TORONTO, Sept. 09, 2021 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”), a leading provider of cannabis brands in the US, has built-out a new production facility, to GMP specifications, in order to capitalize on the growing cannabis derivative market in Florida.
BDSA1 reports that, “Florida’s medical cannabis market is expected to reach $1.5 billion in sales in 2021, growing 53% over 2020.” Adding, “With both recreational and medical cannabis expected to be legal in Florida by 2023, BDSA forecasts it will grow to $2.6 billion by 2026.”
The production facility was built within a 4,800 square foot standalone structure at RWB Florida’s Sanderson location. The addition was built to accommodate the fast-growing demand for edibles in the market1. RWB has developed a branded capsule and rosin line along with a proprietary line of chocolates that will be available to medical patients in Q4 of 2021.
“We are very pleased to have completed this state of the art production facility ahead of time and begin production this month” said Jim Frazier, GM of RWB Florida. Adding, “We will begin with premium specialized confectionary offerings as finished retail-ready packages where medical patients will be able to select from a variety of different products. We are confident this new facility, coupled with our expert staff of edible specialists, can produce a market-leading offering.”
“According to BDSA the market for ingestible products has increased from $5.3M a month to over $13M a month in the first six months of 2021” stated Brad Rogers, CEO of RWB. “With growth of over 145 percent in just the first six months of this year, we are pleased to be entering this fast growing market now.”
About Red White & Bloom Brands Inc.
The company is positioning itself to be one of the top three multi-state cannabis operators active in the US legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Florida, Arizona, and California with respect to cannabis, and the US and internationally for hemp-based CBD products.
For more information about Red White & Bloom Brands Inc., please contact:
Brad Rogers, CEO and Chairman
Tyler Troup, Managing Director
Circadian Group IR
Visit us on the web: www.RedWhiteBloom.com
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1 Source: www.globenewswire.com/en/news-release/2021/04/13/2209199/0/en/BDSA-Launches-Cannabis-Retail-Sales-Tracking-in-Florida-and-Michigan.html