(MENAFN- GlobeNewsWire - Nasdaq) New Product channel Expands & Accelerates 2024 Revenues
COSTA MESA, Calif., April 04, 2024 (GLOBE NEWSWIRE) -- Rodedawg International Industries, Inc. (OTC: RWGI) proudly announces the Company, through our wholly owned subsidiary, Parabola Mgmt. LLC, has accelerated sales of hemp and cannabis derived isolates.
Chris Swartz, CEO, states:“We are proud to announce that last quarter management invested over six figures in developing a manufacturing facility for extraction of cannabis derived isolates from hemp. The internal investment by our leadership is specifically for one of our largest revenue centers which benefits all Rodedawg shareholders. We passionately believe that as the leadership of the company we should demonstrate with our own dollars the value of the Rodedawg expansion for 2024 and beyond. We have completed the initial test of the equipment, and the Company is now at 65% production of the cannabis derivatives and isolates, and our revenues are growing rapidly.”
Mr. Swartz adds,“According to Zion Market Research, the Global Cannabis Extract Market is growing at CAGR of 16.8% and expected to reach 21.6 Billion by 2026. This is a major milestone for our Rodedawg shareholders as we now have in place our own manufacturing capability, our own distribution, and our own sales channels. Rather than grow from a secondary market, it is particularly important that we are growing from the #1 cannabis market in the world. In the coming quarters we have planned expansion into additional states bringing Rodedawg into the MSO (multi-state operator) category.”
Mr. Swartz concludes,“Quite frankly, it has been a multi-year journey for our shareholders during which we have been building the company's infrastructure for the current growth we are now experiencing. We truly are honored and proud to be reporting the upcoming Disclosure. We believe that this period of growth is the reflection of the combined determination of our team and shareholders to have Rodedawg becoming a dominant force in the #1 cannabis market in the world. These preliminary sales that will be reported in our first quarter Disclosure for 2024 will be the indicator of continued growth of the hemp derived isolates channel. We are working quickly to complete the Disclosure. The company continues to encourage our shareholders to re-visit our corporate roadmap and corporate video area on the website at . We are confident that our strategically planned roadmap of expansion via sales, acquisitions and mergers will increase 2024 revenues to meet and potentially exceed our stated goal of 7 million annually.”
About Rodedawg International Industries, Inc.
Rodedawg International Industries, Inc. (OTC: RWGI) is focused on providing management services, acquisitions and restructuring resources throughout the regulated California cannabis market. We are a trusted partner and asset to licensed cultivation, distributors, manufacturers, and retail dispensaries.
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About Budding Horizon, LLC
Budding Horizon, LLC is a California Limited Liability Company with offices in Orange County, California. The company is focused on providing management services for the licensed cannabis industry and seeks to leverage its expertise in the real estate acquisitions to acquire and develop a portfolio of assets.
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About Brother BudsTM
Brother Buds is a cannabis delivery service based in Costa Mesa, California. During the month of July 2023, the Rodedawg will operate Brother Buds under a non-storefront cannabis delivery license. The cannabis delivery service will focus on Los Angeles County, Orange County, and norther San Diego County in the demographic area of 23.86 million in 2019. The company is focused to providing management services for the licensed cannabis industry and seeks to leverage its expertise in the real estate acquisitions to acquire and develop a portfolio of assets.
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About Elixicure
Elixicure is a leading provider of manufacturing and capsule encapsulation services. We offer a wide range of services to meet the diverse needs of our clients, including capsule encapsulation, formulation, manufacturing, labeling and bottle filling. Our state-of-the-art facilities and experienced team of professionals allow us to deliver high-quality products and exceptional customer service. Whether you are looking for small-scale or large-scale production, we have the expertise and capabilities to meet your needs. Contact us today to learn more about how we can support your manufacturing and encapsulation needs.
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Contact Information:
Rodedawg International Industries, Inc.
1-800-793-0355
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Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Rodedawg International Industries, Inc.
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