CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Closes on Acquisition of Florida Greenhouse

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has purchased a fully operational greenhouse with the purpose of advancing the company’s cultivation and production initiatives in Florida. The 45,000,000-square-foot greenhouse is located on 4.7 acres in Apopka. The company anticipates cultivating and harvesting in the new greenhouse by fourth quarter 2021. Red White & Bloom is currently building its own 114,000,000-square-foot facility, and the new greenhouse will provide near-term cultivation opportunities while that construction is underway. The company is focusing efforts on ensuring the new acquisition meets all compliance standards for a Q4 harvest. The company is also planning on branding its Florida medical dispensaries beginning in Q4 in addition to creating a consistent retail footprint and product line to align with the medical market in the state. “With such high patient demand in Florida, the Apopka facility will deliver the cultivation needed to meet our significant retail expansion goals throughout the state,” said Red White & Bloom CEO Brad Rogers in the press release. “It will also allow us to serve patients with the quality and consistency they deserve. We are very confident in our management team in Florida and more than pleased to see this expansion launch in Q4 this year.”

To view the full press release, visit https://cnw.fm/MyiVg

About Red White & Bloom Brands Inc.

Red White & Bloom Brands 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 major U.S. markets, including Michigan, Illinois, Florida, Oklahoma, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please 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.

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420 with CNW — Cannabis Boom in Michigan Creates Numerous Opportunities

Despite its youth and immaturity, America’s state-legal cannabis industry has been dubbed one of the fastest-growing sectors in the country. The sector has generated billions of dollars in revenue for businesses and provided jobs for hundreds of thousands of people. In addition, projections have the space pulling in $43 billion by 2025. Cannabis is a high-risk industry and potentially a high-reward industry, especially for companies that can weather the risks, and many businesses are looking to throw their hats into the ring.

Michigan, for instance, legalized recreational cannabis only one and a half years ago, and its large population coupled with favorable cannabis policies make it an increasingly attractive market. Since last April, Michigan’s recreational cannabis sales have exceeded $100 million, and cannabis sales are expected to surpass $1.2 billion this year. According to projections by the 2021 MJBizFactbook, recreational sales in Michigan are set to quadruple from around $500 million in 2020 to roughly $2 billion–$2.5 billion in 2025.

Presently, Michigan has an estimated 200 recreational cannabis stores, putting it at one dispensary for every 34,000 residents. According to Frank Colombo, the director of data analytics for Viridian Capital Advisors, the state has little market penetration and is still in a “process of consolidation.” As such, interested cannabis companies can pitch tent in Michigan’s recreational cannabis sector with relatively little competition, at least for the moment. In fact, a report that was recently released by the New York-based Cowen Group states that Michigan is home to one of the biggest cannabis markets in the country.

The state’s cannabis policies make its cannabis space enticing to businesses in the cannabis space. For starters, Michigan currently has unlimited licensing on a statewide basis, which has led to lower acquisition prices compared to states such as Illinois. This allows established businesses as well as new entrants to acquire other cannabis operators without having to break the bank. On the municipal level, however, the state has seen several municipalities opt out of launching legal markets. While more municipalities are expected to opt in over time, probably with licensing caps, limiting licenses will allow existing businesses to retain their market share and profitability for longer without having to contend with competition.

Thanks to an uptick in cultivation facilities, there are fewer cannabis flower shortages, and flower is more affordable than it was when Michigan first launched its recreational industry. Beginning Oct. 1, 2021, the state will also reduce its licensing fees from $25,000 to $7,500, which, coupled with cheaper cannabis flower, will reduce operational costs.

It goes without saying that cannabis companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) that have a presence in Michigan have contributed to making the industry successful.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Announces Q1 2021 Financial Results

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, today announced its 2021 first quarter financial results and subsequent events. “This was another great quarter for the company as we continued to see strong traction for our brands,” said Brad Rogers, RWB’s chairman & CEO. “We are building on that momentum and working towards finalizing our revised asset purchase of our Michigan investee to bring their revenue, as well as adjusted sales into IFRS revenue format before the end of this current quarter. Once complete, and the expansion of our Florida operations come on stream, we can finally report in our quarterly results the strength of what we have built and accomplished thus far.”

To view the full press release, visit https://cnw.fm/egQMZ

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.

NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://cnw.fm/RWBYF

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Releases Q4, FY 2020 Financial Reports

Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has reported fourth quarter and full year 2020 financial results and company highlights. The report noted that Q4 2020 adjusted sales totaled C$28.6 million, an increase of 290% over the third quarter, with fourth quarter 2020 revenue reaching C$15.7 million, an increase of 158% over the third quarter. Finally, full year 2020 adjusted sales topped more than $37.8 million with revenue coming in at $23.3 million. In addition, the announcement noted that RWB closed two significant acquisitions, completed its go-public transaction and established its first THC operations and brands, as well as raised more than $100 million to support expansion and operation efforts. In addition, Red White & Bloom announced that it has scheduled a conference call and audio webcast to provide an overview of the company’s 2020 and Q1 2021 operating results and 2021 outlook; the webcast will also include a Q&A session. Anyone interested can participate by calling (877) 705-6006 toll-free or (201) 689-8557 for international. “We set out at the beginning of 2020 with a three-year plan for our success,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “Our strategy was to establish a foundation for the overall company and identify the core states to operate in and a plan to scale in those states. We have set the foundation for our core states including Michigan, Illinois, Florida and California. In 2021 we look to expand through an asset light approach in other states, such as Arizona, and complete the integration of our M&A targets while gaining operational synergies from all we have accomplished over the last 18 months. For the balance of 2021 and throughout 2022, the company will focus on the continued growth of our topline revenue and bottom-line results through expansion of our house of brands that continue to gain momentum, fortification of our vertically integrated businesses, and the synergies from our M&A success.”

To view the webcast, visit https://cnw.fm/UUj31

To view the full press release, visit https://cnw.fm/G70HR

About Red White & Bloom Brands Inc.

Red White & Bloom Brands 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 major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please 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

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420 with CNW — Senator Files Bill to Protect Licensed Marijuana Extractors from Eviction

Although the past decade has seen America’s state legal cannabis industry experience major growth, federal law has consistently held the sector back. Cannabis is classified as a Schedule I controlled substance, and this classification has been a constant barrier for both businesses in the cannabis space and the clients they serve. Fortunately, an increasing number of lawmakers have noticed the plight of the cannabis sector, which has provided states with millions of dollars in tax revenue, and they have been working to give the space more protections.

After an affordable housing bill failed to advance in Congress last month, Senator Jeff Merkley again introduced a bill that includes a provision preventing landlords from evicting state-licensed people who manufacture cannabis extracts. The bill, whose language is identical to the bill filed last month, has a “just causes for eviction” section containing common reasons for eviction, including defaulting on rent and causing significant property damage. It also lists “manufacture of a cannabis extract” as a legal reason for eviction, adding that tenants who hold a manufacturing license under federal, state or tribal law are exempt.

However, the bill does not provide any protections for tenants who take part in other state-legal cannabis-related activities such as possession. Curiously, the bill contains language that states that manufacturing, delivering or possessing controlled substances is enough grounds for eviction. Since cannabis is technically a controlled substance according to federal law, some landlords could choose to defer to federal law rather than state law and evict tenants who perform any of the aforementioned actions.

The inclusion of language offering protections for individuals who take part in state-legal cannabis activities in an affordable housing bill will definitely make cannabis reform advocates happy, but it may very well be inconsequential. This is because eviction proceedings tend to be handled at the state level; the assumption is that courts would turn to state law when dealing with eviction cases that concern cannabis.

Additionally, the chances of an individual being licensed by the state to perform cannabis manufacturing activities at their premises are close to zero. As such, it is not clear just how impactful the provision for manufacturing licenses would be if the proposed policy becomes law.

The comprehensive housing bill, which contains the cannabis provision, aims to correct the pitfalls of America’s housing policies and funding by addressing systemic disparities and obstacles and ensuring every American, especially the most vulnerable, has an equitable outcome.

The entire cannabis industry, including companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), may regard the rolling back of restrictions on housing as a bonus in the drive to see the cannabis industry federally legalized and given equal treatment as other legal sectors.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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420 with CNW — Coalition Publishes White Paper Urging Feds to Legalize Marijuana

While America’s state legal cannabis industry has grown steadily, creating hundreds of thousands of new jobs and generating billions in revenue, federal law still classifies cannabis as a Schedule I controlled substance. President Joseph Biden has said that, while he supports medical marijuana and giving states the ability to decide how to treat cannabis themselves, he is not behind federal legalization of recreational cannabis. Even though Senate Majority Leader Chuck Schumer has said that he is working on federal cannabis legislation and will advance it with or without the president’s support, the Democrats’ window for passing federal cannabis reform is closing.

Consequently, a bipartisan coalition of advocacy groups and businesses has issued a white paper urging the federal government to legalize recreational cannabis. The 14-page white paper, published last week by the Cannabis Freedom Alliance, expressed the group’s frustration with President Biden’s stance on cannabis, which was recently witnessed after sprinter Sha’Carri Richardson was excluded from the U.S. Olympics team for using cannabis. Richardson, who reportedly used cannabis in Oregon, which allows adult use, was expelled from the team when her drug tests came back positive for cannabis.

Regarding the U.S. Anti-Doping Agency’s decision to invalidate the results of her 100 meter run at the Olympic trials and suspend Richardson for 30 days, Biden says “rules are rules,” adding that the question of the rules being changed is an altogether different subject. However, the inconsistencies between state and federal law, points out executive director of the Drug Policy Alliance Kassandra Frederique, leave people such as Richardson “stuck in the middle,” having to decipher unclear rules and often suffering the consequences for life.

The Cannabis Freedom Alliance advises removing marijuana from the Controlled Substances Act to resolve the issues caused by the inconsistencies between state and federal cannabis law. According to the white paper, the alliance hopes to establish a comprehensive regulatory structure that focuses on research, innovation and public safety; give the victims of the drug war, especially those with nonviolent cannabis related charges, a leg up in the legal market; and ensure the market has minimal barriers to entry, allowing both entrepreneurs and large companies an equal chance.

The coalition would also like to keep the tax burden on the cannabis market low to prevent customers from going to the illicit market for lower-priced products. This would deal the criminal enterprises behind the black market a major financial blow while ensuring the growth of the legal industry. Formed in April, the Cannabis Freedom Alliance includes the Global Alliance of Cannabis Commerce, Law Enforcement Action Partnership, Libertarian think tank Reason Foundation, criminal justice reform initiative Mission Green and Americans for Prosperity, which is backed by the Koch family.

The voices calling for federal marijuana policy reform are growing louder, and any reforms in that direction would greatly ease the regulatory and legal tightrope that cannabis sector players, such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), have to walk as they adhere to enabling laws at state level while being aware of the prohibition at the federal level.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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420 with CNW — House Committee Witness Urges Legislators to Make Bipartisan Visits to Cannabis Businesses

The legalization of cannabis has become popular in America, with 18 states having legalized the recreational use of the herb and another 13 decriminalizing its use. However, while Congress is still in disagreement about the herb, a recent visit from an investigative reporter may help move things along.

Amanda Ripley, the witness who graced a House Committee hearing, suggested visits to cannabis businesses by ideologically opposed legislators. Similar visits have happened in Canada, when MP Garnett Genius and Nathaniel Erskine-Smith visited a major producer of cannabis in 2017. This came right before the country legalized the herb for recreational use in 2018. Ripley explained that these visits, which would be one-on-one, would help encourage productive conversations between legislators and bridge political divides.

This approach may be useful in Congress, with the latest polls finding that a bipartisan majority of Americans were in favor of putting an end to cannabis prohibition. However, when the bill for legalization was advanced to the House and put to a vote, the partisan breakdown didn’t reflect the voters’ will, with half a dozen Democrats voting against the legislation and five Republican members voting for it.

Ripley pointed out that the marijuana episode on the “Political Blind Date” show provides examples of the various constructive conversations that could occur if elected officials in the United States engaged with each other on issues they didn’t agree on, while stepping out of their comfort zones. In that episode, MP Nathaniel Erskine-Smith, a member of the Liberal Party who not only backed an extensive drug decriminalization measure but also supports the legalization of marijuana talks with MP Garnett Genius, a member of the Conservative Party, on various topics including THC potency and tax revenue generated from legal cannabis sales.

In spite of their political differences, the two MPs agreed that marijuana did have medicinal value for a part of the population. Before their meeting, only medical marijuana was legal in Canada. Now Canada has legalized cannabis nationally.

And Canada isn’t the only country legalizing the substance. In Mexico, the Supreme Court annulled the prohibition of cannabis in a general declaration of unconstitutionality last week. It seems the United States still has a long way to go in order to get to where these countries are with regard to cannabis.

There is hope though, with Sen. Cory Booker, Chairman Ron Wyden of the Senate Finance Committee and Senate Majority Leader Chuck Schumer having recently revealed that they’re drafting a legalization bill that may soon be introduced to the floor. Furthermore, Chairman Jerrold Nadler of the House Judiciary Committee has also refiled his cannabis legalization measure dubbed the MORE ACT (Marijuana Opportunity, Reinvestment and Expungement Act).

Marijuana industry players in the U.S., including Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), may be hoping that if bipartisan visits to cannabis businesses can help move policy reforms along, the sooner such visits start, the better.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Announces Plans to Release Financial Reports

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, will be releasing two financial reports by the end of the month. The company announced plans to report its numbers for FY 2020, the fiscal year ended Dec. 31, 2020, after market close on July 22, 2021; the company will also release its third-quarter financial report for the period ended March 31, 2021, after market close on July 26, 2021. In addition, the company announced plans for a management conference call, scheduled for July 27, 2021, at 4:30 p.m. ET. More details regarding the call and how to participate will be released on July 22. In recent weeks, the company has replaced its previous auditor, MNP LLP, because of health issues with the auditor’s lead engagement partner. The company commended Macias Gini & O’Connell LLP, the new auditor, for its efforts in “completing an exceptionally complex and challenging audit with a very tight timeline,” according to the announcement. “The delay in completing the filing of the cocuments was due to MNP not completing its audit procedures in advance of the filing deadline.”

To view the full press release, visit https://cnw.fm/gq2Qu

About Red White & Bloom Brands Inc.

Red White & Bloom Brands 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 major U.S. markets, including Michigan, Illinois, Massachusetts, Oklahoma, Florida, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please 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

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420 with CNW — Stuff You Should Know About Legal Cannabis in Michigan

In 2018, the state of Michigan became the first state in the Midwest to legalize recreational cannabis. The legislation, which went into effect in December of the same year, is known as the Michigan Regulation and Taxation of Marijuana Act.

This move came a decade after voters in the state approved the Michigan Medical Marijuana Program. The program, which operates as a division in the state’s cannabis regulatory agency, is governed by different legislation and is detached from the agency’s medical and adult-use cannabis licensing division.

While this isn’t a prescription, the law requires that only a physician of osteopathic medicine and surgery or a medical doctor who has a current practice license in the state can sign the physician certification for a patient to qualify for the program. Additionally, the law governing the state’s medical cannabis program lists medical conditions that are eligible for the use of medical cannabis. The National Academy of Sciences’ Institute of Medicine has found that the plant is beneficial in treating and reducing nausea and pain as well as other symptoms linked to various debilitating medical conditions.

The main differences between recreational and medical marijuana can be observed in the amount and taxes paid, as taxes for recreational cannabis are higher. Either way, if users are planning to or are using either recreational or medical cannabis, there are a few things to keep in mind with regard to state law.

The law states that individuals aged 21 and above are allowed to process, store and possess no more than 10 ounces of cannabis and should not grow more than 12 cannabis plants for personal use. This is in addition to stipulating that individuals aged 21 and above are allowed to process, transport, purchase, consume, use and/or possess no more than 15 grams of cannabis concentrate and 2.5 cannabis flower ounces.

Additionally, drivers are not allowed to have more than 15 grams of cannabis concentrate or 2.5 cannabis ounces on their person. Drivers are also not allowed to consume cannabis while operating any motor vehicle and are also barred, along with their passengers, from smoking cannabis in the passenger area of a vehicle. In addition to this, passengers and drivers cannot transport cannabis into Canada.

The penalties for operating under the influence of cannabis are similar to those of operating under the influence of alcohol. Penalties include six points on an individual’s driving record, a license suspension, a $500 fine and three months in jail, among others.

It appears that the regulations established in Michigan aren’t such a big hindrance to the sector. This is because many companies, including Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), have established themselves in this market and are thriving.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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CannabisNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Launches High Times Branded Vapes Throughout Michigan

Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, today announced the successful launch of High Times branded vapes into the Michigan market. Building on RWB’s partnerships and the successful launch of High Times branded packaged flower and pre-rolls earlier in the year, the company is pleased to introduce the High Times branded vapes, offered as premium live resin and distillate cartridges. The High Times branded vapes and previously launched products are available at 22 of Michigan’s finest dispensaries, while the High Times branded product portfolio will be made available to a significant number of the 250+ dispensaries in the state in the second half of 2021. “As I’ve stated before, we look forward to bringing exceptional quality, price and experience through our house of brands and product lines to loyal consumers in Michigan,” said Brad Rogers, RWB’s chairman and CEO. “We have been able to utilize partnerships in Michigan to establish branded product sales and are currently in the final steps of establishing our own operations in Michigan to allow us to utilize all that we have learned and leverage the investments we have made to accelerate that growth.”

To view the full press release, visit https://cnw.fm/Gl9zS

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, Florida, California, Oklahoma, Arizona, and Massachusetts 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

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