Mr. Colby De Zen reports

RED WHITE & BLOOM LAUNCHES PLATINUM IN OHIO FOLLOWING SUCCESSFUL VOTE FOR ADULT-USE MARIJUANA LEGALIZATION

Red White & Bloom Brands Inc. has entered into the rapidly growing Ohio cannabis market through the execution of a licensing arrangement with a first-mover, vertically integrated Ohio distributor. This strategic partnership allows Red White & Bloom to leverage the distributor's retail network to introduce its renowned Platinum vape cartridges and disposable vapes, available in various formats, across more than 90 licensed retail locations in the state.

Colby De Zen, president of Red White & Bloom, expressed enthusiasm about the company's recent entry into Ohio: "RWB takes great pride in expanding its presence in emerging adult-use markets in the United States. Ohio represents another pivotal entry point for RWB, allowing us to leverage the continually strengthening brand equity of Platinum, which has consistently excelled in the vape categories in neighbouring Michigan. RWB remains focused on ensuring that each of its expansion efforts are reinforced by well-established licensing partners who recognize the value of premium Platinum cannabis products. These partners contribute to enhancing the consumer experience and also possess the commercial capacity to meet the growing demand for our esteemed Platinum product line, supported by RWB's targeted marketing efforts."

The launch of Platinum vape products in Ohio aligns seamlessly with the state's evolving cannabis landscape. The approval of Ohio's adult-use marijuana legalization ballot measure on Nov. 7, 2023, marks a milestone for the state, positioning it as the 24th state to adopt progressive cannabis reform. Adult-use sales in Ohio have been projected to total between $1.5-billion to $2-billion in the first year, postlegalization, reaching $3.5-billion to $4-billion by the fourth year, further underlining the immense potential of this market. The yes vote in Ohio means people aged 21 and over in the state will be able to use, grow or sell marijuana under a regulation-and-tax program imposed by the state. The measure takes effect in 30 days.

Further to the news release issued on Oct. 30, 2023, the company has closed the asset purchase by a wholly owned subsidiary of the company and issued 700,000 common shares at a deemed price of six cents per share as final consideration for the asset purchase. All securities issued pursuant to the asset purchase are subject to a statutory hold period which will expire on March 8, 2024.

About Red White & Bloom Brands Inc.

Red White & Bloom is a multistate cannabis operator and house of premium brands in the U.S. and Canadian legal cannabis sectors. Red White & Bloom is predominantly focusing its investments on the major U.S. markets, including Arizona, California, Florida, Massachusetts, Missouri, Michigan, Ohio and targeted Canadian markets.

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