December 30, 2021  — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) has issued 6,784,812 shares to settle a CAD$5.1 million (US$4.0 million) debt. The weighted average conversion price is approximately CAD$0.75 per share (US $0.56). By settling the debt at a favorable conversion price, RWB will realize an accounting gain of approximately CAD$2.3 million (US$1.8 million).

Debt Refinance

Further to its press release of April 28, 2021, RWB has refinanced the CAD$12.8 million (U.S.$10 million) principal amount of its “Seven month” vendor take-back note issued to High Street Capital Partners, LLC, in connection with RWB Florida LLC’s acquisition of all of the issued and outstanding shares of Acreage Florida, Inc. (“Acreage Florida”).

To refinance, RWB entered into an agreement for an aggregate principal amount of approximately CAD$14.6 million (US$11.5 million) secured debenture (the “Debenture”) on November 29, 2021 from an arm’s length investor. The Debenture bears interest at the rate of 10% per annum and matures on May 30, 2022 unless accelerated under certain circumstances.

Stock & Option Issuance

Additionally, on December 21, 2021, RWB granted the following:

  • 500,000 stock options to a member of the board of directors at the price of CAD$0.40 (US$0.31). The shares will vest in one year.
  • 135,000 restricted share units (RSU)  to a subcontractor for services at a deemed price of CAD$1.00. The RSUs vest on issuance.

All securities issued are subject to a four month and one day hold period from issuance in accordance with applicable securities laws.

About Red White & Bloom Brands Inc.
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 U.S. markets, including Michigan, Illinois, Massachusetts, Arizona and California with respect to cannabis, and the U.S. and internationally for hemp-based CBD products. Visit website:, or follow RWB on social media:
Twitter: @rwbbrands;
Facebook: @redwhitebloombrands;
Instagram: @redwhitebloombrands.