Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) has been strengthening its revenue streams in the states where it operates, particularly in Michigan, Florida and California of late, while also working to deal with its debt to make it more long-term feasible, announcing recently that it has eliminated several million dollars’ worth of liabilities and annual expenses. “The acquisition earlier this year of a 15,000-square-foot manufacturing, processing and distribution facility as well as properties owned by PharmaCo Inc., in Michigan, plus full licensing for manufacturing both medical and adult-use cannabis products in the state, assured RWB’s efforts to become fully vertically integrated and to expand the reach of Platinum Vape,” notes a recent article. In an April 20 announcement, RWB noted its intention to “eliminate an intangible asset of about $77 million as well as a license liability of $60 million from its balance sheets following restructuring of its debt while reducing ‘well over $100 million of liabilities without any dilution to our shareholders,’ a continuation of efforts since last year to cut debt.” Of the strides RWB has achieved, the recent article quotes CEO Brad Rogers as saying, “We are very pleased with the significant balance sheet and operational improvements we have made in a relatively short period of time.”
To view the full article, visit https://cnw.fm/S7E1L
About Red White & Bloom Brands Inc.
Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Illinois, Oklahoma, and Michigan with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. For more information about the company, visit www.RedWhiteBloom.com.
NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://cnw.fm/RWBYF
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)
For more information please visit https://www.CannabisNewsWire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CannabisNewsWire is part of the InvestorBrandNetwork.
