CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), Acreage Holdings Inc. (CSE: ACRG) (OTCQX: ACRHF) Complete Sale of Note

June 14, 2021 13:43:47
Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, and Acreage Holdings (CSE: ACRG, ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF) have announced additional information about the sale of a $28 million promissory notes that Acreage received as consideration for the previously announced sale of its Acreage Florida subsidiary to RWBYF. A multistate operator of cannabis ‎cultivation and retailing facilities in the United States, Acreage Holdings announced that it has completed the sale of the promissory notes. The notes, which are due from Red White and Bloom Brands, were sold to Viridescent Realty Trust Inc. for $26 million in total cash proceeds, which is in the upper range of the estimated fair market value of the notes. The announcement noted that the proceeds from the sales will be used to repay IP Investment Company LLC as part of a previous credit agreement. “The sale of the promissory notes that we received as consideration for the sale of our Florida operations, as well as the use of these proceeds to extinguish other debts of the Company, represent an important next step in strengthening our balance sheet,” said Acreage CFO Steve Goertz in the press release. “As we have previously communicated, Acreage remains focused on our three key strategic objectives — driving profitability, strengthening our balance sheet and accelerating our growth in our core markets.” To view the full press release, visit 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 sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Florida, Massachusetts, Arizona and California, 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 NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: Do you have questions or are you interested in working with CNW? Ask our Editor CannabisNewsWire (CNW) Denver, Colorado 303.498.7722 Office CannabisNewsWire is part of the InvestorBrandNetwork.