Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) reported a 93% year-over-year revenue growth from $6.1 million in Q3 2020 to $11.8 million in Q3 2021. According to RWB chairman and CEO Brad Rogers, the company made excellent progress in laying additional building blocks in its core operating states of Florida, Michigan and California to become more vertically integrated “where it will be most profitable.” In Florida, the company’s operations include active cannabis cultivation sites, an operational processing facility and a dispensary. In Michigan, RWB expects to be vertically integrated upon closing a pending acquisition of an investee whose Michigan facilities include active and planned dispensaries, cultivation sites and company-owned real estate holdings. A recent article quotes Red White & Bloom CFO Chris Ecken as saying, “RWB is being very strategic in pursuing vertical integration only when there is value to be added. We aim to be asset light and brand rich. Our strategy is to support the brands in the most profitable way. As RWB integrated vertically in multiple states, we anticipate that our margins will dramatically increase, enabling us to move toward profitability.”
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About Red White & Bloom Brands Inc.
The company is positioning itself to be one of the top three multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California 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.
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