- 30 growing pods add 19,200 square feet of space that will generate $ 30 million in revenue per year.
- Sanderson, FL – RWBFL’s first edibles plant launched that will produce milk, dark and white chocolate bites with unique flavor profiles.
TORONTO and APOPKA, Fla., November 4, 2021 (GLOBE NEWSWIRE) – Red White & Bloom Brands Inc. (CSE: RWB and OTCQX: RWBYF) (“RWB” or the “Company”), a multi-state cannabis company operator and house of premium brands, has officially entered phase 2 of its expansion plan in Florida. The plan is ahead of schedule with the delivery this week of 30 modular grow pods to Red White & Bloom Florida LLC (“RWBFL”), a subsidiary of Red White & Bloom Brands, at its Apopka grow site, in Florida. Phase 2 began with the commissioning and approval by OMMU of five pods which were subsequently loaded and grow plants. RWBFL is quickly tracking the remaining 25 pods and expects them to be up and running no later than December 1. The pods provide an additional 19,200 square feet of indoor grow space that will produce high quality flowers.
“Our Red White & Bloom Florida team was on time, on target and on budget with executing every step of our aggressive three-phase development strategy for our two grow centers in Florida,” said Brad Rogers, CEO by Red White & Bloom. Flowering. “With the delivery of the grow pods and the planned launch date of December 1, we are ahead of schedule and on track to add $ 30 million in revenue per year through pods. Coupled with our cultivation and transformation at Sanderson, the additional product will ensure Red White & Bloom has the necessary inventory to meet inventory requirements for our HT Medical Cannabis dispensary in Springhill and for the next three dispensaries opening in the first quarter. 2022. The locations of the three dispensaries are St. Petersburg, Daytona and Miami Beach.
Rogers added, “This team is operating like a well-oiled machine and simultaneously laying the groundwork for future expansion at Sanderson and other strategic locations RWBFL is pursuing statewide. “
RWBFL took it a step further on November 2, with the production of its first batch of chocolates from its new edibles kitchen in Sanderson. The staff, with an innovative and unique approach to the new line of chocolates, have produced some of the best chocolates in the state and intend to expand rapidly into other edible SKUs in the very near future.
RWBFL has made huge strides with the launch of its 45,000 square foot greenhouse and implemented a proven cultivation process at Apopka, where half of the greenhouse is used for the production of automatic flowers for biomass to support the future RWBFL mining operation. The other half is intended for mothers, clones and vegetative operations of the Company’s proprietary genetic strains.
“We have nurtured our strains to produce high-quality flowers in the Florida climate while producing high yields, industry-leading THC percentages and superior terpene content,” noted Jim Frazier, director. General of RWB Florida. “Cultivation Modules provide us with rapid time-to-market capabilities that are necessary for RWBFL to meet and exceed expectations for profitable revenue generation in early 2022.”
Key phases of RWB-Florida’s development:
- Phase 1- Completed – Construction of the Apopka greenhouse. Received regulatory approval to begin operations on September 29, 2021. Growth began September 30, 2021 with expected annual revenue exceeding US $ 10 million.
- Phase 2 – Installation and commissioning of the first five pods. Received OMMU approval on October 22sd and loaded the first two pods on October 27e. Each pod will produce 63 lbs. of salable product per harvest. The 30 pods will produce 10,000 pounds of high-quality flowers per year, generating an additional $ 30 million in income.
- Phase 3 – On schedule – Additional cultivation capacity at Sanderson. Build the remaining space at Apopka so that RWBFL maximizes both facilities to generate profitable revenue.
To facilitate the aggressive growth and harvest schedule expected at the Apopka facility, RWBFL has recently hired many very talented growers and is developing a large and diverse workforce. RWBFL will expand the current team from 15 to 25 by the end of the year and expand to 50 by the end of the first quarter of 2022. Prospective employees can view job postings on LinkedIn https: / /www.linkedin.com/company/redwhitebloomus/jobs/ and submit their resumes and cover letters via [email protected]
“Red White & Bloom Florida brings together an exceptional team that continue to meet all challenges and achieve all goals as we strive to achieve our primary goal of aggressively expanding our sites and producing high quality products and profitable operations, ”said Frazier. “We have received excellent support from OMMU, local government and the community, including the Chamber of Commerce, as we expand our Apopka facility. We are delighted to welcome some very talented and experienced cannabis specialists from the Orange County area to our team. Together, we will build a successful operation that will benefit this community and the families of our employees, improve the quality of life for medical cannabis patients, and increase shareholder value. “
Florida’s medical marijuana industry is the third largest in the United States and generated nearly $ 1.23 billion in taxable sales in 2020, according to Arcview Market Research, which predicts the industry could generate $ 6 billion in sales in Florida by 2030. The recently released 2021 MJBizFactbook Florida medical marijuana sales will hit $ 1.3 billion in 2021 and nearly $ 2 billion annually by 2025. (Source: Florida Trend)
About Red White & Bloom Brands Inc.
The Company is positioned to be one of the top three multi-state cannabis operators active in the legal cannabis and hemp industry in the United States. RWB mainly focuses its investments in major US markets including Michigan, Illinois, Massachusetts, Arizona and California for cannabis, and in the US and internationally for CBD products in hemp base.
For more information on Red White & Bloom Brands Inc., please contact:
Tyler Troup, Managing Director
IR circadian group
Visit us on the web: www.RedWhiteBloom.com
Follow us on social media:
Neither CSE nor its regulatory services provider (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements and information which are based on the beliefs of management and reflect the current expectations of the Company. When used in this press release, the words “estimate”, “plan”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “anticipate” , “May” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. There can be no assurance that these transactions will produce results in accordance with management’s expectations. These statements and information reflect the Company’s current view with regard to the risks and uncertainties which may cause actual results to differ materially from those contemplated in such forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to be materially different from results, performance. or future achievements expressed or implied by these forward-looking statements. These factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and related matters, risks associated with the cannabis industry, competition, regulatory changes, need for additional funding, reliance on key personnel, market size and price and volume volatility of the Company’s common shares. Forward-looking statements are based on the beliefs, estimates and opinions of management at the date the statements are made, and the Company does not undertake to update any forward-looking statements if such beliefs, estimates and opinions or other circumstances had to change. Investors are cautioned against assigning undue certainty to forward-looking statements.
There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. These factors include, among others, risks associated with the activities offered by the Company, such as failure of business strategy and government regulation; risks related to the Company’s operations, such as additional financing needs and access to capital, the use of key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks associated with the Company and its activities in general; risks associated with regulatory approvals. The Company cautions that the foregoing list of important factors is not exhaustive. When relying on the Company’s forward-looking statements and information in making decisions, investors and others should carefully consider the above factors as well as other uncertainties and potential events. The Company has assumed some progress, which may not materialize. It has also assumed that the important factors mentioned in the preceding paragraph will not cause these forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that these assumptions will reflect the actual result of such items or factors. Although the Company may choose to do so, it does not undertake to update this information at any given time.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACH ANY IMPORTANCE TO FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AT ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.