Red White & Bloom closes divestiture of Florida operations to M&V Investment One

• Red White & Bloom closed a previously disclosed divestiture of its Florida operations to M&V Investment One and affiliates, following receipt of required state approval.
• Deal expected to remove about CAD 123.2 million of liabilities from consolidated accounts, lifting future funding obligations tied to the Florida business.
• RWB expects to derecognize CAD 140.9 million of assets, book an estimated non-cash gain of about CAD 47.7 million.
• Transaction includes M&V’s purchase of a senior secured promissory note from Royal Group Resources, plus acquisition of intercompany debt instruments.
• M&V assumed obligations underlying RWB’s guarantees tied to the Florida business, providing full releases from those guarantees.

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