Red White & Bloom Filing of annual financial statements

VANCOUVER, British Columbia and TORONTO, May 03, 2022 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (the “Company” or “RWB”) announces that due to delays in its audit, the Company’s annual financial statements and accompanying MD&A for the year ended December 31, 2021 (the “Annual Documents”) have not been finalized as of December 2 May 2022, the documents due date. The Company has applied for, and has been granted, a Management Cease Trade Order (the “MCTO”) by the British Columbia Securities Commission.

The delay is due to the complexity of acquisition transactions, divestitures and various delays caused by COVID-19, resulting in the Company and the auditor not having sufficient time and resources available to complete the audit within the allotted time. The Company is working with its auditor, Macias Gini & O’Connell LLP, to complete the audit as soon as possible. RWB will issue a press release announcing the completion of these filings and the postponement of the earnings conference call at that time.

Until the company files annual filings, it will adhere to the alternative disclosure guidelines set out in National Policy 12-203 – Management Cease Trade Order for issuers that have failed to comply in a timely manner with a specific continuous disclosure obligation. If required, the Company will issue press releases with default status reports every two weeks until the annual filings are filed.

During the MCTO, the general investing public will continue to be able to trade the Company’s publicly traded common stock. However, the CEO and CFO of the Company will not be able to trade in the common shares of the Company.

About Red White & Bloom Brands Inc.
Red White & Bloom is a multi-state cannabis operator and premium brand house in the legal cannabis and hemp industry in the United States. RWB primarily focuses its investments in key US markets, including Arizona, California, Florida, Illinois, Massachusetts and Michigan for cannabis, as well as in the US and internationally for hemp-based CBD products. For more information, visit the website: www.RedWhiteBloom.com, or follow RWB on social media:
Twitter: @rwbbrands;
Facebook: @redwhitebloombrands;
Instagram: @redwhitebloombrands

For more information about Red White & Bloom Brands Inc., please contact:
Tyler Troup, General Manager. Circadian Group IR, [email protected]

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

FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements and information based on management’s beliefs and reflecting the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “predict “, “may” or “should” and the negative of these words or such variations or comparable terminology are intended to identify forward-looking statements and information. There can be no assurance that these transactions will produce results consistent with management’s expectations. These statements and information reflect the Company’s current view regarding the risks and uncertainties that could 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 the results, performance or future achievements expressed or implied by such forward-looking statements. These factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, changes regulatory requirements, the need for additional financing, dependence on key personnel, market risks the size and volatility of the price and volume of the common shares of the Company. Forward-looking statements are made based on the beliefs, estimates and opinions of management as of the date the statements are made, and the Company undertakes no obligation to update any forward-looking statements if such beliefs, estimates and opinions or other circumstances were to change. Investors are cautioned against attributing undue certainty to forward-looking statements.

There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by the forward-looking statements and information. These factors include, among others, risks related to 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, dependence on key and qualified personnel, insurance, competition, intellectual property and supply chains. reliable supply; risks related to the Company and its business in general; risks related to 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 to make decisions, investors and others should carefully consider the foregoing factors as well as other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the important factors mentioned in the preceding paragraph will not cause such forward-looking statements and information to be materially different from actual results or events. However, the list of such factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. Although the Company may choose to do so, it does not undertake at any time to update this information.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE COMPANY’S EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACK UNBIDDEN IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AS OF ANY OTHER DATE. ALTHOUGH THE COMPANY MAY CHOOSE TO DO SO, IT DOES NOT OBLIGATE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED UNDER APPLICABLE LAW.

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