Red White & Bloom Brands Provide Update on Filed Financial Statements

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TORONTO, June 15, 2021 (GLOBE NEWSWIRE) – Red White & Bloom Brands Inc. (CSE: RWB and OTCQX: RWBYF) (“RSF“or the”Society“), a multi-state cannabis operator and premium brand house, provides an update regarding the filing of the Company’s annual audited financial statements for the year ended December 31, 2020, the related MD&A , the CEO and CFO Certificates and Annual Information Form for the fiscal year ended December 31, 2020 (collectively, the “Documents”), following its update on May 31, 2021.

As of Friday, June 11, 2021, the Company has hired Macias Gini & O’Connell LLP (“MGO”) as successor auditor to replace MNP LLP (“MNP”). As part of the appointment, the Company will simultaneously file its change of auditor file with the securities commissions to reflect MGO’s appointment as auditor.

The Company and MGO, with the full support of MNP, are endeavoring to complete the audit and classify the documents.

The Company is not aware of any material issues relating to the auditor’s review. The Company continues to work diligently and expeditiously with its auditor to finalize the Documents. The Company confirms that it intends to meet the provisions of NP 12-203 and will continue to issue bi-weekly default status reports until it meets the annual filing requirements.

As previously noted in the May 31, 2021 update, the delay in completing the filing of documents was due to the Company’s auditor not completing its audit procedures by the filing deadline. .

About Red White & Bloom Brands Inc.

The Company is positioned to be one of the top three multi-state cannabis operators active in the legal cannabis and hemp industry in the United States. RWB mainly focuses its investments in major US markets including Michigan, Illinois, Massachusetts, Arizona and California for cannabis, and in the US and internationally for CBD products in hemp base.

For more information on Red White & Bloom Brands Inc., please contact:

Brad Rogers, CEO and President
604-687-2038

Tyler Troup, Managing Director
IR circadian group
[email protected]

Visit us on the web: www.RedWhiteBloom.com

Follow us on social media:
Twitter: @rwbbrands
Facebook: @redwhitebloombrands
Instagram: @redwhitebloombrands

Neither CSE nor its regulatory services provider (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements and information which are based on the beliefs of management and reflect the current expectations of the Company. When used in this press release, the words “estimate”, “plan”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “anticipate” , “May” or “should” and the negative of these words or variations thereof or comparable terminology are intended to identify forward-looking statements and information. There can be no assurance that these transactions will produce results in accordance with management’s expectations. These statements and information reflect the Company’s current view with regard to the risks and uncertainties which may cause actual results to differ materially from those contemplated in such forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or other future events, to be materially different from results, performance. or future achievements expressed or implied by these forward-looking statements. These factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and related matters, risks associated with the cannabis industry, competition, regulatory changes, need for additional funding, reliance on key personnel, market size and price and volume volatility of the Company’s common shares. Forward-looking statements are made based on the beliefs, estimates and opinions of management at the date the statements are made, and the Company assumes no obligation to update any forward-looking statements if such beliefs, estimates and opinions or other circumstances had to change. Investors are cautioned against assigning undue certainty to forward-looking statements.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. These factors include, among others, risks associated with the activities offered by the Company, such as failure of business strategy and government regulation; risks related to the Company’s operations, such as additional financing needs and access to capital, the use of key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks associated with the Company and its activities in general; risks associated with regulatory approvals. The Company cautions that the foregoing list of important factors is not exhaustive. When relying on the Company’s forward-looking statements and information in making decisions, investors and others should carefully consider the above factors as well as other uncertainties and potential events. The Company has assumed some progress, which may not materialize. It has also assumed that the important factors mentioned in the preceding paragraph will not cause these forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that these assumptions will reflect the actual result of such items or factors. Although the Company may choose to do so, it does not undertake to update this information at any given time.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACH ANY IMPORTANCE TO FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AT ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.


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