Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has entered into binding letter agreement with Aleafia Health Inc. (TSX: AH) (OTCQB: ALEAF)to acquire Aleafia and its subsidiaries in a business combination transaction. Calling the acquisition a “transformative milestone for RWB,” company officials noted that the transaction will provide a well-established distribution beachhead for RWB and its premium Platinum brand into the Canadian market while opening up the larger U.S. market for Aleafia’s brands via RWB’s distribution and retail channels; both companies will be leveraging their respective competencies in the areas of cultivation, procurement, product development, and sales and marketing in ways that will enhance the profitability of the combined company.” According to the announcement, the combined company is expected to represent C$138 million in trailing distribution and retail revenue from the Canadian, United States and European cannabis end markets as well as a combined gross profit of $39 million before fair value adjustments. The announcement noted that the two companies together will service an estimated 3,000 North American retail locations. “The intended acquisition of Aleafia expands our footprint to the largest federally legal cannabis market globally,” said Red White & Bloom Brands CEO and directorBrad Rogers in the press release. “Combining our award-winning brands and IP with Aleafia’s proven cultivation, manufacturing and distribution capabilities creates one of the most dynamic cross-border companies in the industry. We continue to focus on delivering significant value to our shareholders and believe this transaction aligns with that commitment.”
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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, Missouri and Michigan. For more information about the company, please visit www.RedWhiteBloom.com.
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