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RWBYF - Red White & Bloom Brands Inc News Story

$1.11 -0.0  -2.4%

Last Trade - 22/04/21

Sector
Healthcare
Size
Small Cap
Market Cap £161.2m
Enterprise Value £245.3m
Revenue £4.37m
Position in Universe 4398th / 6851

Red White & Bloom Completes USD $6.12 million Non-Convertible Debenture Financing

Thu 4th February, 2021 1:40pm
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TORONTO, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc.
(https://www.globenewswire.com/Tracker?data=NPpIvu9ie7KQ9vJDyV_898WZylF3ph82gPF6DjwOvmiFRyoZRF7A_tdWjP7MR0f840nz71RMPCLkfzwAfwXWo4SNAF0Sten-ivKN1TJj48M35BSjpRfw7Gkbq304E_S_)
(CSE: RWB) (OTC: RWBYF)
(https://www.globenewswire.com/Tracker?data=LvD8RYJFEZ5eN9yzvL6F9JUGr6tKL39TGG5weJdVnz9oOh3-_cJEE69-QMSBhXczMbiCF_uV3R6UBqFQPY64wUcHMLrfHup3uS6zzus7ZcPagHW_99XkmEWwPM6vbWz10v-GrD1wai4EmLv7oZy8kxG700Skc1ATAqNtYJOeviY=)
(“RWB” or the “Company”) announces that it closed a debenture unit
financing to an arm’s-length investor on a private placement basis.

The Debenture is not convertible, unsecured and bears interest at the rate of
7% per annum. The principal amount of the Debenture and accrued interest is
payable on April 1, 2022 (the “Maturity Date”).

The Company intends to utilize the proceeds from the Private Placement for the
following:

1) The expansion of its Platinum Vape business as it prepares for its launch
in Arizona;

2) Funding certain pre-closing operational plans for its previously announced
(https://www.globenewswire.com/Tracker?data=qnbJlxxdGujQK8r0G-leeWOrEk6ekdPNQNlS-HjleSyVN7P7Z3ImUocM514rVdvTD8Cy-C_evxlSfRn4N-AglrcxSsK7kzHeznsmgR0YSM5c3YLuidB0aoQtP9eFm03WnH9rZAo1ox_u3o6hbxtKQ-YQcEg4bz2yCCsF9SSdoyoIGZV3o9xIwP1TKwiNq9Gm2zZoo5lRE5odbl-ioEfbvw==)
acquisition of a THC Cultivation Center License and Associated Assets in
Illinois;

3) General corporate and working capital.

The Debenture Unit consists of a USD $6,120,000 principal amount of debenture
(the “Debenture”) and 1,000,000 common share purchase warrants (the
“Warrants”) netting the Company approximately US $6,000,000 after fees and
expenses. Each Warrant is exercisable into one common share of the Company at
a price of CDN$1.20 for a period of 2 years from the date of issuance. All
securities issued in connection with the Private Placement will be subject to
a four-month hold period under securities laws.

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 U.S. legal cannabis and hemp sector. RWB is
predominantly focusing its investments on the major US markets, including
Michigan, Illinois, Massachusetts, 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:

Tyler Troup, Managing Director
Circadian Group IR
IR@RedWhiteBloom.com 

Visit us on the web: www.RedWhiteBloom.com 

Follow us on social media:
Twitter: @rwbbrands
Facebook: @redwhitebloombrands
Instagram: @redwhitebloombrands

Neither the CSE nor its Regulation Services Provider (as that term is defined
in the policies of the CSE) accepts responsibility for the adequacy or
accuracy of this release.

FORWARD LOOKING INFORMATION

This press release contains forward-looking statements and information that
are based on the beliefs of management and reflect the Company’s current
expectations.  When used in this press release, the words “estimate”,
“project”, “belief”, “anticipate”, “intend”, “expect”,
“plan”, “predict”, “may” or “should” and the negative of these
words or such variations thereon or comparable terminology are intended to
identify forward-looking statements and information.  The forward-looking
statements and information in this press release includes information relating
to the implementation of the Company’s business plan and the PharmaCo
acquisition.  Such statements and information reflect the current view of the
Company with respect to risks and uncertainties that may cause actual results
to differ materially from those contemplated in those forward-looking
statements and information.

By their nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements.  Such factors include, among
others, the following risks: risks associated with the implementation of the
Company’s business plan and matters relating thereto, risks associated with
the cannabis industry, competition, regulatory change, the need for additional
financing, reliance on key personnel, the potential for conflicts of interest
among certain officers or directors, and the volatility of the Company’s
common share price and volume.  Forward-looking statements are made based on
management’s beliefs, estimates and opinions on the date that statements are
made, and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other circumstances
should change.  Investors are cautioned against attributing undue certainty
to forward-looking statements.

There are a number of important factors that could cause the Company’s
actual results to differ materially from those indicated or implied by
forward-looking statements and information.  Such factors include, among
others, risks related to the Company’s proposed business, such as failure of
the business strategy and government regulation; risks related to the
Company’s operations, such as additional financing requirements and access
to capital, reliance on key and qualified personnel, insurance, competition,
intellectual property and reliable supply chains; risks related to the Company
and its business generally. The Company cautions that the foregoing list of
material factors is not exhaustive. When relying on the Company’s
forward-looking statements and information to make decisions, investors and
others should carefully consider the foregoing factors and other uncertainties
and potential events. The Company has assumed a certain progression, which may
not be realized.  It has also assumed that the material factors referred to
in the previous paragraph will not cause such forward-looking statements and
information to differ materially from actual results or events. However, the
list of these factors is not exhaustive and is subject to change and there can
be no assurance that such assumptions will reflect the actual outcome of such
items or factors. While the Company may elect to, it does not undertake to
update this information at any particular time.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND,
ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.  READERS SHOULD NOT PLACE
UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED
IN ACCORDANCE WITH APPLICABLE LAWS. 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea005388-5fe8-4910-989f-b4de49b6bbc0)



GlobeNewswire, Inc. 2021
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