Red White & Bloom Brands Inc. (CSE:RWB) (OTCQX:RWBYF) has launched High Times branded THC at 23 retail locations (provisioning centers) across Michigan.
The Toronto-based company kicked off the sale of an exclusive line of High Times branded cannabis products in the Great Lake State in December, just months following the inking of a licensing rights deal with
Hightimes Holding Corp.
Under the agreement, which was signed in June, RWB acquired the licensing rights for the branding of High Times medical and recreational dispensaries as well as CBD and THC products in Illinois, Florida, and Michigan. Delivering top-shelf product that stands behind and supports one of the most recognizable brands with such a storied past is truly an honor, and our customers have been overwhelmingly positive to it, Brad Rogers, chairman and CEO of RWB, disclosed Tuesday.
High Times Launches Premium Cannabis in California & Michigan
May 14, 2021 10:00 ET | Source: Hightimes Holding Corp. Hightimes Holding Corp.
Nearly 47 year old Industry Trailblazer has Introduced its Black Label Cannabis Products
LOS ANGELES, May 14, 2021 (GLOBE NEWSWIRE)
®, the most well-known brand in cannabis, announced today the launch of its first-ever premium cannabis offering, High Times Black Label. Debuting in California and Michigan, the two largest legal cannabis markets in the United States, the launch sees the company introduce their first premium branded flower and pre-rolls across Indica, Sativa, and Hybrid strains. After curating the best the market has to offer through its vivid pictures and stories for nearly a half century, High Times is finally making the products available to consumers.
Red White & Bloom s Brad Rogers On The Power Of Branding In Cannabis
During a recent interview with Benzinga,
Red White & Bloom Brands Inc. s (OTCQX:RWBYF) chairman and CEO Brad Rogers said he and his team are focused on executing the business plan they believe works. We know our business. We know our plan, the CEO said.
The cannabis multistate operator and its several brands aim to focus on the quality of states in which it s involved in rather than the quantity, he said.
The vision includes brands like Platinum Vapes, a company RWB acquired in July 2020. Rogers said the line now holds roughly 35% of the Michigan vape market share.
Red White & Bloom Brands, Inc. (CSE:RWB) (OTCQX:RWBYF).
The New York-based company said Wednesday it has closed apreviously announced deal to divest 100% of its Acreage Florida, Inc. subsidiary to RWB.
The Acreage Deal Details: Under the terms of the agreement with Acreage’s subsidiary High Street Capital Partners LLC, RWB opted to purchase all of the issued and outstanding shares of common stock of Acreage Florida Inc. for $60 million.
The price tag includes $5 million in an upfront cash payment, an additional $20 million in cash, $7 million in RWB’s common stock and $28 million in vendor take-back promissory notes.
The deal also includes the sale of Acreage s Sanderson-based facility comprised of more than 15 acres of land with a roughly 11,000-square-foot cultivation area as well as a freestanding administrative office building spanning 4,000 square feet.
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