Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has released a status update on the management cease trade order (“MCTO”) the company received from the British Columbia Securities Commission; the MCTO was effective on May 3, 2022, under the National Policy 12-203. In the update, RWBYF noted that it had planned to file required annual reports with the BC Securities Commission on or before June 30, 2022, but that based on feedback from its auditor, Macias Gini & O’Connell LLP, the company would not be able to submit the required documents by that date. In addition, the company noted that during the MCTO, the general investing public may continue to trade existing RWBYF listed common shares, although RWBYF CEO and interim CFO may not trade shares. The announcement also noted that Ryan Costello has resigned from the board of directors for personal reasons, and Red White & Bloom is in the process of appointing additional members to the board. “The company has been working diligently with MGO to ensure that the audit is completed as soon possible,” the announcement stated. “The company applied to extend the MCTO, which was subsequently approved by the BCSC, and anticipates filing the annual filings and Q1 2022 on or before July 15, 2022. Further updates on timing will be provided by the company as necessary. The existing MCTO presently continues to be in effect.”
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About Red White & Bloom Brands Inc.
Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Illinois, Massachusetts and Michigan with respect to cannabis, and the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com.
NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://ibn.fm/RWBYF
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