Red White & Bloom Acquires Rights To High Times Brand Across Michigan, Illinois And Florida

This morning, new issuer Red White & Bloom Brands (CSE: RWB) announced that it has signed a definitive agreement to acquire licensing rights of the High Times brand for dispensaries and CBD and THC products in the states of Michigan, Illinois, and Florida, along with the branding of hemp products nationally across the USA.

The transaction, valued at US$15.0 million, is occurring through the issuance of shares at a price of $1.50 per share. The transaction is somewhat oddly structured, in that a new corporation was created by High Times, whom was then ascribed the rights of branding within the states of Florida, Michigan, and Illinois for both products and dispensaries. Red White & Bloom then subsequently purchased the newly incorporated firm via the issuance of shares.

Under the terms of the definitive agreement, Red White & Bloom will acquire exlusive rights to brand medical and recreational dispensaries under the High Times brand within the three states. As a result, RWB will see its 18 planned and operational dispensaries in Michigan rebranded as High Times retail stores. The retail locations will also create and sell cannabis branded under High Times product lines, with RWB also selling branded product to other dispensaries in the state.

The agreement will also see RWB secure the rights to the Culture brand of CBD and whole hemp flower products nationally, with initial plans consisting of growing and manufacturing these products from Red White & Blooms 3.6 million square foot facility in Illinois.

Red White & Bloom Brands currently has operations in the states of Michigan, Illinois and Massachusetts.


Information for this briefing was found via Sedar, Red White & Bloom Brands and Hightimes Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Aleafia Walks From Proposed Merger With Red White & Bloom

Aleafia Health (TSX: AH) has been forced to walk away from the previously announced proposed...

Monday, July 17, 2023, 08:22:14 AM

Red White & Bloom Begins Operations At New Manufacturing Facility

Red White & Bloom (CSE: RWB) this morning continued the development of its operations in...

Tuesday, January 18, 2022, 08:39:59 AM

Acreage Holdings Sells Florida Ops To Red White & Bloom For $60.0 Million

Acreage Holdings (CSE: ACRG.A.u) has sold its Florida operations. The company this morning announced in...

Thursday, February 25, 2021, 07:11:00 AM

Red White & Bloom Reworks Platinum Vape Acquisition, Removes $12.5 Million In Liabilities

Red White & Bloom (CSE: RWB) this morning continued to clean up its balance sheet...

Monday, October 18, 2021, 08:33:21 AM

Red White & Bloom Looks To Expand Florida Operations Ahead Of Transaction Closing

It appears Red White & Bloom (CSE: RWB) is looking to hit the ground running...

Tuesday, April 6, 2021, 07:42:04 AM