RWB Reports the 30 New Grow Pods Will Add 19,200 Sq Ft to its Florida Operation, Which it Expects to Generate an Additional $30 Million Annually for the Company
Florida Currently Boasts the Third Largest Medical Cannabis Market in the United States, With 2020 Taxable Sales Reaching $1.23 Billion
Leading Market Analyst Arcview Projects the Sunshine State Market Could See its Sales Skyrocket to $6 Billion By 2030
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced today that it has officially entered Phase 2 of the company’s Florida expansion plan ahead of schedule, with subsidiary RWB Florida taking delivery of 30 modular grow pods at its Apopka cultivation location.
Phase 2 started with the commissioning and OMMU approval of five pods that were subsequently loaded and growing plants. RWBFL is fast-tracking the remaining 25 pods and expects to be operational no later than December 1, 2021. The pods provide an additional 19,200 sq. ft. of indoor cultivation space that will produce high-quality flower.
Commenting on the company’s milestone announcement, RWB CEO Brad Rogers stated:
“Our Red White & Bloom Florida team has been on time, on target and under budget with the execution of every step of our aggressive three-phase development strategy for our two cultivation centers in Florida. With the delivery of the grow pods and anticipated launch date of December 1st, we are ahead of schedule and on our way to adding $30 million in revenue annually from the pods. Coupled with our cultivation and processing in Sanderson, the additional product will ensure Red White & Bloom has the needed inventory to fulfill inventory requirements at our HT Medical Cannabis dispensary in Springhill and for the next three dispensaries opening in the first quarter of 2022. The locations of the three dispensaries are St. Petersburg, Daytona, and Miami Beach.”
RWBFL met an additional milestone on November 2, 2021, producing its first batch of chocolates from its new edibles kitchen in Sanderson. With an innovative and unique approach to the new chocolate line, the staff has produced some of the best chocolates in the state and has plans to expand into additional edible SKUs soon.
“This team is working like a well-oiled machine and is simultaneously laying the groundwork for future expansion in Sanderson and other strategic locations that RWBFL is pursuing across the state,” added Rogers.
Source: Shutterstock & RWB Investor Deck
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RWBFL has made tremendous progress with the launch of its 45,000 sq. ft greenhouse and has implemented a proven growing process in Apopka, where half of the greenhouse is used for auto flower production for biomass to support RWBFL’s future extraction operation. The other half is for mothers, clones and vegetative operations for the company’s proprietary genetic strains.
“We have nurtured our strains to produce high-quality flower in the Florida climate while producing high yields, industry-leading THC percentages and superior terpene content. The grow pods provide us with speed to market capabilities which are needed for RWBFL to meet and exceed expectations for generating profitable revenue early in 2022,” said RWB Florida GM Jim Frazier.
Key RWB-Florida Development Phases:
Phase 1: Complete – Build-out of Apopka Greenhouse. Received regulatory approval to commence operations on September 29, 2021. Growing started September 30, 2021, with projected annual revenue over USD $10 million.
Phase 2: Installed and commissioned the first five pods. Received OMMU approval on October 22, 2021, and loaded the first two pods on October 27, 2021. Each pod will produce 63 lbs. of sellable product per harvest. The 30 pods will produce 10,000 pounds of high-quality flower per year that will generate $30 million in additional revenue.
Phase 3: On Schedule – Additional cultivation capacity in Sanderson. Building out the remaining space in Apopka, so RWBFL maximizes both facilities to generate profitable revenue.
RWBFL has recently hired numerous highly talented cultivation specialists and is developing a large, diverse workforce to facilitate the aggressive growth and projected harvest schedule at the Apopka facility. RWBFL will be expanding the current team of 15 to 25 by yearend and further expanding to 50 by the end of the first quarter of 2022.
“Red White & Bloom Florida is assembling an outstanding team that continues to rise to every challenge and meet every objective as we strive toward our core focus of aggressively developing our locations and producing high-quality products and profitable operations. We have had excellent support from the OMMU, the local government and the community, including the Chamber of Commerce, as we develop our Apopka facility. We are thrilled to welcome very talented, experienced cannabis specialists from the Orange County area to our team. Together we will be building a successful operation that benefits this community and our employees’ families, improves quality of life for medical cannabis patients and enhances shareholder value,” added Frazier.
RWB encouraged all prospective employees interested in learning more about the job openings to visit the company’s LinkedIn page.
In addition, RWB requested that applicants send their resumes and cover letters to the company via Info@RedWhiteBloom.com.
Learn more about Red White & Bloom: Website | IR Website | Investor Deck | RWB Chart
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