Red White & Bloom Brands CNSX:RWB Stock Report

Red White & Bloom Brands Announces Resignation of Ryan Costello from the Board of Directors

Red White & Bloom Brands Inc. announced that Ryan Costello has resigned from the board of directors effective June 17, 2022 for personal reasons. The Company is in the process of appointing additional directors to the Board upon completion of their regulatory clearance with applicable state cannabis regulators, which is ongoing and expected to be completed over the next few weeks.

Red White & Bloom Brands Inc. to Report Fiscal Year 2021 Results on May 02, 2022

Red White & Bloom Brands Inc. (CNSX:RWB) completed the acquisition of PharmaCo, Inc.

Red White & Bloom Brands Inc. (CNSX:RWB) announced its intention to exercise an option to acquire PharmaCo, Inc. on July 24, 2020. The all-share remuneration under the call option allows Red White & Bloom Brands to acquire PharmaCo in exchange for 37 million units, subject to certain adjustments and regulatory approvals. Each Unit shall consist of one common share and one series 2 convertible preferred share. Upon closing of the transaction, Red White & Bloom Brands's financials will all be consolidated under the public company umbrella. An application has been filed with Michigan Regulatory Agency in connection with the transaction. Red White & Bloom Brands has now begun to complete the acquisition and will complete subsequent to State regulatory approval. As of February 8, 2022, Red White & Bloom Brands Inc. received all the regulatory approval related to the transaction. PharmaCo employees will be joining the RWB team. Red White & Bloom Brands Inc. (CNSX:RWB) completed the acquisition of PharmaCo, Inc. on February 8, 2022.

Third quarter 2021 earnings: EPS and revenues miss analyst expectations

Third quarter 2021 results: CA$0.025 loss per share (up from CA$0.056 loss in 3Q 2020). Revenue: CA$11.8m (up 94% from 3Q 2020). Net loss: CA$5.53m (loss narrowed 42% from 3Q 2020). Revenue missed analyst estimates by 72%. Earnings per share (EPS) also missed analyst estimates by 55%. Earnings per share (EPS) missed analyst estimates by 55%. Over the next year, revenue is forecast to grow 747%, compared to a 140% growth forecast for the industry in Canada.