Red White & Bloom (RWB)

What Red White & Bloom (RWB) does

Red White & Bloom Brands Inc. (CSE: RWB; OTCQX: RWBYF) is a Canadian-incorporated, US-focused multi-state cannabis operator headquartered in Toronto with primary operational footprint across Michigan, Illinois, Florida, California, Arizona, Oklahoma, and Massachusetts, plus Canadian operations in Pickering, Ontario. The company was formed through the April 2020 business combination of Tidal Royalty Corp. and MichiCann Medical Inc. and operates a vertically integrated model spanning cultivation, processing, manufacturing, wholesale distribution, and retail dispensaries. Its core assets include a 3.6 million sq ft greenhouse in Granville, Illinois (one of the largest indoor greenhouses in the US, projected to deliver production costs of $0.10 per gram and a 220,000 ft2 THC canopy license), a 113,546 SF Florida cultivation and processing facility on 15 acres in Sanderson (acquired from Acreage Holdings), a 23,572 SF Shelbyville, Illinois cultivation operation, and 18 Michigan store locations (open, awaiting license, or turn-key).

The company's portfolio comprises wholly-owned brands (Platinum Vape, PV Wellness D2C CBD with 140 SKUs), an exclusive licensing arrangement for the High Times cannabis brand across Michigan, Illinois, and Florida, and acquired Canadian brands Fuego, Xplor, and Happy & Stoned (via the June 2026 Emblem Cannabis/Ayurcann transaction). RWB distributes through approximately 800+ US dispensaries, 2,500+ Canadian retail locations, and a California home-delivery partnership with Budee (Driven By Stem) reaching 92% of the state population.

RWB makes money primarily through wholesale and retail sales of branded cannabis products, brand licensing royalties (including High Times), and third-party manufacturing services at its Pickering and Illinois facilities. FY 2024 revenue was $80.2M (a $10.6M increase over restated FY 2023 revenue of $69.6M), with FY 2024 EBITDA of $10.8M and gross profit after fair value adjustments of $28.4M. The company is publicly listed on the Canadian Securities Exchange and OTCQX, with active debt-funded acquisition activity since 2019.

Name

Red White & Bloom (RWB)

Legal name

Red White & Bloom Brands Inc.

Website

https://redwhitebloom.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Red White & Bloom is a publicly traded multi-state cannabis operator (CSE: RWB; OTCQX: RWBYF) that cultivates, manufactures, and distributes branded THC and CBD products, including Platinum Vape, High Times, and PV Wellness, through owned retail, wholesale dispensary networks, and licensing across US limited-license states and Canada.

Ownership category

akta.pro rank

Product category

Cannabis Cultivation, Manufacturing & Retail

NAICS

Medicinal and Botanical Manufacturing (325411)

SIC

Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG)

akta.pro secondary industry

Medical Cannabis Dispensaries (CRANAFAB)

Keywords

• Cannabis cultivation
• Cannabis retail dispensaries
• THC branded products
• CBD wellness products
• Cannabis brand licensing

Headquarters

HQ city

Granville

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Cannabis Product Sales: Revenue from selling THC and CBD cannabis products including flower, vapes, edibles, pre-rolls, and concentrates through owned retail locations and wholesale to dispensaries. FY 2024 revenues totaled $80.2 million, representing a $10.6 million increase from restated 2023 revenues of $69.6 million.
2. Brand Licensing: Revenue from licensing branded cannabis products including High Times (exclusive rights for Michigan, Illinois, Florida), Platinum Vape, and acquired brands (Fuego, Xplor, Happy & Stoned) through licensing agreements with licensed operators
3. Manufacturing Services: Revenue from manufacturing and processing cannabis products for third-party brands using licensed facilities in Pickering, Ontario (over 90 SKUs distributed through approximately 2,500 retail locations)

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Red White & Bloom operates as a vertically integrated multi-state cannabis operator that cultivates, manufactures, and sells branded THC and CBD cannabis products. The company owns and licenses a portfolio of cannabis brands — including Platinum Vape, High Times (exclusive license), PV Wellness, Fuego, Xplor, and Happy & Stoned — distributed through owned dispensaries, wholesale to 800+ US retailers and 2,500+ Canadian retail locations, home delivery partnerships, and brand licensing to MSOs.

Product overview

Red White & Bloom operates as a multi-state cannabis operator with a diversified brand portfolio spanning THC and CBD products. The company controls operations 'from seed to sale' through a combination of owned brands (Platinum Vape, PV Wellness), licensed brands (High Times), and acquired Canadian brands (Fuego, Xplor, Happy & Stoned). The portfolio includes vape products, edibles, flower, pre-rolls, and CBD wellness products, distributed through retail locations across the US and Canada.

Differentiator

Problem solved

Functional benefit

Brands

• Platinum Vape: THC brand offering diverse cannabis products including edibles, skin and bath care, clothing, vapes, darts, gummies, chocolates, and premium cannabis flower. One of the most recognized brands in Michigan and expanding throughout California, Arizona, Oklahoma, and Illinois.
• High Times
• PV Wellness
• Fuego
• Xplor
• Happy & Stoned

Products and services

• Platinum Vape Flagship THC brand offering vapes, edibles (gummies, chocolates), darts, premium flower, and pre-rolls. Sold through 800+ dispensaries in Michigan, California, Oklahoma, and Arizona; expanded to California home delivery through Budee partnership covering 92% of state population.
• PV Wellness Direct-to-consumer CBD wellness brand offering 140 SKUs online, leveraging indoor-grown ultra-premium CBD inputs targeting Gen Z to Boomer demographics.
• High Times Branded Cannabis Products Exclusive licensed cannabis products under the High Times brand (Red Label and Black Label collections) — including flower, vapes, gummies, and pre-rolls — sold in Michigan dispensaries under exclusive licensing rights.
• Fuego Nationally recognized Canadian vape brand acquired through Ayurcann transaction; produced at Health Canada-licensed Pickering, Ontario facility and distributed through ~2,500 Canadian retail locations.
• Xplor Leading Canadian pre-roll brand acquired through Ayurcann transaction; part of national Canadian cannabis distribution through ~2,500 retail outlets.
• Happy & Stoned Nationally recognized Canadian cannabis brand acquired through Ayurcann transaction; produced at Health Canada-licensed Pickering, Ontario manufacturing facility.

Quantifiable outcome

• FY 2024 Revenue: $80.2 million (+$10.6M vs prior year)
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and flagship.

• Ayurcann Holdings Corp.coreStrategic or Co-development Partner · 8 June 2026RWB's subsidiary Emblem Cannabis Corporation completed acquisition of Ayurcann's Health Canada-licensed manufacturing operations through court-supervised insolvency proceeding under the Companies' Creditors Arrangement Act. Transaction valued at CDN$5,501,311 (debt release of CDN$2,101,075 + CDN$3,400,236 cash), including licensed formulation and manufacturing facility in Pickering, Ontario, over 90 SKUs, and nationally recognized brands (Fuego, Xplor, Happy & Stoned) distributed through 2,500 retail locations. Expected to be immediately accretive to revenue and EBITDA.
• Budee (Driven By Stem)coreChannel Partner/ Reseller/ Distributor · 2 March 2021Platinum Vape partnered with Budee, the Delivery-as-a-Service platform owned by Stem Holdings (Driven By Stem), to offer Platinum products via home delivery to 92% of California's population through the Budee e-commerce store. Budee employs over 350 delivery drivers servicing customers from four distribution hubs strategically located in California, enabling same-day express (within 90 minutes) or overnight delivery. This partnership vastly expanded availability of Platinum's premium cannabis products in California as demand for home delivery accelerates.
• Acreage HoldingsflagshipStrategic or Co-development Partner · 25 February 2021RWB acquired Florida operations from Acreage Holdings including licensed medical marijuana dispensaries (8 leased locations), processing facility, cultivation facility (113,546 SF on 15 acres in Sanderson, FL), and 4,360 SF administrative building. Transaction valued at US$60 million (US$5M upfront, US$20M cash, US$7M stock, US$28M vendor take back notes). This acquisition established RWB's presence in the third largest US cannabis market by revenue.
• Arizona MSO PartnercoreChannel Partner/ Reseller/ Distributor · 19 February 2021Platinum Vape received regulatory approval to launch in Arizona through a local MSO partnership. Platinum entered into services agreement and sublease with leading Arizona MSO, subleasing approximately 6,000 square feet of licensed facility space. Initial launch included popular vape products including Indica, sativa, hybrid, and CBD:THC ratio cartridges into 16 Arizona dispensaries.
• Cannabis Capital Partners Inc. (CCP)flagshipStrategic or Co-development Partner · 17 December 2020RWB signed definitive agreement to acquire CCP (Ontario special purpose vehicle) which holds rights to THC cultivation center licenses in Illinois, a 23,572 ft2 active cultivation and manufacturing operation in Shelbyville, associated inventory, and 2 acres of land. Deal terms included US$16.25M cash at closing (45 days after approval), US$16.25M in 8% interest-only 18-month note, and up to 22M common shares based on milestones. This provided access to one of twenty-one original Illinois 'super licenses' allowing 220,000 ft2 THC cultivation canopy.
• High Times (Hightimes Holding Corp.)flagshipOEM/ Whitelabel/ Licensing Partner · 5 June 2020RWB secured exclusive licensing rights to brand dispensaries and manufacture/sell cannabis products under the High Times brand - the most well-known cannabis brand in the industry (46+ year history) - throughout Michigan, Illinois, and Florida, subject to regulatory approval. Additional rights for CBD and non-THC cannabinoid-based products worldwide. High Times initial product release sold out in hours, demonstrating strong consumer demand for the branded products.

Scale indicators21 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Acreage Holdings: Multi-state cannabis operator with significant footprint in limited-license states — directly comparable to RWB; Acreage sold its Florida operations to RWB for $60M in 2021, providing an explicit precedent transaction.
• Verano Holdings: Multi-state cannabis operator with vertically integrated cultivation, retail, and branded products across multiple US markets — directly comparable to RWB's seed-to-sale MSO strategy and limited-license state positioning.
• Green Thumb Industries: US cannabis MSO with owned retail, cultivation, and branded consumer products (Rythm, Dogwalkers, Beboe) across limited-license states — directly comparable to RWB's vertically integrated brand-led MSO model.
• Curaleaf Holdings: Largest US cannabis MSO by revenue, operating retail dispensaries, cultivation, and branded products across dozens of states — directly comparable to RWB's seed-to-sale MSO model and multi-state brand portfolio strategy.
• Columbia Care: Multi-state cannabis operator with cultivation, manufacturing, and dispensary operations across the US, recently combined with Cresco Labs — comparable to RWB's vertically integrated model and limited-license state focus.
• Ayr Wellness: Cannabis MSO with cultivation, processing, and retail across multiple US states with focus on limited-license markets — comparable to RWB's strategy of acquiring licensed operations in restricted states.
• Cresco Labs: Multi-state operator with strong brand portfolio (High Supply, Good News, Mindy's) and wholesale distribution focus — directly comparable to RWB's branded product strategy across limited-license states including IL.
• TerrAscend: Multi-state cannabis operator with operations in PA, NJ, MD, MI, MA, and CA including cultivation and retail — comparable to RWB's multi-state footprint; notably, RWB's finance lead Joseph Choi previously worked at TerrAscend.
• Trulieve Cannabis: Multi-state cannabis operator with the dominant Florida retail footprint and expanding branded product portfolio — directly comparable to RWB's Florida medical market position via the Acreage acquisition and brand-led strategy.

Others

• Stem Holdings: Multi-state cannabis operator that owns the Budee delivery-as-a-service platform — RWB's delivery partner enabling 92% California population reach; comparable as ecosystem partner rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/rwbbrands
• Facebookfacebook.com/redwhitebloombrands
• LinkedInlinkedin.com/company/redwhite-bloom
• Instagraminstagram.com/redwhitebloombrands

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Red White & Bloom (RWB)