- Red White & Bloom completed the build-out of its Apopka facility – phase one of a development strategy – and immediately commenced cultivation following the receipt of a cultivation license
- The initial licensed area is projected to generate annual revenue in excess of $10 million
- The Apopka facility will support phase two of the strategy, which entails the activation of thirty customized, self-contained growing pods
- Phase three will involve the activation of a 113,000 SF facility for cultivation located in Sanderson
Upon closing the acquisition of an operational 45,000 square-foot greenhouse situated on 4.7 acres of land in Apopka, Florida in early August (https://cnw.fm/I3atY
), the team at Red White & Bloom Florida LLC, a Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF)
subsidiary, embarked on the rapid development of the facility to ensure all compliance standards are achieved. The rapid development – build-out of Apopka – would constitute phase one of an aggressive three-phase development strategy for its Apopka and Sanderson facilities.
In an October 12 press release, RWB announced that it had completed phase one of the strategy. In addition, having received regulatory approval to begin cultivation toward the end of September, RWB commenced operations on September 30 (https://cnw.fm/vNg1Y
The initial licensed area in Apopka is capable of producing 85 g of flower per plant, translating to projected annual revenue in excess of $10 million. With a projected Q4 2021 harvest schedule in the facility, RWB has hired additional cultivation specialists specifically for the Florida project, fulfilling an earlier projection that the center would add tens of additional employment opportunities for the local community when fully operational.
“We brought this site into production ahead of forecast and ahead of budget, and I’m very proud of our Florida team,” stated RWB CEO Brad Rogers. “Despite being relatively new players in the Florida market, I feel we have the most talented team of PhDs and horticulturalists, and an incredible grow infrastructure to bring the highest quality products, rich in terpenes and cannabinoid content, to some of the best retail locations in the state starting Q1 2022.”
The Apopka facility will supply RWB’s phase two of the strategy, which entails activating thirty 16’ by 40’ customized, self-contained growing pods. First announced on April 6, the pods are part of the company’s plans to increase cultivation capacity by collectively providing about 19,000 square feet of operating space, with 14,400 square feet of canopy. They will also provide a unique opportunity for RWB to produce ultra-premium products for the Florida market (https://cnw.fm/Zw81p
With a targeted Q4 launch, the pods are expected to yield nearly 10,000 pounds of dried flower annually, representing a current market value of $30 million. The pods will be deployed at the Sanderson Property, which covers over 15 acres of land and houses a 113,000 square-foot facility for cultivation and processing. Notably, the activation of the latter facility constitutes the company’s third phase of the strategy.
As a company committed to becoming the superior and most recognizable cannabis company in the United States, RWB’s ethos covers retail, brands, and cultivation. In Florida, where it has already commenced cultivation, the company earlier announced that it would brand its Florida medical dispensaries beginning in Q4 and is developing a consistent retail footprint and product line to align with the medical market in Florida. RWB also boasts premium THC and CBD brands, including Platinum Vape, HighTimes, and more (https://cnw.fm/0ZM75
For more information, visit the company’s website at www.RedWhiteBloom.com
NOTE TO INVESTORS:
The latest news and updates relating to RWBYF are available in the company’s newsroom at https://cnw.fm/RWBYF
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