- PV Live Resin will soon be carried in nearly 400 Michigan dispensaries and available to all Michigan dispensaries
- Line expansion into higher-margin Live Resin Vapes marks Platinum brand’s first new product in Michigan beyond the wildly popular distillate vape products, with many more to come
- Live resin sales in U.S. grew 86% since 2020
TORONTO and DETROIT, March 31, 2022 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) a multi-state cannabis operator and house of premium brands, and its RWB Michigan, LLC wholly owned subsidiary announce the debut of Platinum Vape™ (PV) Live Resin in Michigan. Previously only available in California and Oklahoma, PV Live Resin will soon be in the nearly 400 Michigan dispensaries that now carry Platinum products. PV Live Resin offers consumers a compact product with multiple consumption options that packs all the benefits of flower and the 80+ cannabinoids that work in synergy to bring the plant’s unique therapeutic qualities to life.
“As promised, the Red White & Bloom team is introducing a steady stream of new products and consumption options to satisfy consumer demand in the rapidly growing Michigan cannabis market,” stated Brad Rogers, Red White & Bloom Chairman and CEO. “In the U.S., live resin sales grew 86% since 2020, as reported by Greentank1. We believe this is just the tip of the iceberg for the live resin opportunity, since so many new cannabis consumers are totally unfamiliar with live resin and migrate to it once they learn more about cannabis and discover live resins’ many advantages.”
PV Live Resin captures and preserves the trichomes and terpenes of RWB’s premium cannabis strains to deliver a lush flavor profile and high potency experience for maximum enjoyment. RWB anticipates PV Live Resin will be extremely popular with customers because they know and trust the PV brand and can appreciate that PV now offers a new convenient and economical way to enjoy its pure, high quality cannabis’ full entourage effect.
Rogers added, “With our newly acquired cultivation, manufacturing and distribution centers in Michigan, we are streamlining our entire seed to sale processes and expediting the development and go-to-market timelines for new products. We’ve already begun expanding distribution of our PV branded products, including the new Live Resin line. Our PV line is now carried in nearly 400 of Michigan’s 460+ dispensaries.”
Although most frequently recognized as a leading, award-winning vape brand, RWB’s expanded Platinum Vape portfolio includes live resin, gummies, chocolates and premium cannabis flower that have proven to be very popular in California and other areas. The PV brand is extremely strong in Michigan, with ArcView/Greentank’s 2021 Q3 Industry Vape Report naming Platinum Vape as the #1 brand vape cartridge in Michigan, LeafLink naming it a Biggest Brand in Michigan, and winning a Thrillist “Best of 2020” Edible Award for its Baked Apple Pie Gummies and a Farmer’s Cup 2nd place for its Raspberry Cheesecake Chocolate Bar.
Michigan Cannabis Market Growth
The Michigan cannabis market’s growth is surpassing expectations, making it an ideal environment for RWB brand extensions. Michigan’s total cannabis sales for 2021 were $1.79 billion2 as reported in MJ Biz Daily, “The rapid growth in the past two years, driven by strong demand, has vaulted Michigan’s overall monthly sales ahead of those in more established markets such as Colorado. Combined sales of medical and recreational marijuana products in Michigan reached $168 million in December 2021, just shy of the $171 million monthly sales record set in July. Much of Michigan’s growth has been driven by recreational sales. Monthly sales have doubled since January 2021, with December sales topping $135 million.” 3
1 Green Tank North American Vape Market 2021 Year in Review. https://www.greentanktech.com/offer/industry-vape-report-2021/
2 Marijuana Moment https://www.marijuanamoment.net/michigan-breaks-another-marijuana-sales-record-for-december-state-officials-say/
3 MJ Biz Daily https://mjbizdaily.com/michigan-recreational-marijuana-sales-double-in-2021-lifting-overall-market/