Red White & Bloom’s Platinum Vape Expanding into Arizona
Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) announces that Platinum Vape has entered into agreements with a third-party licensed MSO to launch Platinum products in Arizona later this quarter.
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 and California with respect to cannabis, and the US and internationally for hemp-based CBD products.
PV has entered into a services agreement and sublease with a leading MSO in the State of Arizona. Under these agreements, PV has subleased a licensed facility that encompasses approximately 6,000 square feet of space and expects to see PV branded products in the Arizona market this quarter.
Platinum are purveyors of a full product line of premium cannabis products sold at over 750 retailers throughout Michigan, California and Oklahoma boasting an 84% rating (4.2/5) on WeedMaps.com.
Chairman & CEO Brad Rogers stated, “Platinum continues to execute on their expansion plans into a market that I expect to be in the top 5 in the US. The Platinum brand is quickly becoming recognized as the market leader in quality, safety and user experience. Rogers further added, “Arizona isn’t only getting a great brand and incredible product, they’re getting George, Cody and the entire team at PV’s solidarity and selfless commitment to making the best possible cannabis products.”
New Frontier Data estimates that with a population of roughly 7.4 million, Arizona has nearly 1.2 million cannabis consumers in total (i.e., legal or illicit). Should Prop 207 pass, Arizona’s legal adult-use market is projected to generate $341 million in revenue in its first year, and expand by 2025 to generate over $1 billion in revenue. In 2019, Arizona’s medical market rang up $768 million in sales.