Red White & Bloom Florida Facility Ready To Produce Edibles

Red White & Bloom Brands Inc. RWB RWBYF confirmed Thursday it has built out a new production facility, to GMP specifications, in Florida.   

The new production facility, constructed within a 4,800 square foot standalone structure at RWB Florida’s Sanderson location, was built to accommodate the market's fast-growing demand for edibles.

RWB has developed a branded capsule and rosin line along with a proprietary line of chocolates that will be available to medical patients in Q4 of 2021.

“We are very pleased to have completed this state of the art production facility ahead of time and begin production this month” Jim Frazier, GM of RWB Florida stated. “We will begin with premium specialized confectionary offerings as finished retail-ready packages where medical patients will be able to select from a variety of different products. We are confident this new facility, coupled with our expert staff of edible specialists, can produce a market-leading offering.”

The news comes on the heels of the company’s approval to launch adult-use cannabis sales in Michigan.

Florida Cannabis Market Overview

Florida’s medical cannabis market is expected to hit $1.5 billion in sales in 2021, representing a 53% improvement from the previous year, as per a BDSA report. Furthermore, BDSA estimates Florida cannabis sales will reach $2.6 billion by 2026, assuming adult use will become legal.

“According to BDSA the market for ingestible products has increased from $5.3M a month to over $13M a month in the first six months of 2021” Brad Rogers, CEO of RWB said in a statement. “With growth of over 145 percent in just the first six months of this year, we are pleased to be entering this fast-growing market now.”

More recent news from Red White & Bloom Brands:

Red White & Bloom Brands Q2 Revenue Improves 13% QoQ To $13.3M, Signs Agreements To Restructure $20M Debt

Red White & Bloom Cannabis Shares Slightly Down After Drop In Q1 2021 Revenue

Price Action

Red White & Bloom’s shares closed Thursday market session 0.14% higher at 79 cents per share.

Photo: Courtesy of Elsa Olofsson on Unsplash