PEGASUS MERCANTILE INC. — Capital/Financing Update 2021

Jan 15, 2021

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REDFUND CAPITAL ANNOUNCES NAME CHANGE AND CONSOLIDATION

January 15, 2021 - Vancouver, British Columbia, – Redfund Capital Corp. (CSE: LOAN) (Frankfurt:O3X4) (OTC QB: PNNRF) (Redfund or the “Company”) announces today it will be seeking the Canadian Securities Exchange (the “CSE”) approval to change its name from Redfund Capital Corp. to Global Wellness Strategies Inc. (the “Name Change”) and to consolidate all of its issued and outstanding common shares (the “Common Shares”) on the basis of 4:1, with each 4 (four) preconsolidated Common Shares being consolidated into one (1) post-consolidated Common Share (the “Share Consolidation”). The proposed Name Change and Share Consolidation has been approved by the Company’s board of directors who feel that the changing the name to Global Wellness Strategies Inc. reflects the Company’s strategic focus to provide financial, operational, and management assistance in the fast-growing market for global wellness consumer products. The Company's stock symbol on the CSE will remain as " LOAN ".

“The name Global Wellness Strategies Inc. is highly aligned with our mission, and positions us to capitalize on the growth in consumer demand for health and wellness products across all categories. We have made the decision to focus entirely on being a prospect generator for global wellness products and partnering with our clients’ desires to work together to build a better world. Our board is committed to our shareholders and showing them their continued support is valued and we plan on increasing our marketing awareness programs to promote our clients and the company brands,” said Meris Kott, CEO.

The proposed Share Consolidation would result in the number of issued and outstanding Common Shares being reduced from the current outstanding 63,418,904 Common Shares to approximately 15,854,726 Common Shares. The Company also has outstanding incentive stock options to purchase 2,075,000 Common Shares and 3,555,556 share purchase warrants reserved for issuance, which will result in a total of 1,407,638 Common Shares on a post consolidation basis.

No fractional shares will be issued as a result of the Share Consolidation. Any fractional shares resulting from the Share Consolidation will be rounded down to the next whole Common Share, and no cash consideration will be paid in respect of fractional shares.

The Company’s board of directors believes that the Share Consolidation will provide the Company with greater flexibility for the continued development of its business and the growth of the Company, including financing arrangements. There is no change of business associated or being effected with respect of the Share Consolidation or the Name Change.

The Company is obtaining one set of new CUIP and ISIN numbers for the Name Change and the Share Consolidation. The record date for the Consolidation will be January 21, 2021. The effective date of the Name Change and Share Consolidation and the new CUSIP and ISIN numbers will be disclosed in a subsequent news release. Generally, with respect of a consolidation, the shares would commence quotation on the CSE on a consolidated basis on the first trading day preceding the record date and the CSE would issue a bulletin to dealers advising of the share consolidation and effective date of trading on the consolidated basis. With respect of a name change, shares normally commence trading on the under the new name at the opening of trading two or three trading days after the filing of documents by the Company confirming the name change. The Company intends to effect the Name Change and the Share Consolidation concurrently. Notwithstanding the foregoing, the Name Change and the Share Consolidation are subject to regulatory approval, and the board of directors may, at its discretion, determine not to effect the Name Change or Share Consolidation or may determine to amend the terms of the Share Consolidation.

About Redfund Capital Corp.

Redfund partners with first mover, high growth companies, and provides them with access to capital, resources, and infrastructure. The present focus of the merchant bank is on global wellness, hemp and CBD-related, healthcare-related target companies.

For further information please visit www.redfundcapital.com For more information on Redfund Capital Corp. contact Meris Kott CEO 604.484.0355 or info@redfundcapital.com

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.

Information set forth in this press release may involve forward-looking statements, including statements relating to the securities of the Company trading on the CSE. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. In this case, disclosure about proposed the Name Change and the Share Consolidation are forward-looking statements, and there is a risk that neither the Name Change nor the Share Consolidation may occur or occur as planned, and there is a risk that such event(s) occurring or not occurring (whether at all or as planned) may have adverse unforeseen impact on the Company, its market for securities, and/or its future business prospects (which include fundraising and operational matters). Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company's MD&A and other disclosure filings with the CSE regulators which are found at www.sedar.com.