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Red White & Bloom Brands Inc. (RWBYF) operates at the forefront of cannabis brand innovation and regulated market strategies. This comprehensive news hub provides investors and industry observers with essential updates on the company's operational milestones, regulatory navigation, and product developments within the evolving cannabis sector.
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Key coverage areas: quarterly financial disclosures, licensing developments, distribution network updates, and leadership initiatives. All content is verified for accuracy and relevance to support informed decision-making in this dynamic industry.
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Red White & Bloom Brands Inc. (CSE: RWB, OTCQX: RWBYF) announced a management cease trade order (MCTO) due to a delay in filing its financial statements for the fiscal year ended December 31, 2020. The company expects to file the required annual filings by May 31, 2021, followed by interim statements for Q1 2021 around June 2, 2021. During the MCTO, the CEO and CFO cannot trade shares, but the public can continue trading. RWB is focused on becoming a leading multi-state cannabis operator in the U.S. market, particularly in major states such as Florida and California.
Red White & Bloom Brands Inc. (RWBYF) announced a delay in filing its 2020 audit but expects to submit audited financial statements by May 31, 2021. Highlights include:
- Q4 2020 product sales of approximately CDN $26.5 million, up 218% from Q3.
- Completed acquisitions, including Acreage Florida and Platinum Vape.
- Raised over US$110 million since January 2020.
- Total mergers and acquisitions exceed US$250 million.
The company is expanding its presence in major cannabis markets across the U.S.
Red White & Bloom Brands Inc. (CSE: RWB, OTC: RWBYF) announced a delay in filing its 2020 audited financial statements, now expected by May 31, 2021. The company reported a significant increase in product sales, reaching approximately CDN $26.5 million in Q4 2020, marking a 218% rise from Q3. Recent acquisitions include Acreage Florida, Platinum Vape, and Mid-American Growers, contributing to over US$250 million in total consideration for mergers. RWB aims to develop its brand strategy in six of the top ten U.S. cannabis markets.
Red White & Bloom Brands Inc. (CSE: RWB, OTCQX: RWBYF) announced a delay in filing its annual financial statements for FY ended December 31, 2020, due by April 30, 2021, due to complexities in auditing post-acquisition integrations and COVID-19 impacts. The anticipated filing date is now on or before May 31, 2021. The British Columbia Securities Commission has issued a management cease trade order, preventing the company's CEO and CFO from trading shares, although general trading can continue. RWB remains focused on becoming a leading multi-state cannabis operator in the U.S.
Red White & Bloom Brands Inc. has successfully acquired Acreage Florida, Inc. and related real estate assets for a total of $60 million. The acquisition includes a cash component of $16.5 million, $7 million in stock, and $28 million in promissory notes. RWB Florida is now licensed for medical marijuana operations in Florida, which has 450,000 registered medical cannabis patients and a projected market growth. Jim Frasier has been appointed as Florida General Manager, emphasizing community commitment and ESG initiatives.
Red White & Bloom Brands Inc. (CSE: RWB, OTC: RWBYF) announced that CEO Brad Rogers will appear on FOX 5 New York on April 16, 2021, for the segment titled NY Street Soldiers – The Business of Legal Marijuana. This segment will also re-air on April 18, 2021, and will be available on various platforms, including YouTube and Spotify. The Company aims to be among the top three multi-state cannabis operators in the U.S., focusing on major markets like Florida, Illinois, and California for cannabis and internationally for hemp-based CBD products.
Red White & Bloom Brands Inc. (CSE: RWB, OTC: RWBYF) has received approval from the Florida Department of Health for its acquisition of Acreage Florida, enhancing its position in a lucrative market valued at over US$1.2 billion in cannabis revenue for 2020. Florida has a limited license structure with 22 licensed operators, which presents growth opportunities. The Company aims to be a top player in the U.S. cannabis industry and is focusing on key markets, including Florida, Illinois, California, Michigan, Oklahoma, and Arizona.
Red White & Bloom Brands Inc. (CSE: RWB, OTC: RWBYF) plans to boost its cannabis cultivation capacity by acquiring 30 fully enclosed grow pods in Florida, providing 14,400 square feet of canopy. The facility is expected to yield over 7,000 pounds of premium cannabis annually, with a retail value exceeding US$40 million. This expansion supports the company's strategy to enter the Florida cannabis market and is projected to close in Q2 2021. RWB aims to differentiate its products from mass-produced cannabis by focusing on premium offerings.
Red White & Bloom Brands Inc. (CSE: RWB, OTC: RWBYF) reports strong demand for Platinum products, achieving record sales of approximately $6.5 million in Michigan in February alone, capturing nearly 28% of the market share. The launch of High Times-branded products is also progressing, with over 50 dispensaries in Michigan participating. The company's acquisition strategy is advancing in Michigan, Illinois, and Florida, with these states representing significant cannabis revenue potential. Additionally, it has launched CBD hemp cigarettes in Florida as part of an extensive rollout.
Red White & Bloom Brands Inc. has announced a strategic partnership between its subsidiary, Platinum Vape, and Budee, a delivery platform owned by Stem Holdings. This collaboration will make Platinum's cannabis products available for home delivery to 92% of California's population, responding to increased demand for cannabis delivery services. Budee boasts over 350 drivers and four distribution hubs throughout California, ensuring rapid delivery, typically within 90 minutes. This partnership aims to enhance brand recognition and accessibility of Platinum products in California's cannabis market.
