- 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://ibn.fm/dfzJY).
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://ibn.fm/HglMG).
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://ibn.fm/tDV1C). 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://ibn.fm/JZ2TS).
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://ibn.fm/30cI3).
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://ibn.fm/gBcbP).
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://ibn.fm/RWBYF
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