Red White & Bloom’s Platinum Vape Expanding into Arizona
Red White & Bloom Brands has announced the expansion of its Platinum Vape brand into Arizona through agreements with a third-party licensed MSO. The company will introduce its products in a 6,000 square foot facility this quarter. With Arizona's cannabis market poised for growth, projected to reach $341 million in its first year post-legalization, RWB is positioning itself as a significant player in the U.S. cannabis sector. The company aims to be among the top three multi-state operators in the cannabis market.
- Expansion of Platinum Vape into Arizona expected to boost brand presence in a rapidly growing market.
- Arizona's legal cannabis market projected to generate $341 million in revenue within the first year post-legalization.
- Dependence on the passage of Prop 207 for market entry and future revenue growth.
- Potential risks associated with regulatory changes and competition in the cannabis industry.
- Arizona’s medical market is expected to reach sales of up to
- Platinum’s products are currently sold within Michigan, California and Oklahoma through over 750 locations -
TORONTO, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is pleased to announce that Platinum Vape (“Platinum” or “PV”) has entered into agreements with a third-party licensed MSO to launch Platinum products in Arizona later this quarter.
PV has entered into a services agreement and sublease with a leading MSO in the State of Arizona. Under these agreements, PV has subleased a licensed facility that encompasses approximately 6,000 square feet of space and expects to see PV branded products in the Arizona market this quarter.
Chairman & CEO Brad Rogers stated, “Platinum continues to execute on their expansion plans into a market that I expect to be in the top 5 in the US. The Platinum brand is quickly becoming recognized as the market leader in quality, safety and user experience. Rogers further added, “Arizona isn’t only getting a great brand and incredible product, they’re getting George, Cody and the entire team at PV’s solidarity and selfless commitment to making the best possible cannabis products.”
New Frontier Data estimates that with a population of roughly 7.4 million, Arizona has nearly 1.2 million cannabis consumers in total (i.e., legal or illicit). Should Prop 207 pass, Arizona’s legal adult-use market is projected to generate
About Red White & Bloom Brands Inc.
The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Massachusetts and California with respect to cannabis, and the US and internationally for hemp-based CBD products.
For more information about Red White & Bloom Brands Inc., please contact:
Tyler Troup, Managing Director
Circadian Group IR
IR@RedWhiteBloom.com
Visit us on the web: www.RedWhiteBloom.com
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Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the implementation of the Company’s business plan including Platinum’s expansion plan into Arizona and its ability to launch Platinum products in Arizona later this quarter. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, the potential for conflicts of interest among certain officers or directors, and the volatility of the Company’s common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
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FAQ
What is the significance of Red White & Bloom's expansion into Arizona?
When will Platinum Vape products be launched in Arizona?
What are the projections for Arizona's cannabis market?
What are the risks associated with Red White & Bloom's business strategy in Arizona?
What does the agreement with the MSO involve?
