Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has issued 6,784,812 shares to settle a CAD$5.1 million (US$4.0 million) debt. By settling the debt at a favorable conversion price (approximately CAD$0.75 or US $0.56 per share), RWB will realize an accounting gain of approximately CAD$2.3 million (US$1.8 million). Further to its April 28 press release, RWB has refinanced the CAD$12.8 million (U.S.$10 million) principal amount of its “Seven month” vendor take-back note issued to High Street Capital Partners LLC, in connection with RWB Florida LLC’s acquisition of all of the issued and outstanding shares of Acreage Florida Inc. In addition, on Dec. 21, 2021, RWB granted 500,000 stock options to a member of the board of directors at the price of CAD$0.40 (US$0.31) and 135,000 restricted share units (“RSUs”) to a subcontractor for services at a deemed price of CAD$1.00. The shares will vest in one year and the RSUs vest on issuance.
To view the full press release, visit https://ibn.fm/9y6A1
About Red White & Bloom Brands Inc.
The company 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 the major U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. For more information about the company, visit www.RedWhiteBloom.com.
NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://ibn.fm/RWBYF
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.qualitystocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php