InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Announces Q4, Full Year 2021 and Q1 2022 Results
August 2, 2022

InvestorNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Announces Q4, Full Year 2021 and Q1 2022 Results

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, today announced it has filed its 2021 audited financial statements, its 2022 first quarter financial statements and related 2021 and 2022 first quarter management’s discussion and analysis. With the update, the company highlighted certain full year 2021 and Q1 2022 financial results and select subsequent events. “After many significant sector challenges over 2020 and 2021, we are pleased to report that, by the close of Q1 2022, we were able to complete all of the acquisitions we had discussed over the previous two fiscal years, including Florida and Michigan, and we are now able to focus on our original strategy, which we feel is the most adaptable and will offer the best return for the company and stakeholders,” said Brad Rogers, CEO and chairman of Red White & Bloom. “With full operational control and a clear road map, Florida closed and certainty of our ability to complete the closing of the Michigan acquisition, we turned our attention to completing a multi-stage restructuring and ‘right-sizing’ of the business to leverage our strategy long term. This included exiting Illinois and the sale of our assets in that state, which enabled the company to pay off over $55 million of liabilities in Q2 of 2022 and reduce our operational and interest expenses by over $20 million per year. These reductions of liabilities and expenses will positively impact our results for fiscal 2022 commencing in late Q2 of this year.”

To view the full press release, visit https://ibn.fm/KQr8y

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, and Michigan. For more information about the company, visit 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

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(862) 930-1404

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).