Cannabis operator Red White & Bloom (CSE:RWB) (OTC:RWBYF) has launched operations at its 15,000 square foot manufacturing, processing and distribution facility in Warren, Michigan.
What Happened
The Toronto-based company said Tuesday that it has closed on a lease assignment for the facility via its RWB Michigan LLC wholly-owned subsidiary and has been issued both medical and adult-use licenses.
RWB confirmed that it will immediately begin producing medical and adult-use cannabis products as all necessary equipment has been installed and inspected.
Why It Matters
The move enables the distribution of RWB's 'house of premium brands' to more than 400 stores across Michigan, RWB CEO and chairman Brad Rogers explained.
"This is a milestone that enables Red White & Bloom to officially process and distribute our Platinum Vape product lines and licensed High Times branded products in the State of Michigan rather than through a third party," Rogers told Benzinga. "It also opens the door to provide more brands and line extension options to customers to meet their needs."
The facility features the latest edibles production equipment, which will allow RWB to launch chocolates and gummies as well as Platinum Vape products via the same distribution channel. RWB expects to launch PV gummy and chocolate production immediately and, for the first time, offer these products outside of California.
"We are now expanding our Platinum Vape brand offering to gummies and flower, which have proven to be very popular in California," Rogers continued.
What's Next?
RWB Michigan will hire 30 full-time employees in the coming weeks, the company said.
Apart from offering a wide variety of currently available positions ranging from frontline employees to PhDs specializing in product formulations, RWB plans to grow the workforce in Warren to 50 people in 2022.
"This is just the first step for us in Michigan, with expansion related to other assets expected to follow soon," Rogers concluded.
More recent news from RWB:
- Red White & Bloom Wraps Up 2021 By Settling CA$5.1M Debt, Refinances CA$12.8M Acreage Florida Acquisition Note
- Avicanna Debuts CBD Derma-Cosmetics Pura H&W In US Via Deal With Red White & Bloom
- Red White & Bloom To Install 30 Grow Pods, Expecting Yield Of $30M In Revenue
RWBYF Price Action
RWB's shares traded 8.40% higher at $0.3794 per share at the time of writing at the market close on Friday.
Photo: Courtesy of Red White & Bloom Brands Inc.
