Vancouver, British Columbia, February 26, 2021– Global Wellness Strategies Inc. (formerly Redfund Capital Corp.)(CSE: LOAN) (Frankfurt:O3X4) (OTC QB: PNNRF) (“Global” or the “Company”) announces it has signed a binding letter of intent (”BLOI”) on February 25, 2021 with KaleidoUSA. (“K”) based in Washington State, USA to acquire 100% of the company; KaleidoUSA is focused on myco-dosing and the production of consumer packaged products.
“We are extremely fortunate to welcome Leah Kincaid and her world famous experts to the Global Wellness family. Being the first company with direct access to multiple manufacturing facilities in both Washington State and Oregon, with their own formulae, processing licenses, and the proprietary extraction technology to produce myco-dosing SKUs across multiple mushroom platforms differentiates KaleidoUSA immediately from its peers with infused hemp extract and functional mushroom consumer products and soon approved psilocybin tinctures in Oregon. This is an exciting acquisition for our shareholders and we will work diligently to sign a definitive agreement with KaleidoUSA after due diligence is completed by our banking committee,” stated Meris Kott, CEO, Global Wellness Strategies Inc.
The Company: www.kaleidomyco.com
KaleidoUSA is the story of people, process and production. Together world recognized mycologists and formulists, proprietary science driven IP and formulations, high bioavailability organic compounds, multiple delivery methods plus world-class extraction technologies make KaleidoUSA a leader in the mycology space.
The production facility in Washington State already hemp extract licensed, will bring to market pressed pills, effervescents, muscle cream, anti-aging moisturizers, bath bombs and soaps as their first rollout to the consumer-markets globally. The team is already evaluating psilocybin myco-dosing infused consumer packaged products initiatives with clinics in approved jurisdictions internationally. On January 13, 2021 Global Wellness Strategies Inc. announced that it had partnered with Clarion Holdings of Eugene, Oregon to open one of the first psilocybin consulting incubators in the area. KaleidoUSA will align itself directly with Clarion in Oregon and facilitate submission of a psilocybin license when available. KaleidoUSA will begin working with Canadian cannabis licensed producers and choose one LP to rollout a full medicinal-mushroom infused CBD product line into Canadian provincial government approved stores. European partners are already in discussions to begin marketing the hemp extract infused products in countries where approved.
The BLOI signed between the Company and KaleidoUSA sets out the parameters for the proposed transactions and the due diligence period will last 45 days consummating with the signing of a definitive agreement detailing the exact terms of the deal. Global agrees to purchase 100% of the rights to the products and IP, formulae created for consumer products for medicinal mushrooms, hemp extract-infused mushrooms, plus any and all formulas being developed for psilocybin myco-dosing from KaleidoUSA at a value near CDN$2,500,000; the final valuation to be determined during the due diligence period and approved by the board of Global Wellness Strategies Inc. The Company proposes to raise capital of CDN$2,000,000 to support the continued development of KaleidoUSA projects.
About Global Wellness Strategies.
Global Wellness Strategies is a prospect generator that provides high growth companies with financial, operational, and management assistance in the fast-growing market for wellness consumer products. The focus of the Company is on global wellness, hemp and CBD, healthcare-related target companies.
For further information please visit out website : www.globalwellnessstrategies.com
Or Contact Meris Kott CEO
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Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, its financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.