With Only 22 Licensed Operators and 2020 Cannabis Revenues Topping USD $1.2 Billion, Florida’s Burgeoning Medical Marijuana Market Presents An Excellent Expansion Opportunity for RWB and its Shareholders
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced on Thursday that the Florida Department of Health, Office of Medical Marijuana Use has approved the company’s previously announced deal to acquire Acreage Florida from Acreage Holdings (CSE: ACRG.A.U) (OTCQX: ACRGF) (FRA: 0VZ).
According to recent reports, Florida is home to one of the strongest medical cannabis markets in the United States, boasting 2020 marijuana revenue of more than USD $1.2 billion. The Sunshine State remains a limited license state with only 22 licensed operators.
Today’s announcement moves Red White & Bloom one step closer to closing the Acreage Florida deal. Moving forward, the acquisition remains subject to several customary closing conditions, which include approval from regulators and the Canadian Securities Exchange (CSE).
RWB Stock Price Action & Chart
Shares of Red White & Bloom’s CSE listed RWB stock closed Thursday’s trading session at $1.50 per share, up +2.74% on the day. The company’s American listed RWBYF shares finished the day up +1.68% at $1.21 per share.
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Red White & Bloom is a paid client of The Cannabis Investor. The Cannabis Investor holds a position in RWB.
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