- The new recreational license award marks the final major regulatory hurdle for RWB to complete its long-awaited Michigan acquisition, which includes substantial cannabis retail, cultivation and real estate assets boasting 2020 revenue of USD $69 million, which was excluded from RWB’s 2020 financial statements
- Having both medical and recreation approval allows RWB to complete its pending and fully-paid for Michigan acquisition
- Operating assets to be brought onto RWB’s income statement and balance sheet include: 18 Michigan dispensaries (8 operating; 2 historically operating; 8 ready-to-open); 4 cultivation facilities (2 indoor; 1 outdoor; 1 retrofit-ready indoor); significant company-owned real estate holdings
American super state operator Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) released huge this morning regarding its Michigan operations. Through Red White & Bloom’s wholly-owned subsidiary, RWB Michigan, LLC. and in accordance with the Michigan Regulation and Taxation of Marihuana Act (MRTMA) licensing provisions, RWB has now secured the necessary Michigan adult-use prequalification status required to move forward with its Great Lakes State business plan.
The Marijuana Regulatory Agency (MRA) approval officially gives RWB the green light to press forward with its full Michigan operational strategy as well as complete the licensing process for its intended facilities.
Commenting on this morning’s announcement, RWB Chairman & CEO Brad Rogers stated:
Read More: Red White & Bloom Posts $32.7 Million in Q1 2021 Adjusted Sales
Rogers elaborated further, stating:
Red White & Bloom (CSE: RWB) Stock Chart
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- 🇺🇸 USA – OTCQX: RWBYF
With U.S. Pot Stocks the Hot Theme of 2021, Here’s Why Red White & Bloom Could Be One of the Cannabis Sector’s Top Performers
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