It appears Red White & Bloom (CSE: RWB) is looking to hit the ground running in Florida. The company this morning announced that it has purchased equipment to expand the cultivation capacity of operations in Florida upon anticipation of the transaction closing in the current quarter.
More specifically, Red White & Bloom has acquired what is refers to as “double wide fully enclosed cultivation pods” as a means to expand cultivation immediately. A total of 30 such units were acquired, which expands operating space by 19,000 square feet, 14,400 square feet of which is expected to result in canopy space.
The units will be delivered to the Sanderson Property in Florida, where a 113,546 square foot cultivation and processing facility already exists on 15 acres of land. Once operational, the pods are expected to deliver 7,000 lbs of cannabis flower per year, along with “thousands of pounds of trim,” with the firm placing a figure of $40 million in annual revenues from the pods.
The previously announced acquisition of Florida assets from that of Acreage Holdings is currently slated to close in the current quarter.
Red White & Bloom last traded at $1.58 on the CSE.
Information for this briefing was found via Sedar, and Red White & Bloom Brands. 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.