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