Red White & Bloom Brands (CSE: RWB) (OTC: RWBYF) today reported plans to increase cultivation capacity upon closing of the previously announced definitive agreement to enter the Florida cannabis market. According to the update, RWB has secured 30 double-wide fully enclosed cultivation pods that collectively provide approximately 19,000 square feet of operating space, with 14,400 square feet of canopy. Each unit is specifically designed and outfitted for premium cannabis cultivation. Once online, the units will have production capacity in excess of 7,000 pounds of flower annually and thousands of pounds of trim, with an estimated annual value in excess of US$40 million*. The pods will allow the company to immediately operationalize expanded cultivation capacity, as it drives to expedite the opening of additional medical marijuana dispensary locations and implements home delivery shortly after closing of the transaction. It is anticipated, as per RWB’s previous press releases, that this transaction will close in Q2 2021, subject to regulatory approval.
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About Red White & Bloom Brands Inc.
The company is positioning itself to be one of the top three multi-state 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 Florida, Illinois, California, Michigan, Oklahoma and Arizona 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.
*Based on $45 per 1/8 ounce estimated sale price per: www.FLDispensaries.com/Florida/Dispensary/Prices.
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