Buy It or Sell It? Red White & Bloom Brands Inc. (OTCMKTS:RWBYF) (CSE:RWB)

Red White & Bloom Brands Inc. (OTCMKTS:RWBYF) (CSE:RWB) stock ended lower on moderate volume Tuesday. The company release news after the market closed. The stock could be in action on Wednesday.

Major Trigger:

Red White & Bloom Brands Provides Update on Financial Statement Filings

Key Highlights:

• RWBYF provided 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, related CEO and CFO certificates and annual information form for the year ended December 31, 2020 (collectively, the “Documents”), further to its May 31, 2021 update.
• As of Friday, June 11, 2021, the Company has engaged Macias Gini & O’Connell LLP (“MGO”) as the successor auditor to replace MNP LLP (“MNP”). In connection with the appointment, the Company will be concurrently filing its change of auditor package with the securities commissions to reflect the appointment of MGO as its auditor.
• The Company and MGO, with the full support of MNP are working towards completing the audit and filing the Documents.
• The Company is not aware of any material issue with the auditor’s review. The Company continues to work diligently and expeditiously with its auditor to finalize the Documents.

Market Reaction

On Tuesday, RWBYF stock fell 4 cents or 3.85% to $1. Total volume for the session stood at 439K shares, compared to its average volume of 407K shares. The stock moved within a wide range of 0.9700 – 1.1000. Over the past 52-week, the stock has been trading within a range of $0.6040 – 1.6500.