NetworkNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Releases Q4, FY 2020 Financial Reports
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has reported fourth quarter and full year 2020 financial results and company highlights. The report noted that Q4 2020 adjusted sales totaled C$28.6 million, an increase of 290% over the third quarter, with fourth quarter 2020 revenue reaching C$15.7 million, an increase of 158% over the third quarter. Finally, full year 2020 adjusted sales topped more than $37.8 million with revenue coming in at $23.3 million. In addition, the announcement noted that RWB closed two significant acquisitions, completed its go-public transaction and established its first THC operations and brands, as well as raised more than $100 million to support expansion and operation efforts. In addition, Red White & Bloom announced that it has scheduled a conference call and audio webcast to provide an overview of the company’s 2020 and Q1 2021 operating results and 2021 outlook; the webcast will also include a Q&A session. Anyone interested can participate by calling (877) 705-6006 toll-free or (201) 689-8557 for international. “We set out at the beginning of 2020 with a three-year plan for our success,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “Our strategy was to establish a foundation for the overall company and identify the core states to operate in and a plan to scale in those states. We have set the foundation for our core states including Michigan, Illinois, Florida and California. In 2021 we look to expand through an asset light approach in other states, such as Arizona, and complete the integration of our M&A targets while gaining operational synergies from all we have accomplished over the last 18 months. For the balance of 2021 and throughout 2022, the company will focus on the continued growth of our topline revenue and bottom-line results through expansion of our house of brands that continue to gain momentum, fortification of our vertically integrated businesses, and the synergies from our M&A success.”
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Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has reported fourth quarter and full year 2020 financial results and company highlights. The report noted that Q4 2020 adjusted sales totaled C$28.6 million, an increase of 290% over the third quarter, with fourth quarter 2020 revenue reaching C$15.7 million, an increase of 158% over the third quarter. Finally, full year 2020 adjusted sales topped more than $37.8 million with revenue coming in at $23.3 million. In addition, the announcement noted that RWB closed two significant acquisitions, completed its go-public transaction and established its first THC operations and brands, as well as raised more than $100 million to support expansion and operation efforts. In addition, Red White & Bloom announced that it has scheduled a conference call and audio webcast to provide an overview of the company’s 2020 and Q1 2021 operating results and 2021 outlook; the webcast will also include a Q&A session. Anyone interested can participate by calling (877) 705-6006 toll-free or (201) 689-8557 for international. “We set out at the beginning of 2020 with a three-year plan for our success,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “Our strategy was to establish a foundation for the overall company and identify the core states to operate in and a plan to scale in those states. We have set the foundation for our core states including Michigan, Illinois, Florida and California. In 2021 we look to expand through an asset light approach in other states, such as Arizona, and complete the integration of our M&A targets while gaining operational synergies from all we have accomplished over the last 18 months. For the balance of 2021 and throughout 2022, the company will focus on the continued growth of our topline revenue and bottom-line results through expansion of our house of brands that continue to gain momentum, fortification of our vertically integrated businesses, and the synergies from our M&A success.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
