- The Deal Combines the Largest Midwest Cannabis Operation Boasting 350,000 Transactions Per Year with the World’s Most Iconic Marijuana Brand for Over 46 Years
- With the Deal Complete, Red White & Bloom Secures the Exclusive Rights for the High Times Branded Locations and Cannabis Brands for Michigan, Illinois and Florida
- RWB Also Locked Down the U.S. Nationwide Rights to the High Times Hemp-Derived CBD Brand Culture
Red White & Bloom Brands (CSE: RWB) (OTC: TDRYD) announced the closing of its previously announced deal to acquire the licensing rights for the branding of High Times dispensaries and High Times cannabis-based CBD and THC products in the States of Michigan, Illinois and Florida. RWB will also acquire the rights to the branding of High Times hemp-derived CBD products nationally in the United States under the Culture brand name.
As per the terms of the agreement, RWB has acquired the rights to exclusively brand both medical and recreational dispensaries and cannabis products within the States of Michigan, Illinois and Florida. RWB plans to sub-license to its investee in Michigan for its 18 planned and operational dispensaries, to be rebranded as High Times stores and allow the investee to create and sell cannabis-derived products both within their own locations as well as to third parties in Michigan.
Source: Red White & Bloom
“Closing this deal with the only real iconic brand in cannabis and working alongside the first-class people that come with it, is just the beginning of another 45-year journey that will define RWB and High Times in this chapter of history as the best-in-class for generations to come,” stated Red White & Bloom Chairman and CEO, Brad Rogers.
The definitive agreement includes RWB securing the rights from HT Retail Licensing, LLC to Culture for the branding of CBD and whole hemp flower products nationally in the United States. Initial plans are to grow and manufacture these best-in-class products from its massive 3.6 million square foot facility in Illinois.
In addition to dispensaries becoming High Times branded destinations, RWB plans to introduce High Times branded products including flower, vapes, tinctures, topicals, and edibles through both owned and other third party outlets, subject to the licensing agreements for each respective state.
“Let’s Make America Dope Again,” added Rogers.
For additional details and full terms related to RWB’s transaction with High Times, please refer to the company’s official press release here.
RWB Stock Price Action & Chart
Shares of Red White & Bloom’s CSE listed RWB stock closed the week on a high note finishing Friday’s trading session up 11.83% at $1.04 per share. RWB’s U.S. listed TDRYD shares closed the day at $0.765, up 11.59%.
Source: Barchart
Investor Research Links:
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U.S. Listing | OTC: TDRYD- *U.S. symbol expected to change to from ‘TDRYD’ to ‘RWBYF’ in the coming days
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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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