Investornewsbreaks Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Reports Status Update On Aleafia Transaction


(MENAFN- Investor Brand Network) Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) , a multistate cannabis operator and house of premium brands, has released an update regarding its previously announced Aleafia Health Inc. transaction. According to the report, since Red White & Bloom received approval and a reverse vesting order from the Ontario Superior Court of Justice (Commercial List) in October 2023, the company has been working with Aleafia Health and certain subsidiaries to implement the transactions outlined by the previously announced and amended stalking horse asset purchase and share subscription agreement. Company officials noted that the only unsatisfied closing condition they are aware of is the change of control regulatory approval from Health Canada.“RWB has been advised by Aleafia Health that it has received correspondence from Health Canada indicating that the approval process is progressing well and that there are no further comments or questions to be addressed by Aleafia Health on the change of control application submitted to Health Canada at this time,” stated the company in the press release.“Health Canada has also acknowledged the priority associated with the aforementioned approval. Given the above noted condition, the parties have mutually agreed to extend the outside date in the Amended Stalking Horse Agreement from Dec. 15, 2023, to Jan. 19, 2024. RWB is hopeful to receive Health Canada's approval sooner so that completion of the transactions can take place well in advance of the new outside date. RWB remains prepared to close the transaction in short order once regulatory approval on the change of control is received from Health Canada.”

To view the full press release, visit

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. legal cannabis sector. RWB is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, Missouri, Michigan and Ohio. The company has also successfully introduced its select Platinum brand of cannabis products into the Canadian provincial cannabis markets by way of an asset-light partnership with Aleafia Health. For more information about the company, please visit .

NOTE TO INVESTORS:
The latest news and updates relating to RWBYF are available in the company's newsroom at
h

About InvestorWire

InvestorWire
(“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within
the
Dynamic Brand Portfolio
@
IBN
that delivers :
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact ;
(4)
social media distribution
via IBN to millions of social media followers ;
and (5) a full array of tailored
corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today's market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published:
/Disclaimer

InvestorWire
Los Angeles, CA

310.299.1717 Office
...

InvestorWire is powered by
IBN

MENAFN18122023000224011066ID1107619747


Investor Brand Network

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.