Red White And Bloom Brands - RWBYF stock
Red White & Bloom Brands Inc (OTCQX: RWBYF, CSE: WB), previously known as Tidal Royalty Corp, is a Canada-based multi-state cannabis operator. The Company focuses its business in United States markets, including Michigan, Illinois, Massachusetts, Arizona, and California. Apart from cannabis, Red White & Bloom Brands Inc also has hemp-based cannabidiol (CBD) products in its product line. Its brands include High Times, Mid-American Growers, Platinum Vape, and PV Wellness. It also provides capital solutions to companies in the United States for the legal cannabis industry across industries, including cultivation, processing, and distribution. Through its subsidiary, RWB Michigan LLC, the Company operates a manufacturing and distribution facility in Warren, Michigan. Its portfolio includes gummies, chocolates, and premium cannabis flowers. The Company focuses on manufacturing medical and adult-use cannabis products.[1]
The management team of Red White & Bloom Brands Inc includes Brad Rogers as founding chairman and CEO. Brad was a team member that created one of the world's first commercially sized medicinal cannabis manufacturing plants. He then became the President of one of Canada's largest licensed cannabis producers, the first G-7 country to legalize cannabis for both medicinal and recreational purposes. Both were very successful, with a total market capitalization of $2 billion.[2]
Red White & Bloom Brands Inc has several acquisitions under its name, including a takeover of Michigan marijuana company, PharmaCo in July 2020. However, Red White & Bloom Brands Inc's latest acquisition has been Platinum Vape, for a total sum of $35M. Red White & Bloom will issue 37 million units containing one common share and one convertible preferred share in RWB.[3]
Red White & Bloom Brands Inc projected a market revenue of 23.34M in the fiscal year 2020, which is a significant improvement from only 284.36K in 2019. Similar to revenue, a total asset owned by Red White & Bloom Brands saw an upward trend improving from just 22.33K in 2017 to a whopping 439.13M in 2020.[4]
On April 14, 2022, Red White & Bloom completed the sale of its Granville, Illinois greenhouse, accompanying real estate, and some greenhouse equipment to New Branches LLC of California, an arm's length buyer, for $56.1 million in cash. The firm has returned its secured lender $51.7 million from the proceeds, as well as some other incurred liabilities totaling roughly $3.8 million, in conjunction with the transaction. The repayment covers nearly 80% of the outstanding sum owed to its secured lender and saves the corporation $6.2 million in yearly interest costs. RWB is working with the Granville buyer to make recruiting the Granville facility personnel as easy as possible.[5]
It is important to note that as a result of delays to its audit, Red White & Bloom Brands Inc's annual financial statements. And accompanying management's discussion, analysis for the fiscal year that ended in December 31, 2021 (the "Annual Filings' ') were not finalized by May 2, 2022, the filings due date. The British Columbia Securities Commission approved the Company's application for a management cease trading order (the "MCTO").[6]
The main competitors of Red White & Bloom Brands include (AORE) (AORE), Aareal Bank (AAALF), Acom (ACJJF), AEON Financial Service (AEOJF), Ashtead Group (ASHTF), Atrium Mortgage Investment (AMIVF), Element Fleet Management (ELEEF), EML Payments (EMCHF), Firm Capital Mortgage Investment (FCMGF), and Gepco (GEPC).[7]
- ↑ Reuters
- ↑ Red White & Bloom Brands official website
- ↑ Coin Base
- ↑ Market Watch
- ↑ Yahoo Finance
- ↑ Yahoo Finance
- ↑ Market Beat
OTC Symbol: RWBYF
