Exhibit 99.1

Red White & Bloom Brands Provides Update on Financial Statement Filings

TORONTO, July 2, 2021 (GLOBE NEWSWIRE) -- Red White & Bloom Brands Inc. (CSE: RWB and OTCQX: RWBYF) (“RWB” or the “Company”), a multi-state cannabis operator and house of premium brands, is providing an update with respect to the filing of the Company’s audited annual financial statements for the year ended December 31, 2020, the related management’s discussion and analysis and related CEO and CFO certificates for the year ended December 31, 2020 (collectively, the “Documents”), further to its June 15, 2021 update.

The Company and Macias Gini & O’Connell LLP (“MGO”), with the full support of MNP LLP (“MNP”) continue to work towards completing the audit and filing the Documents in a timely manner.

The Company continues to work diligently and expeditiously with MGO to finalize the Documents. The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the annual filing requirements. The Company will issue a news release announcing completion of filing the Documents in due course.

As previously disclosed in the June 15, 2021 update, the delay in completing the filing of the Documents was due to the Company’s previous auditor MNP not completing its audit procedures in advance of the filing deadline due to a health problem with the audit partner on the Company’s file.

About Red White & Bloom Brands Inc.

 

The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Massachusetts, Arizona and California with respect to cannabis, and the US and internationally for hemp-based CBD products.

 

For more information about Red White & Bloom Brands Inc., please contact:

 

 

Brad Rogers, CEO and Chairman

604-687-2038

 

Tyler Troup, Managing Director
Circadian Group IR
IR@RedWhiteBloom.com

 

Visit us on the web: www.RedWhiteBloom.com




Follow us on social media:

Twitter: @rwbbrands

Facebook: @redwhitebloombrands

Instagram: @redwhitebloombrands

 

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 that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.  There is no assurance that these transactions will yield results in line with management expectations. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

 

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such 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, regulatory change, the need for additional financing, reliance on key personnel, market size, and the volatility of the Company’s common share price and volume.  Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that s