Red White & Bloom (CSE: RWB) (OTC: RWBYF) today announced that it has filed its consolidated audited financial statements, management’s discussion and analysis (“MD&A”) and associated certifications. Among the highlights of the results for fiscal 2022, the company reported an increase in annual revenue to $97.5 million, a 260% increase from $37.3 million for fiscal 2021. In addition, RWB reported $27.6 million in gross profit after fair value adjustments for fiscal 2022, a $4.4 million increase as compared to fiscal 2021. The company has also provided notice to the British Columbia Securities Commission (“BCSC”) of the aforementioned filings to commence the process of lifting the Cease Trade Order (“CTO”) implemented by the BCSC on May 8, 2023. Revocation of the CTO is expected within a few days of today’s filing date.
“With the successful launch of our distribution operations in Michigan in January 2022, the closing of our acquisition in Michigan of both retail and cultivation operations, and our continuing focus on expanding our medical retail in Florida, the company is focused on growing market share in its key states,” said RWB CEO and Chairman Brad Rogers. “We are also progressing on our asset-light strategies in targeted legal states incorporating both licensing arrangements and leveraging local execution capabilities in both manufacturing and logistics. To that end, RWB has now added the states of Arizona and Missouri and continues to proactively negotiate other high-potential, emerging legal markets.”
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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 sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, Missouri, and Michigan. For more information about the company, visit www.RedWhiteBloom.com.
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