Business
Rodedawg International Industries, Inc. (OTC: RWGI) Adds New Licensed Cannabis Facility to Management Portfolio
Rodedawg International Industries, Inc. (OTC: RWGI) Adds New Licensed Cannabis Facility to Management Portfolio.
About this update from Rodedawg International Industries, Inc.
[{"type":"text","content":"\n COSTA MESA, CA, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Rodedawg International Industries, Inc. (OTC: RWGI) proudly announces signing and execution of the contract for management of a multi-million-dollar dispensary set to open on or before January 2023. The facility is a California fully licensed cannabis operation with multiple cannabis licenses including cultivation, manufacturing, distribution, delivery, and retail dispensary. Chris Swartz states, “The management contract includes the completion of the remaining buildout and will allow our team to assess true valuation prior to tendering an offer for acquisition. This contract demonstrates that our relationships and expertise in the cannabis market is in high demand by operations needing direction, management, and economies of scale.” This contract positions Rodedawg to capitalize on a “roll-up” styled strategy to capitalize on management’s experience, relationships and resources in the cannabis industry. Chris Swartz, CEO, states, “Not only does this contract position Rodedawg for it’s first dispensary acquisition but also will generate several hundred thousand in monthly revenue while we assess the true value of the entire facility. Based on our initial assessment, we expect this facility will generate over $5 million dollars in the first year of our management and that before year end, our team will be in position to tender an offer.”  Mr. Swartz states, “In the coming weeks, we will continue to provide updates on our brand launches including Tree Moguls (Tree Moguls - A Higher Class) with updates including the increased distribution within established accounts in Los Angeles County. The company will also provide updates on beginning its PCOAB audit, removal of shell status, progress for cancellation of shares, and debt structure to acquire the fully licensed facility with a debt instrument can be repaid from the revenues generated from the facility we manage and eventually own. Lastly, our team is focused to increasing shareholder value and we want our shareholders to know that no reverse split is planned as we grow the Company.” About Rodedawg International Industries, Inc. Rodedawg International Industries, Inc. (OTC: RWGI) is focused on providing management services, acquisitions and restructuring assets th...