Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has reached an agreement with certain company shareholders. The company noted that specific shareholders have agreed to a nonconversion lock-up period for their preferred shares; the shares, which represent more than 50 million RWB series II preferred shares, have a term that expires on April 24, 2022. The new agreement enables the shareholders involved to maintain their rights as preferred share shareholders. “RWB senior leadership, including myself, as well as a number of shareholders believe in RWB’s long-term house of premium brands strategy to lead the US cannabis industry,” said Red White & Bloom CEO and chair Brad Rogers in the press release. “We are continuing to strengthen every aspect of the company. Those that have been following us recognize the significant transformation that we are undertaking with additions to our team, expansion of our brands, and the imminent operationalizing of key investments we have made over the last couple of years. This lock-up extension reflects confidence in the vision and long-term growth potential of the Company by its founders, management and shareholders. We are committed to building the business and driving long-term shareholder value.”
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About Red White & Bloom Brands Inc.
Red White & Bloom Brands is positioning itself to be one of the top-three multistate cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California, with respect to cannabis, as well as the United States and internationally for hemp-based CBD products. For more information about the company, please visit www.RedWhiteBloom.com.
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