- Red White & Bloom Signs Binding Letter of Intent to Acquire 100% of Platinum Vape
- Platinum Vape Boasts an Annualized Revenue Run Rate of Over USD $70 Million and EBITDA of Between $17.5 Million to $21 Million
- Platinum Vape Currently Has its Premium Products, Including Vapes, Flower, Edibles and Pre-Rolls in Over 700 Retail Locations in Michigan, California and Oklahoma
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced the signing of a binding LOI to acquire a group of California-based companies operating under the name Platinum Vape.
The Platinum deal, which is expected to officially close this quarter, is the first acquisition by Red White & Bloom since the company went public. The acquisition also marks RWB’s entry into California, furthering the company’s strategic expansion plan.
Platinum Vape’s lineup of premium products boasts an impressive 84% approval rating on WeedMaps and is currently sold at over 700 retail locations throughout Michigan, California and Oklahoma.
“George and Cody, the founders and operators of Platinum Vape, are visionaries in the cannabis market and have done an incredible job in building the pre-eminent vape company in the United States through commitment to quality, education, and the communities they serve. One of the things that struck me is the balance they have achieved in running a profitable, successful business, which will add tremendously to RWB’s top and bottom lines, while maintaining their commitment to supporting social issues, both financially and through awareness with the REACT program, they established. As part of the RWB family, I look forward to supporting the growth of Platinum and the tradition of excellence established by Platinum and the incredible people that have made them a success,” stated Brad Rogers, Chairman & CEO of Red White & Bloom.
Source: Houseofplatinum.com
Platinum Vape was founded nine years ago by the father and son duo, George and Cody Sadler. Based on the principles of quality, hard work and customer service, the Sadler’s grew the business with no outside investors into one of the most successful and storied brands in the cannabis space today. Along with all the company’s success came a plethora of media coverage. Below you’ll find a handful of the most notable articles:
- Blazing Sadlers: The Incredible True Story of a Cannabis Family
- George Sadler Co-Founder of Platinum Vape Gets Gnarly with 5 Questions
- This ‘Band of Brothers’ Works Together to Channel Cannabis Profits to Wounded Veterans
- Family-Run Platinum Strikes Gold in the Cannabis Market with Financial Discipline
“We at Platinum Vape are excited to have done such an amazing deal to integrate PV into the RWB family. Cody and I have been building the business for nine years so far and feel that RWB is the best place to continue not only the growth of PV for us but for our family as well. We couldn’t be happier with our decision,” commented Platinum Vape Founders George and Cody Sadler.
For more information on the deal’s terms and conditions, please view RWB’s official press release here.
Learn More About Platinum Vape: Website | Podcast | Instagram | Twitter | YouTube | LinkedIn
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
RWB Stock Price Action & Chart
Shares of Red White & Bloom’s CSE listed RWB stock closed Wednesday’s trading session at $1.18 per share, up 1.72% on the day. RWB’s American OTC Markets listed RWBYF stock surged 8.22%, closing the day at $0.92.
Source: Barchart
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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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