Red White & Bloom Brands Provides Update on Financial Statement Filings

TORONTO, June 15, 2021 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTCQX: RWBYF) (“RWB” or the “Company”), a multi-state cannabis operator and house of premium brands, is providing an update with respect to the filing of the Company’s audited annual financial statements for the year ended December 31, 2020, the related management’s discussion and analysis, related CEO and CFO certificates and annual information form for the year ended December 31, 2020 (collectively, the “Documents”), further to its May 31, 2021 update.

As of Friday, June 11, 2021, the Company has engaged Macias Gini & O’Connell LLP (“MGO”) as the successor auditor to replace MNP LLP (“MNP”). In connection with the appointment, the Company will be concurrently filing its change of auditor package with the securities commissions to reflect the appointment of MGO as its auditor.

The Company and MGO, with the full support of MNP are working towards completing the audit and filing the Documents.

The Company is not aware of any material issue with the auditor’s review. The Company continues to work diligently and expeditiously with its auditor to finalize the Documents. The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the annual filing requirements.

As previously disclosed in the May 31, 2021 update, the delay in completing the filing of the Documents was due to the Company’s auditor not completing its audit procedures in advance of the filing deadline.

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:

Brad Rogers, CEO and Chairman
604-687-2038

Tyler Troup, Managing Director
Circadian Group IR
[e-mail]

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.