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Giant hemp grower to buy marijuana cultivation license in Illinois
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Giant hemp grower to buy marijuana cultivation license in Illinois
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Red White & Bloom Brands Inc. (CSE:RWB) (OTCQX:RWBYF) is poised to acquire a THC cultivation license in Illinois alongside certain assets.
The Toronto-based will pick up the issued and outstanding shares of Cannabis Capital Partners Inc. (CCP), by issuing up to 22 million common shares to CCP s shareholders.
The acquisition allows RWB to concurrently purchase Shelbyville-based cultivation and manufacturing operation spanning 23,572 square feet, alongside related inventory and 2 acres of land.
By obtaining one of twenty-one original super licenses, the Prairie State issued, RWB has an option to expand the operation to include 220,000 square feet of THC cultivation canopy, bringing it to a total of approximately 450,000 square feet of cannabis operations.