NetworkNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Provides Update, Plans to Release FY2020 Financials
Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) has announced that it will file its 2020 audited financial statement on or before May 31, 2021. In addition, the company released a brief company update featuring highlights of 2020. The update noted that Q4 2020 product sales for the company totaled an estimated CDN $26.5 million, which was a 218% increase over the Q3. The company also completed its acquisitions of Acreage Florida Inc., PV (“PV”) and Mid-American Growers. RWBYF also entered into a definitive agreement to purchase one of only 21 cannabis licenses and operations in Illinois. The company submitted required applications to complete the acquisition of all the assets of PharmaCo. and raised more than US$110 million in the first four months of 2021. In addition the company has either finalized or has entered into definitive agreements for the acquisition of THC-licensed entities in Michigan, Illinois, Florida, California and Massachusetts. The company noted that upon the closing of all planned acquisitions, RWB branded products will be available in six of the top 10 states in the country, measured by cannabis revenue, with sales in 2020 totaling more than $8.8 billion. “Despite our frustration with the delay in releasing our results for 2020, we are thrilled with what we have accomplished over the year, and the first few months of 2021,” said Red White & Bloom Brands CEO and chair Brad Rogers in the press release. “I see a company that has grown from being an arm’s-length investor in Michigan to a footprint that will see RWB deploy its house of brand strategy in six of the most coveted cannabis markets in the United States.”
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Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) has announced that it will file its 2020 audited financial statement on or before May 31, 2021. In addition, the company released a brief company update featuring highlights of 2020. The update noted that Q4 2020 product sales for the company totaled an estimated CDN $26.5 million, which was a 218% increase over the Q3. The company also completed its acquisitions of Acreage Florida Inc., PV (“PV”) and Mid-American Growers. RWBYF also entered into a definitive agreement to purchase one of only 21 cannabis licenses and operations in Illinois. The company submitted required applications to complete the acquisition of all the assets of PharmaCo. and raised more than US$110 million in the first four months of 2021. In addition the company has either finalized or has entered into definitive agreements for the acquisition of THC-licensed entities in Michigan, Illinois, Florida, California and Massachusetts. The company noted that upon the closing of all planned acquisitions, RWB branded products will be available in six of the top 10 states in the country, measured by cannabis revenue, with sales in 2020 totaling more than $8.8 billion. “Despite our frustration with the delay in releasing our results for 2020, we are thrilled with what we have accomplished over the year, and the first few months of 2021,” said Red White & Bloom Brands CEO and chair Brad Rogers in the press release. “I see a company that has grown from being an arm’s-length investor in Michigan to a footprint that will see RWB deploy its house of brand strategy in six of the most coveted cannabis markets in the United States.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
