- With products already available in Michigan, California and Oklahoma, RWB’s Platinum Vape is set to enter Arizona and Illinois in 2021
- Following the Arizona launch, Platinum Vape products will be available in 5 of America’s top 10 revenue generating states, with combined 2020 sales of over $7.6 billion
- Further solidifying its place at the top of the cannabis industry, Platinum’s ultra-premium products continue to rack up awards, with PV earning two more awards for products in its THC gummies and chocolates categories
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced this morning that Platinum Vape (PV), a wholly-owned subsidiary of RWB, has been given the green light to move forward with its Arizona launch. PV received word from the company’s MSO partner that it secured the necessary regulatory approval to proceed with the planned Arizona expansion.
The initial Arizona launch will see Platinum Vape release a strategic assortment of its popular vape products via 16 dispensaries across the state. PV’s inaugural Arizona product lineup will include a variety of Indica, Sativa and Hybrid vape cartridges. PV will also offer cartridges in various CBD:THC ratios.
Both RWB and PV proclaimed that, while expanding their product portfolio, the companies will “remain committed to giving back to the communities they serve with targeted programs that align with our core values of championing social justice, diversity and inclusion.”
“We can’t wait to get this horse out of the gate and make Platinum a household name in this enormous market. As cannabis commoditizes, brands will ultimately endure and thrive in the long-term. It is our intention to methodically launch Platinum in more and more markets as strategic opportunities present themselves while growing and solidifying our vertical cannabis business in the Midwest,” commented RWB Chairman & CEO Brad Rogers.
Platinum Vape, founded by the father-son duo of George and Cody Sadler, has grown from humble origins into one of America’s premier providers of ultra-premium THC and CBD-based cannabis products.
Long renowned as one of the industry’s leading vape suppliers, PV has expanded its product portfolio. The company quickly gained recognition from the market and won awards for its new product lines. Recently, PV won the “Thrillist Best of 2020 Edible Award” for its Baked Apple Pie Gummies as well as the “Farmers Cup 2nd Place Award” for the company’s Raspberry Cheesecake Chocolate Bar.
As Platinum Vape continues its American expansion into new state markets, the award-winning company currently offers a robust lineup of products, including premium cannabis flower, vapes, darts, gummies, and chocolates.
RWB Stock Price Action & Chart
Shares of Red White & Bloom’s CSE listed RWB stock closed Friday’s trading session at $1.75 per share, up +1.74% on the day. Following RWB’s recent breakout, which saw the stock reach a new 52-week high of $2 per share, RWB stock has pulled back, providing investors with an excellent “Buy the Dip” entry opportunity.
Currently, RWB stock is consolidating beautifully into a Bull Pennant chart formation and appears spring-loaded for another large move to the upside. With the cannabis sector in the midst of a very bullish uptrend, look for RWB’s consolidation period to be short and for RWB stock to break out again, sooner than later.
South of the border, shares of RWB’s American-listed RWBYF stock jumped another +4.44% on Friday, closing the day at $1.41 per share.
This U.S. Cannabis Stock Appears to Be Way Undervalued and May Actually Benefit From a Second Wave of the Pandemic
Red White & Bloom is a paid client of The Cannabis Investor. The Cannabis Investor holds a position in RWB.
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