- Red White & Bloom Brands is a cannabis and hemp multi-state operator, focused on product consistency and quality, critical to the developing cannabis market that is rapidly growing state by state
- The company’s successes in Michigan, a leading U.S. cannabis market, include the acquisition of full licensing, a 15,000-square-foot manufacturing and distribution facility, and more than 20 new potential locations for cultivation and dispensaries
- In Florida, RWB is building on its acquisition of a 45,000-square-foot cultivation facility to provide premium inventory to several existing dispensaries and new sites expected to open during this year’s Q1
Mainstream wellness consumers have cast sidelong glances at the explosion of cannabidiol (“CBD”) brands over the years, particularly those that require inhalation. But increasing regulatory approval on a state-by-state basis, as well as the 2,000-plus CBD brands that range from easy access “gas station” products to “premium” boutique shop inventory, evidence that the consumer appeal of medicinal cannabis is still showing a significant expansion curve.
“While an increasing number of wellness product manufacturers are toying with incorporating CBD and other cannabinoids into products, their efforts have been stymied by the very nature of the ingredients,” Tennessee-based Volunteer Botanicals CEO Derek Odette recently told lifestyle brand Nutritional Outlook (https://cnw.fm/286Nx). “When cannabinoids and terpenes are extracted from the hemp or marijuana plant, the result is an oil in the same way perfume and cooking oils are extracted from organic materials. Unfortunately, oil-based cannabinoids don’t play well with many nutraceutical ingredients. It can be extremely difficult to balance ratios between different ingredients, which ultimately leads to inconsistent products.”
Premium cannabis brand multistate operator Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) has been building assets steadily in Michigan, Florida, Illinois, Massachusetts, and Arizona, while working to establish the quality and consistency wellness consumers seek.
After struggling with market perceptions of its business plan at the close of the year, Red White & Bloom announced full licensing for manufacturing both medical and adult use cannabis products in Michigan in January, along with closing a lease assignment for a 15,000-square-foot manufacturing, processing and distribution facility in the city of Warren.
“This Warren facility allows us to centralize distribution for our ‘house of premium brands’ in Michigan and finally report all of our Platinum Vape(TM) wholesale sales on a much less confusing and straightforward basis,” CEO and Chairman Brad Rogers stated (https://cnw.fm/sfIda).
The manufacturing facility is a key part of RWB’s acquisition strategy for 18 Michigan dispensaries, four cultivation facilities and other important real estate. The company also is using its acquisition of a 45,000-square-foot Florida cultivation facility to spearhead premium inventory production for several existing and new dispensaries under the company’s banner.
“The Apopka facility will deliver the cultivation needed to meet our significant retail expansion goals throughout the state. It will also allow us to serve patients with the quality and consistency they deserve,” Rogers stated last fall (https://cnw.fm/TeYy6).
“Despite being relatively new players in the Florida market, I feel we have the most talented team of PhDs and horticulturalists, and an incredible grow infrastructure to bring the highest quality products, rich in terpenes and cannabinoid content, to some of the best retail locations in the state starting in Q1 2022,” he added in October.
Michigan positioned itself as a leading market in the United States for cannabis sales with $1.79 billion transacted last year. Red White & Bloom’s seed-to-sale integration for the medical and adult use sectors was further enhanced last month when it closed its acquisition of PharmaCo, Inc., granting the company over 20 assets in the state for potential new cultivation and dispensary locations (https://cnw.fm/dTLV6).
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
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