Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has completed a management transition at Platinum Vape (“PV”) LLC and a group of companies acquired earlier this year. In addition, RWBYF has settled all additional PV acquisition purchase price consideration and redeemed $5 million of convertible debentures. According to the announcement, Red White & Bloom noted strong demand in Michigan and California is outpacing its supply of PV brand offering and stated that it has made expanding its PV brand a top priority; the company anticipates increased production to reach more than 450,000 PV vape carts per month by November. “Platinum Vape experienced unprecedented growth over the last couple of years, and our acquisition of PV last year was a watershed event for RWB,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “In addition to the current changes, we expect the further transition for management of the PV segment into a state-specific focus will allow for the expansion of the brand to each state in which RWB operates, while facilitating compliance for the regulatory and marketing nuances that are unique to each jurisdiction.”
To view the full press release, visit https://ibn.fm/3HIeL
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, 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 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
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