COSTA MESA, CA, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Rodedawg International Industries, Inc. (OTC: RWGI) proudly announces year end updates with significant progress on our path to building a multi-million-dollar dispensary operation and management company in the $6 billion-dollar California cannabis market. Under the new leadership of Chief Executive Officer Chris Swartz, we will execute our model of entering management contracts with licensed facilities, assessing true valuation, and ultimately acquiring them, the real estate and/or distribution centers they may own. The cannabis industry is flooded with undercapitalized, poorly connected operations in need of direction, management, and economies of scale. Rodedawg has positioned itself to capitalize on a “roll-up” styled strategy to capitalize on management’s experience, relationships and resources in the cannabis industry. We will focus only on immediate or near-term revenue producing opportunities.
Chris Swartz, CEO, states, “We have a completed our year-end with tremendous strides on our road map to achieving a minimum $5mm+ in revenues in 1st year of operation. Our initial step was the acquisition of our first revenue generating cannabis operation, Tree Moguls (Tree Moguls - A Higher Class). Through this acquisition we acquired a deep technology stack which includes Augmented Reality (AR) and Virtual Reality (VR) embedded branding for the Tree Moguls™ brand, as well as the manufacturing and distribution reach within established accounts in Los Angeles County.
“We are also pleased to announce, that we signed a Binding Letter of Intent with a Southern California facility to manage a licensed cannabis dispensary and distributor. We expect to finalize the agreement before the end of the week that will generate over $5 million dollars in the first year of our management.” continued Swartz.
Additionally, Company leadership has agreed to the following goals and success milestones for 4th Quarter 2022.
- Finalize the Letter of Intent by November 11th, 2022 with formal announcement
- Begin PCOAB Audit with completion on or before January 2023
- With 2022 Year End Financials, the Company will submit the request to OTC Markets to remove Shell Status.
- Expand our management contracts to include at least 1 more licensed dispensary and 1 more distribution facility before year end.
- Create additional products and brands that can be marketed through the licensed dispensaries the Company manages.
- Completion of the cancellation of over 85 million common shares.
- Identify Funding Partner for Debt Structure to acquire licensed facility such that debt instrument can be repaid from the facilities we manage
Success Milestones for 1st Quarter 2023
- Complete Acquisition of a real estate and/or Licensed California dispensary and/or distribution center such that Rodedawg becomes a fully licensed cannabis corporation.
- Prepare for Uplisting
- Expand Product and brand development which lead to quarter over quarter revenue growth
The Company would also like to notify shareholders that our capital structure has not changed since the acquisition by Budding Horizon, LLC. As of last reporting from our transfer agent, Securities Transfer Corporation on 10/28/22, the outstanding common shares remain at 181,273,769 common shares and 8,597,306 common shares in the float.
Mr. Swartz states, “During the next six months, we will remain focused to the accomplishment of our success milestones and developing expanded shareholder value. We expect that with our efforts for expansion of brands with immediate revenues, continued work on cancellation of over 85 million shares, and expansion of management contracts that expand our revenues which in turn lead to acquisitions, we can confidently and steadfastly have Rodedawg become a recognized profitable cannabis licensed operation. We have already started the company on a healthy path with no dilution and we believe that with our debt funding strategy we can avoid dilutive financing. Finally, our team wants to reiterate, 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 throughout the regulated California cannabis market. We are a trusted partner and resource to licensed cultivation, distributors, manufacturers, and retail dispensaries. The Transfer Agent has verified the share structure has remained unchanged with 181,273,769 outstanding common shares and 8,597,306 common shares in the Float. Also note the company Twitter address is https://twitter.com/RWGImerger.
About Budding Horizon, LLC
Budding Horizon, LLC is California Limited Liability Company with offices in Orange County, California. The company is focused to providing management services for the licensed cannabis industry and seeks to leverage its expertise in the real estate acquisitions to acquire and develop a portfolio of assets.
The company website is https://buddinghorizon.com/
About Tree Moguls™
Tree Moguls™ established in early 2020 has rapidly become a premium cannabis lifestyle brand. The company has developed its own premium packaging brands and lifestyle clothing.
The company’s website is www.treemoguls.com
Tree Moguls™ social media accounts can be found at:
Cannabis Products: https://www.instagram.com/treemogulscanna/
Lifestyle Clothing: https://www.instagram.com/treemoguls/
Contact Information:
Rodedawg International Industries, Inc.
1-800-793-0355
ir@RWGIMerger.com
Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Rodedawg International Industries, Inc.
