Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, through its wholly owned subsidiary RWB Michigan LLC, has closed on the acquisition of PharmaCo Inc. The acquisition, which was originally announced in 2020, brings an extensive list of assets to RWBYF, including 21 medical and adult-use cannabis licenses, eight fully operating dispensaries with five dually licensed, two operational indoor cultivation facilities totaling more than 30,000 square feet, one municipally licensed 10-acre outdoor cultivation facility ready for the 2022 season, two ready-to-open dispensaries, and22 owned properties for potential additional cultivation and dispensary locations. With the acquisition, Red White & Bloom also becomes fully licensed and integrated from seed-to-sale for medical and adult-use cannabis in one of the top markets in the country; Michigan reported an estimated $1.79 billion in cannabis sales last year. “I’m pleased to announce that we have closed on the PharmaCo acquisition and now control all aspects of our Michigan operations,” said Red White & Bloom chair and CEO Brad Rogers in the press release. “This is a major milestone for RWB and its shareholders as we continue to execute key components of our growth strategy and build our house of brands across our core markets, as promised. We are now in the driver’s seat on over 20 assets across Michigan — one of the largest and fastest growing cannabis markets in the country. . . . As we take full control of our Michigan operations from seed- to-sale, our anticipated 2022 initiatives include extending our branded product lines, updating our dispensaries to heighten the customer experience, creating supply chain efficiencies and growing revenue and profitability.”
To view the full press release, visit https://ibn.fm/h0jhq
About Red White & Bloom Brands Inc.
Red White & Bloom Brands is positioning itself to be one of the top-three multistate cannabis operators active in the U.S. legal cannabis and hemp sectors. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Massachusetts, California and Arizona with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please 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. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
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.