Red White & Bloom Brands Inc. - RWBYF STOCK NEWS

Red White & Bloom Brands (RWBYF) is advancing its Florida expansion by launching 30 grow pods at its Apopka facility, adding 19,200 sq. ft. of cultivation space. This is expected to generate $30 million in annual revenue. The first five pods are already operational, with full deployment targeted for December 1. Additionally, the company has initiated its edibles production, launching a new line of chocolates. With ongoing development and hiring efforts, RWBYF aims to support its upcoming dispensary openings in St. Petersburg, Daytona, and Miami Beach, enhancing its market presence in Florida's growing cannabis industry.

Red White & Bloom Brands has announced that shareholders representing over 50 million Series II Preferred Shares have agreed to a lock-up term until April 24, 2022. This extension allows shareholders to maintain their rights, including a 5% annual dividend payable upon conversion. The CEO, Brad Rogers, emphasized the company's commitment to developing a premium brand strategy within the U.S. cannabis market, while ensuring long-term shareholder value. RWB aims to be among the top three multi-state operators in the cannabis sector, focusing on key U.S. markets.

Red White & Bloom Brands Inc. has appointed Christopher Ecken as Chief Financial Officer, effective October 2021. Ecken brings over 25 years of experience in the highly regulated spirits and wine industry, including significant roles at Brown-Forman. His expertise in global analytics strategy is expected to drive sustainable growth for the company. The transition comes as RWB aims for uplisting, contingent on safe banking legislation for the cannabis sector. CEO Brad Rogers emphasized the importance of Ecken's background in adapting to the rapidly evolving cannabis market.

Red White & Bloom Brands Inc. (RWBYF) announces the appointment of Colby De Zen to its board of directors, enhancing its governance with his extensive expertise in operational management and investments. De Zen, managing director of the De Zen Family Office, has significant experience in sectors such as real estate, technology, and cannabis. His role is expected to support RWB's expansion efforts in key U.S. markets, including Michigan and Florida. RWB aims to leverage his skillset to create shareholder value through operational efficiency and strategic growth initiatives.

Red White & Bloom Brands Inc. (RWBYF) is ramping up production at its Platinum Vape facility in Michigan to meet growing demand, expecting to produce over 450,000 vape cartridges per month starting November. The company has strengthened its balance sheet by redeeming $5 million in convertible debentures, eliminating a potential 8.8 million share issuance. Recent management changes aim to localize operations and enhance compliance across its various markets. The transition plan also includes waiving a $7.5 million earn-out payment, previously a liability.

Red White & Bloom Brands Inc. (RWBYF) has launched Phase 1 of its cultivation expansion strategy in Florida, targeting the $1.3 billion cannabis market. The initial build-out at its Apopka facility has been completed, with operations commencing on September 30, 2021. This facility projects annual revenues exceeding USD $10 million, producing 85 grams per plant. Future phases include the activation of growing pods and a larger indoor facility, expected to yield 10,000 pounds of dried flower per year and a market value of USD $30 million. The company anticipates strong patient demand for medical marijuana in Florida.

Red White & Bloom Brands Inc. (CSE: RWB, OTC: RWBYF) has completed the refinancing of US $18,620,000 debentures, replacing them with a new unsecured debenture totaling US $19,370,020. The new debenture accrues interest at 10% per annum, payable at maturity on January 21, 2023. The company aims to become a leading multi-state operator in the U.S. cannabis and hemp market, focusing on key states such as Michigan, Illinois, and California.

Red White & Bloom Brands Inc. (RWBYF) announces the appointment of Mr. Ryan Costello to its Board of Directors, effective upon regulatory approval. Costello, a former U.S. Congressman and public policy consultant, brings extensive experience in federal cannabis policy and regulatory law. His background includes serving on key congressional committees related to healthcare and cannabis. RWB aims to strengthen its market position in the U.S. cannabis sector, targeting major markets including Michigan, Illinois, and California.

Red White & Bloom Brands Inc has established a new production facility in Florida, built to GMP specifications, to meet the rising demand for cannabis derivatives. The medical cannabis market in Florida is projected to reach $1.5 billion in 2021 and could grow to $2.6 billion by 2026. This 4,800 square foot facility will support the production of edibles, including a proprietary line of chocolates, launching in Q4 2021. According to BDSA, the market for ingestible products has surged, with a growth of over 145% in the first half of 2021.