Red White & Bloom (CSE: RWB) is well underway with the development of its recently acquired Florida assets. The firm this morning announced that it has completed the build-out of a production facility within the state.
The purpose of the production facility is reportedly to focus on the growing edibles market within the state. The facility, at 4,800 square feet in size, is to focus on the production of chocolates for medical patients, as well as capsules and rosin.
“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,” commented Jim Frazier, general manager of RWB Florida.
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In terms of Florida, the company currently operates out of a cultivation facility situated on 15 acres, while owning 8 leased stores in the state. The Florida license was originally acquired for US$60.0 million in a transaction with Acreage Holdings (CSE: ACRG), which closed back in April.
Red White & Bloom last traded at $1.00 on the CSE.
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