Red White & Bloom Brands Inc. RWB RWBYF has launched High Times branded THC at 23 retail locations (provisioning centers) across Michigan.
The Toronto-based company kicked off the sale of an exclusive line of High Times branded cannabis products in the Great Lake State in December, just months following the inking of a licensing rights deal with Hightimes Holding Corp.
Under the agreement, which was signed in June, RWB acquired the licensing rights for the branding of High Times medical and recreational dispensaries as well as CBD and THC products in Illinois, Florida, and Michigan.
"Delivering top-shelf product that stands behind and supports one of the most recognizable brands with such a storied past is truly an honor, and our customers have been overwhelmingly positive to it," Brad Rogers, chairman and CEO of RWB, disclosed Tuesday.
The company initially launched packaged flower and prerolls in several formats, including 3.5g Black Label Flower, 3.5g Red Label Flower, 1g Black Label Single Prerolls, 1g Red Label Single Prerolls, 2.5g Black Label 5-pack, and 2.5g Red Label 5-pack.
RWB reported that over 60% of the initial order worth CA$1.25 million ($1.04 million) was sold within the two weeks. According to Michigan's Marijuana Regulatory Agency, April's cannabis sales amounted to $154 million.
RWB said it plans to launch the second line of the brand in June, consisting of vapes, concentrates, and edibles.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.