NetworkNewsBreaks – Red White & Bloom Brands Inc
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Posted On: 05/11/2022 4:13:15 PM
NetworkNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Expanding Reach, Reports ‘Significant Balance Sheet and Operational Improvements’
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) has been strengthening its revenue streams in the states where it operates, particularly in Michigan, Florida and California of late, while also working to deal with its debt to make it more long-term feasible, announcing recently that it has eliminated several million dollars’ worth of liabilities and annual expenses. “The acquisition earlier this year of a 15,000-square-foot manufacturing, processing and distribution facility as well as properties owned by PharmaCo Inc., in Michigan, plus full licensing for manufacturing both medical and adult-use cannabis products in the state, assured RWB’s efforts to become fully vertically integrated and to expand the reach of Platinum Vape,” notes a recent article. In an April 20 announcement, RWB noted its intention to “eliminate an intangible asset of about $77 million as well as a license liability of $60 million from its balance sheets following restructuring of its debt while reducing ‘well over $100 million of liabilities without any dilution to our shareholders,’ a continuation of efforts since last year to cut debt.” Of the strides RWB has achieved, the recent article quotes CEO Brad Rogers as saying, “We are very pleased with the significant balance sheet and operational improvements we have made in a relatively short period of time.”
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) has been strengthening its revenue streams in the states where it operates, particularly in Michigan, Florida and California of late, while also working to deal with its debt to make it more long-term feasible, announcing recently that it has eliminated several million dollars’ worth of liabilities and annual expenses. “The acquisition earlier this year of a 15,000-square-foot manufacturing, processing and distribution facility as well as properties owned by PharmaCo Inc., in Michigan, plus full licensing for manufacturing both medical and adult-use cannabis products in the state, assured RWB’s efforts to become fully vertically integrated and to expand the reach of Platinum Vape,” notes a recent article. In an April 20 announcement, RWB noted its intention to “eliminate an intangible asset of about $77 million as well as a license liability of $60 million from its balance sheets following restructuring of its debt while reducing ‘well over $100 million of liabilities without any dilution to our shareholders,’ a continuation of efforts since last year to cut debt.” Of the strides RWB has achieved, the recent article quotes CEO Brad Rogers as saying, “We are very pleased with the significant balance sheet and operational improvements we have made in a relatively short period of time.”
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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