QualityStocksNewsBreaks – Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) Provides Update Regarding Restructuring, Strengthening of Balance Sheet
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a multistate cannabis operator and house of premium brands, has completed a companywide restricting, which resulted in the elimination of $115 million in liabilities and more than $22 million in annual expenses. Highlights of the strategic moves include the completion of the sale of its Granville, Illinois, facility; the repayment of $51.7 million secured debt and the elimination of $6.3 million of annualized debt servicing; and transitioning to an asset-light, brand-rich model that eliminated more than $13 million in associated annual operating expenses, inclusive of $8 million in cash operating costs. In…