Business
Rodedawg (OTC: RWGI) Expands into Dispensary Acquisitions and Signs Letter of Intent for Dispensary License
Rodedawg (OTC: RWGI) Expands into Dispensary Acquisitions and Signs Letter of Intent for Dispensary License.
About this update from Rodedawg International Industries, Inc.
[{"type":"text","content":"\n COSTA MESA, Calif., June 06, 2024 (GLOBE NEWSWIRE) -- Rodedawg International Industries, Inc. (OTC: RWGI) is proud to announce a significant strategic move including signing a Letter of Intent (LOI) for the dispensary's license acquisition, further solidifying RWGI's presence in the burgeoning cannabis market. The Costa Mesa dispensary is licensed and registered with the state of California, ensuring compliance with all state regulations and standards. This acquisition aligns with RWGI's strategic goals of expanding its footprint and enhancing its brand presence in the competitive cannabis industry. Located in the heart of Orange County, the Costa Mesa dispensary is situated in a high-density area, ensuring maximum visibility and accessibility. The strategic location in west side Costa Mesa serves the affluent communities of Newport Beach and Huntington Beach - both cities where cannabis licenses are still not allowed. This prime location is expected to generate annual revenues between $5 million and $7 million, marking a substantial financial milestone for RWGI. \"This acquisition represents a major step forward for Rodedawg International Industries,\" said Chris Swartz, CEO, of RWGI. \"The terms of the LOI include seller financing for the remaining Tenant Improvements (TI’s) so this acquisition has low capital needs for entry. Not only does it provide a proprietary location for our Rodedawg brands, but it also allows us to serve a large and growing customer base in a key market while proving our business model to grow through low cost acquisitions as per our Corporate Roadmap.\" Rodedawg International Industries is committed to delivering high-quality cannabis products and exceptional service to its customers. The new dispensary will feature a wide range of Rodedawg branded products, offering customers a unique and reliable source for their cannabis needs. As RWGI continues to grow, the company remains dedicated to innovation, quality, and customer satisfaction. This latest acquisition is a testament to RWGI's ongoing efforts to expand its market share and deliver value to its stakeholders. About Rodedawg International Industries, Inc. Rodedawg International Industries, Inc. (OTC: RWGI) is focused on providing management services, acquisitions and restructuring resources throughout the regulated California cannabis ma...