Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Completes Refinancing Amid Multi-state Drive to Roll Out Cannabis Brands

  • Multi-State Operator Red White & Bloom Brands is a cannabis retail opportunity builder expanding via acquisitions to create a synergistic portfolio throughout North America
  • The company recently completed strategic refinancing that reorganizes its debt under an agreement that matures in January 2023
  • The company continues aiming to improve its EBITDA margins under a harmonious High Times brand throughout its retail stores in Michigan, Florida, and Illinois, and it continues to build additional opportunities in California, Arizona, Oklahoma, and Massachusetts
  • North America is set to become the dominant producer market for cannabis, and Red White & Bloom’s multi-state operator efforts are positioning it to become one of the top names in the U.S. legal cannabis and hemp sector

Retail cannabis brand builder Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multi-state operator intent on becoming one of the top names in the U.S. legal cannabis and hemp sector, announced Sept. 27 the successful completion of refinancing that will replace $18.62 million in debentures plus accrued interest with a new principal amount that will be payable on the maturity date of Jan. 21, 2023 (https://cnw.fm/diClk).

Red White & Bloom is a Canadian-based company working to build on its successes in United States markets through strategic brand acquisitions and partnerships. The company has closed or is in the process of closing on assets in Michigan, Illinois, Florida, Oklahoma, Massachusetts, and California. 

In September, Red White & Bloom announced a key element of that growth process with news that it has improved a Florida production facility, building it out to good manufacturing practice (“GMP”) standards as it takes aim at the Sunshine State’s growing market for edible cannabis derivatives (https://cnw.fm/sfw3k). 

Forbes has reported that Florida is the third-largest cannabis market in the country by annual sales and the largest market for medical marijuana (https://cnw.fm/EU4eU). Despite the ongoing COVID-19 pandemic, Florida continues to be a huge draw for tourism and is becoming friendlier to cannabis-tolerant legislation, creating the potential for huge benefits for companies well situated to take advantage of the trend. 

And in Michigan, a focal point for Red White & Bloom’s development, the company received adult recreational use prequalification status last month and hopes to end the year with a big retail presence in the state (https://cnw.fm/iBAAN).

Red White & Bloom acquired exclusive rights to High Times-branded THC products in Michigan, Florida and Illinois last year as well as exclusive High Times naming rights for its retail outlets in those states, providing Red White & Bloom with the ability to harmonize all its stores with instant brand equity and expand its EBITDA margins (https://cnw.fm/T6D6j).

The company has built its footprint coast-to-coast, also establishing a presence in California, Arizona, Oklahoma, and Massachusetts. 

North America is set to become the dominant producer of cannabis, and in Canada cannabis retail outlets, producers, manufacturers, distributors and warehouses were declared to have “essential services” status during the COVID-19 pandemic by Alberta’s leadership, allowing business to proceed unhindered there. Cannabinoid drugs such as Marinol, Syndros, Cesamet, and Epidolex gained approval by the Food and Drug Administration for medicinal use in the United States, and 10 states have legalized psychoactive forms of cannabis for recreational drug use (https://cnw.fm/OhQV6).

For more information, visit the company’s website at www.RedWhiteBloom.com

NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://cnw.fm/RWBYF

About HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.HempWire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.HempWire.com/Disclaimer

Do you have a questions or are you interested in working with HW? Ask our Editor

HempWire (HW)
Denver, Colorado
www.HempWire.com
303.498.7722 Office
Editor@HempWire.net

HempWire is part of the InvestorBrandNetwork.

Archives

Select A Month

HempWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722