RWBYF - CannabisNewsBreaks - Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Strategically Pursuing Vertical Integration
Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF) is riding the popularity of its trademarked Platinum Vape to remarkable revenue growth, recording a 93% year-over-year increase in its recently released third-quarter financial report. “The financial results note that the majority of the company’s revenue comes from sales of cannabis finished products through third-party wholesaling to retailers, delivering quarterly revenue of $11.8 million and EBITDA of $5.9 million that reverses an EBITDA loss of $5.8 million in Q3 2020 for a gain of $11.9 million,” reads a recent article, which also includes comments by RWB chairman and CEO Brad Rogers as well as CFO Chris Ecken. On his part, Rogers said, “In the third quarter, we made excellent progress in laying additional building blocks in our core operating states of Florida, Michigan and California to become more vertically integrated where it will be most profitable… This will help drive increased revenue and margins for the company.” Ecken further added, “RWB is being very strategic in pursuing vertical integration only when there is value to be added. We aim to be asset light and brand rich.”
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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.
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