Red White & Bloom Brands Inc. Signs Agreement With High Times, Securing Exclusive Licensing Rights for High Times Branded Locations and Product Brands for Michigan, Illinois and Florida
Deal combines the largest Midwest cannabis operation boasting 350,000 transactions per year with one of the world’s most iconic cannabis brand for over 46 years
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TORONTO, June 05, 2020 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTC: TDRYD) (“RWB” or the “Company”) is pleased to announce that it has entered into a Definitive Agreement (as herein defined) to acquire the licensing rights for the branding of High Times dispensaries and High Times cannabis-based CBD and THC products in the States of Michigan, Illinois and Florida and branding of High Times hemp derived CBD products nationally in the United States carrying the Culture brand.
Under the terms of the Definitive Agreement, RWB will acquire the rights to exclusively brand both medical and recreational dispensaries and cannabis products within the States of Michigan, Illinois and Florida. RWB plans to sub-license to its investee in Michigan for its 18 planned and operational dispensaries, to be rebranded as High Times stores and allow the investee to create and sell cannabis derived products both within their own locations as well as to third parties in Michigan.
Brad Rogers, Chairman and CEO stated, “Throughout my career in the highly competitive media space, prior to cannabis, I have seen tremendous success licensing-in brands, strategically leveraging them for the demographics that recognize the best in class and quality, and then listing them in big box & specialty retailers. This agreement paves a path that will allow RWB and High Times to grow together well into the future beyond our news today.”
“Completing this deal represented by the only iconic brand in cannabis which has been around for over 45 years is a real honor. And to usher out prohibition of cannabis with this type of brand power has RWB in the best position we could be. We will look to leverage this and other licensing partnerships to support our existing retail and cultivation dominance as well as further foundationalize our positioning for future plans.”
“When you combine the incredibly valuable data that High Times can supply through their world renowned Cannabis Cups, millions of monthly unique visitors to their websites (https://www.hightimes.com/) and massive social media presence with our experience in growing standardized, award winning premium flower and extracts, we have a winning formula to deliver the best and most consistent quality products in the market under a trusted brand that will be the hallmark of the industry.”