COSTA MESA, CA, Dec 27, 2022 (GLOBE NEWSWIRE via COMTEX) -- COSTA MESA, CA, Dec. 27, 2022 (GLOBE NEWSWIRE) -- Rodedawg International Industries, Inc. (OTC: RWGI) provides 2022 calendar year-end shareholder update as the company continues to grow and expand in product and service offerings. Chris Swartz, CEO of Rodedawg Intl. Ind., states "We are pleased to announce to our shareholders the progress and expansion of the company to position Rodedawg as a market leader for creating and launching profitable cannabis brands, providing management services to licensed cannabis operators through California, and progress with our audit. We are focused to building a multi-million-dollar dispensary operation and management company in the $6 billion-dollar California cannabis market. We have started with our model of entering management contracts with licensed facilities, assessing true valuation, and ultimately acquiring the real estate and/or distribution centers they may own. We will focus only on immediate or near-term revenue producing opportunities."
Chris Swartz, CEO, adds, "We have a completed 2022 with completion of a major milestones on our road map to achieving a minimum $5mm+ in revenues in 1st year of operation. The acquisition of our first revenue generating cannabis brand, Tree Moguls (Tree Moguls - A Higher Class). which includes Augmented Reality (AR) and Virtual Reality (VR) embedded branding for the Tree Moguls(TM) 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 Southern California facility in which Rodedawg will manage a licensed cannabis dispensary and distributor. We believe the facility will generate over $5 million dollars in the first year of our management and is the most likely candidate for acquisition" continued Swartz.
Additionally, Company leadership has completed started the following goals and success milestones:
- PCOAB Audit to be completed during January 2023
- Submit the request to OTC Markets to remove Shell Status with Year End Disclosure
- Create additional products and brands that can be marketed through the licensed dispensaries the Company manages.
- Negotiations to expand our management contracts to include at least 1 more licensed dispensary and 1 more distribution facility before year end.
- 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
- In the coming days, the company will file September 30th, 2022 Year End Disclosures and will request Shell Status to be removed."
Success Milestones for 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
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 want our shareholders to be able to see the progress and successes visibly with accurate and ongoing reporting back to the shareholders. Our plan from the beginning has been positioning the Company for significant growth leading to OTCQB uplisting. In the coming days and weeks, our shareholders will be seeing the growth.Finally, our team wants to reiterate, that no reverse split is planned as we grow the Company."