NetworkNewsBreaks – Red White & Bloom Brands Inc
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Posted On: 10/18/2021 3:51:00 PM
NetworkNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Announces Management Transition, Reduces Liabilities
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has completed a management transition at Platinum Vape (“PV”) LLC and a group of companies acquired earlier this year. In addition, RWBYF has settled all additional PV acquisition purchase price consideration and redeemed $5 million of convertible debentures. According to the announcement, Red White & Bloom noted strong demand in Michigan and California is outpacing its supply of PV brand offering and stated that it has made expanding its PV brand a top priority; the company anticipates increased production to reach more than 450,000 PV vape carts per month by November. “Platinum Vape experienced unprecedented growth over the last couple of years, and our acquisition of PV last year was a watershed event for RWB,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “In addition to the current changes, we expect the further transition for management of the PV segment into a state-specific focus will allow for the expansion of the brand to each state in which RWB operates, while facilitating compliance for the regulatory and marketing nuances that are unique to each jurisdiction.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has completed a management transition at Platinum Vape (“PV”) LLC and a group of companies acquired earlier this year. In addition, RWBYF has settled all additional PV acquisition purchase price consideration and redeemed $5 million of convertible debentures. According to the announcement, Red White & Bloom noted strong demand in Michigan and California is outpacing its supply of PV brand offering and stated that it has made expanding its PV brand a top priority; the company anticipates increased production to reach more than 450,000 PV vape carts per month by November. “Platinum Vape experienced unprecedented growth over the last couple of years, and our acquisition of PV last year was a watershed event for RWB,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “In addition to the current changes, we expect the further transition for management of the PV segment into a state-specific focus will allow for the expansion of the brand to each state in which RWB operates, while facilitating compliance for the regulatory and marketing nuances that are unique to each jurisdiction.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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