading. Shares of Cannabis Strategic Ventures slipped US$0.34 to US$1.89 on the OTC market.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com