VAUGHAN, Ontario, May 28, 2019 (GLOBE NEWSWIRE) — MichiCann Medical Inc., operating as Red White & Bloom (“RWB” or the “Company”), has signed an LOI to acquire the world’s largest indoor premium hemp facility, located in Granville, Illinois. In operation since 1978, the greenhouse has been granted its Hemp Grower License and Hemp Processor Registration from the Illinois Department of Agriculture.
According to the Brightfield Group: “CBD is growing faster than cannabis in the U.S. and the hemp-CBD market alone could hit $22 billion by 2022. It’s been flying under the radar but is set to explode, having profound impacts on CPG and Pharma.”
Anchored by the Illinois facility, RWB intends to establish large-scale production capabilities focused on hemp extraction and product manufacturing within the United States. Management’s experience in creating the first standardized cannabis production facility in Canada will allow it to establish this state-of-the-art Illinois facility as the bellwether for standardization of premium hemp CBD, and CBD-derived medicines and products.
- Family-owned 3,612,866 sq. ft. Greenhouse including 451,282 sq. ft. of production and warehouse facilities
- Over 231 acres of land
- 175 fulltime employees with over 400 workers at peak season
- Concrete floors
- Operable roof system
- Priva computerization of entire greenhouse
- Ebb and flood watering with 100% water recycling
“We continue with our plan to rapidly expand from our base in Michigan and invest in scaled operations across the United States as we bring together additional components of our Multi-State Operator strategy,” stated RWB CEO Brad Rogers. “We have been making investments in IP, formulations, and brands as well as finalizing terms on a number of other transactions for our CPG rollout later in 2019. We believe these efforts will allow us to expand our presence expeditiously and help position the Company to be one of the largest national players in the rapidly expanding U.S. cannabis market.”
About MichiCann Medical Inc.
MichiCann Medical Inc., operating as Red White & Bloom, a refined group of experts, pioneers, and visionaries, has elevated the cannabis industry’s standard of excellence with a proven track record of building profitable businesses. RWB plans to further expand from its first-mover advantage in Michigan and pursue opportunities in other states with high cannabis and hemp consumption. Expansion will include cultivation, processing, and manufacturing, along with retail distribution in both THC and hemp-based CBD products.
Source: Red White & Bloom
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