Welcome to our dedicated page for Red White Bloom news (Ticker: RWBYF), a resource for investors and traders seeking the latest updates and insights on Red White Bloom stock.
Red White & Bloom Brands Inc. (RWBYF) generates frequent news through its financial reporting, corporate restructuring and expansion activities in the legal cannabis industry. The company’s releases cover its operations as a multi-state and multi-jurisdictional cannabis operator and house of brands active in the United States, Canada and select international jurisdictions.
Investors following RWBYF news will see regular updates on audited annual results and interim financial statements, together with management’s discussion and analysis. These announcements summarize revenues, gross profit, operating expenses, EBITDA and adjusted EBITDA, and often highlight shifts toward higher-margin revenue and changes in the company’s operating structure.
News coverage also focuses on strategic transactions and integration work. A major theme is the acquisition of the former Aleafia group of companies, which expanded Red White & Bloom’s Canadian and international footprint. Releases describe how this transaction added recreational, medical and export channels, as well as cultivation and processing facilities and established brands such as Emblem and Divvy.
Operational updates appear frequently, including commentary on restructuring adult-use and medical-use retail operations in Michigan, receivership proceedings involving Pharmaco Inc., and developments in U.S. markets where the company is active. RWB also reports on licensing and distribution arrangements for its Platinum Vape products in states such as Ohio and Missouri, and on its medical retail and distribution activities in Florida and Michigan.
This news page aggregates these disclosures so readers can review financial performance summaries, regulatory developments, transaction milestones and market-by-market updates for Red White & Bloom Brands Inc. Bookmark this feed to monitor how the company reports on its cannabis operations across North American and select international markets.
Red White & Bloom Brands Inc. (RWBYF) reported a 193% increase in full-year 2021 revenue to CDN $37.3 million, up from CDN $19.3 million in 2020. The first quarter of 2022 showed record revenue of CDN $28 million. Gross Margin for 2021 reached CDN $23.2 million, significantly up from CDN $12.9 million in 2020. However, the company faced an Adjusted EBITDA loss of $10.3 million for 2021, though it reported a positive EBITDA of $360,000 for Q1 2022.
Red White & Bloom Brands Inc. (RWBYF) announced an extension of its management cease trade order (MCTO) due to delays in filing its financial statements for the fiscal year ended December 31, 2021. The British Columbia Securities Commission approved the extension, allowing the company to submit the Annual Filings and Q1 2022 reports by July 15, 2022. The MCTO does not stop public trading of the company's shares, but key executives are restricted from trading. The company also noted the resignation of Ryan Costello from its board for personal reasons.
C3 Industries has formed an exclusive partnership with Red White & Bloom to license the Platinum Vape brand for sale in Missouri and Massachusetts. This strategic move aims to expand the presence of Platinum Vape, a leading name in the vape cartridge industry, known for its innovative products and quality. The initial offerings will include a variety of popular flavors. C3 seeks to achieve a top 5 market share in these states as it introduces more products over time.
Red White & Bloom Brands Inc. (CSE: RWB, OTCQX: RWBYF) updates on a management cease trade order (MCTO) issued on May 3, 2022, due to delays in filing financial statements for the fiscal year ended December 31, 2021. The audit is ongoing, with further updates expected by May 31, 2022. While the CEO and interim CFO cannot trade shares during the MCTO, the general public can continue trading. The company commits to bi-weekly status reports until it complies with the Annual Filings requirement.
Red White & Bloom Brands Inc. (RWBYF) announced a delay in its annual financial statements for the fiscal year ending December 31, 2021, due to complexities associated with acquisitions, dispositions, and COVID-19's impact. As a result, the British Columbia Securities Commission granted the company a management cease trade order (MCTO). The company will comply with alternative information guidelines and provide bi-weekly updates until the necessary filings are completed. Trading will continue for the public, but the CEO and CFO are restricted from trading during the MCTO.
Red White & Bloom Brands Inc. (RWBYF) has announced the postponement of its 2021 Yearend Earnings Call, originally set for May 3, 2022, with further updates expected on the same date. The company operates as a multi-state cannabis operator in the U.S., focusing on major markets like Arizona, California, and Florida, as well as hemp-based CBD products. This delay in earnings reporting may raise concerns among investors regarding the company's financial transparency and operational performance.
Red White & Bloom Brands Inc. (OTC: RWBYF) has made significant strides in strengthening its balance sheet, announcing the sale of its Granville, Illinois facility for $56.1 million. The company repaid $51.7 million of secured debt, effectively eliminating $6.2 million in annual interest expenses. RWB is pivoting to an asset-light model in Illinois, aiming to reduce operating expenses by over $13 million annually. The strategic changes have resulted in a total liability reduction exceeding $115 million, with a focus on growing its Platinum Vape brand.
Red White & Bloom Brands Inc. (RWBYF), a multi-state cannabis operator, is set to release its year-end 2021 financial results on May 2, 2022, after market close. The company will hold a conference call on May 3, 2022, at 5:00 PM ET to discuss its Q3 2021 results and future operations, with a Q&A session available online. Interested parties can access the call via provided links. RWB operates in key U.S. markets, focusing on cannabis and hemp products while navigating industry challenges and uncertainties.
Red White & Bloom Brands has announced the launch of Platinum Vape Live Resin in Michigan, expanding its presence to nearly 400 dispensaries. This marks the brand's first new product beyond distillate vapes. Live resin sales have surged 86% since 2020, showcasing strong consumer demand. RWB aims to streamline its production and distribution processes, enhancing product availability. The Michigan cannabis market continues to grow, with a reported $1.79 billion in total sales for 2021, indicating a favorable environment for RWB's upcoming product offerings.
Red White & Bloom Brands has successfully acquired PharmaCo, Inc., enhancing its presence in Michigan's cannabis market. The acquisition includes eight operational dispensaries, two indoor cultivation facilities, and a 10-acre outdoor site, totaling over 30,000 sq. ft. of cultivation space. This move positions RWB to leverage the $1.79 billion cannabis market in Michigan, now employing 180 staff in the state. RWB also aims to extend its product lines and improve customer experience in its dispensaries, underlining its commitment to growth and community investment.