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Been saying this is $10 stock easy... once revenues 5-10 million a quarter i think we get there
Someone on the Canadian side bought big @4.00 Canadian. If price holds at $4.10 Canadian, that equates to $3.12 on the U.S. side! Rubicon Organics starting to get noticed.
Rubicon Organics Expands 2.0 Offering with PAX LABS® Partnership
VANCOUVER, BRITISH COLUMBIA – Oct 6, 2020
Rubicon Organics’ to fill organic cannabis oil pods for the PAX® ERA™ and PAX® ERA Pro™ premium vaporizers
Expected launch across Canada in H1 2021
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified and premium cannabis, is pleased to announce that it has entered into a distribution agreement with PAX Labs, Inc., a leader in premium cannabis vaporization technology.
PAX
Under the agreement, Rubicon Organics expects to launch pods for the closed-loop PAX ERA system under its Simply Bare™ Organics brand, filled with extracts formulated with its organic cannabis cultivated in Delta, BC.
PAX pods are expected to be available for distribution in the first half of 2021.
The agreement represents the Company’s second partnership for the distribution of cannabis 2.0 products following the agreement with Wildflower Brands Inc. (CSE:SUN) to manufacture and distribute Wildflower CBD Relief Stick and CBD Cool Sticks.
“This agreement matches the highest quality organic cannabis products and the highest quality vaporizer devices for Canadian consumers. Our organic cannabis delivers a very rich terpene profile through our proprietary cultivation techniques for the discerning cannabis consumer,” said Jesse McConnell, Chief Executive Officer. “We look forward to partnering with PAX, as their devices are proven best-in-class and have been developed to maximize the user experience.”
“Our innovation pipeline is building momentum,” said Tim Roberts, President. “This exciting partnership with PAX, enables us to accelerate our premium 2.0 product range into vape products. We expect to also leverage this technology partnership with our new brands and rare new strains that we expect to launch into the Canadian market in the near term.”
“We are thrilled to be bringing Rubicon Organics’ premium, organic certified and sustainably produced cannabis to our PAX customers,” said Tim Pellerin, General Manager Canada and International, PAX Labs. “Both brands share an ethos of quality and craftmanship, and we look forward to delivering a highly personalized, terpene-rich experience to discerning cannabis consumers across Canada early next year.”
TSV-V: ROMJ OTCQX: ROMJF
Rubicon Organics to Present at the 2020 Virtual US Cannabis Symposium Hosted by Canaccord
VANCOUVER, BRITISH COLUMBIA – Sep 24, 2020
Rubicon Organics Inc. (TSXV:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, is pleased to announce that Jesse McConnell, CEO, will be presenting at the 2020 Virtual US Cannabis Symposium, hosted by Canaccord Genuity Capital Markets, on Wednesday, September 30, 2020.
Mr. McConnell will be hosting a live presentation at 1:30pm EDT (10:30am PST) and will be available for one-on-one meetings with investors.
Rubicon Organics to Commence Trading on the
TSX Venture Exchange
VANCOUVER, BRITISH COLUMBIA – Sep 18, 2020
Trading on TSX Venture Exchange to commence September 22, 2020 under ticker symbol ROMJ
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, is pleased to announce that further to its press release dated July 27, 2020, the Company has received final approval to list its common shares and 3,150,000 warrants of the Company on the TSX Venture Exchange (the “TSX-V”).
The common shares and warrants of the Company are expected to be voluntarily delisted from the Canadian Securities Exchange at the close of trading on September 21, 2020 and are expected to commence trading on the TSX-V at the opening of trading on September 22, 2020. The Company’s common shares will continue to trade under the symbol “ROMJ” and its warrants will continue to trade under the symbol “ROMJ.WT”.
“Rubicon Organics is listing on the TSX-V to increase the liquidity of our common shares and raise our profile in the capital markets. Having recently closed an equity financing during very challenging market conditions, we have secured the balance sheet we require to execute on a very exciting pipeline of milestones which includes ramping production and revenue at our Delta, BC facility, expanding our distribution capabilities and investing in product innovation showcasing our super-premium and organic certified cannabis,” said Jesse McConnell, Chief Executive Officer.
Rubicon Organics Signs Licensing Agreement with Wildflower for Topical Cannabis Products
VANCOUVER, BRITISH COLUMBIA – Sep 16, 2020
First agreement for Rubicon Organics to enter 2.0 market
Leverages Rubicon Organics’ production, distribution and sales infrastructure
Sales expected to commence in the first half of 2021
Rubicon Organics Inc. (“Rubicon Organics” or the “Company”) (CSE:ROMJ | OTCQX:ROMJF), is pleased to announce that it has entered into a brand licensing agreement (the “Agreement”) with Wildflower Brands Inc. (“Wildflower”)(CSE:SUN).
Under the Agreement, Wildflower will license its brand and intellectual property to Rubicon Organics for the production of Wildflower-branded CBD Relief Sticks and CBD Cool Sticks in Canada (collectively “Wildflower Products”). Rubicon Organics will manufacture and distribute the Wildflower Products in Canada with product launch expected to be in the first half of 2021.
“Wildflower has developed a track record as a trusted brand with proven intellectual property and consumer appeal. The market for topicals is still greenfield in Canada and Rubicon Organics is excited to be one of the first companies to launch products in this market segment, planned for release in the first half of 2021. Our agreement with Wildflower fits inside our portfolio of premium products and allows us to leverage our sales, marketing and operating expertise,” says Jesse McConnell, Chief Executive Officer.
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Click here to view Press Releases
About Rubicon Organics Inc.
Rubicon Organics Inc., through its wholly owned subsidiary Vintages Organic Cannabis Company Inc., holds a license to cultivate and process certified organic, premium cannabis at its flagship 125,000 sq. ft. state-of-the-art hybrid greenhouse located on a 20-acre property in Delta, BC, Canada. The Company is focused on achieving industry leading profitability through the development of the brand identity Simply Bare™ Organic, that combines the sale of high-margin, premium organic products with low-cost sustainable production. The Company is currently ramping up to production capacity of 11,000 kg per year of certified organic and environmentally sustainable cannabis.
About Wildflower Brands Inc.
Wildflower is a Vancouver-based pioneer in the cannabis industry that develops, designs and operates brands throughout North America. Wildflower’s brands work together to make Wildflower a leader in cannabis innovation throughout the globe. The Company operates British Columbia’s largest retail cannabis chain under the brand City Cannabis Co.
Contact Information
Corporate:
Margaret Brodie
Chief Financial Officer
+1 (437) 929-1964
ir@rubiconorganics.com
Cautionary Statement Regarding Forward Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding Rubicon Organics' proposed brand launches and path to market are "forward-looking statements". Forward-looking information can be identified by the use of words such as “will” or variations of such word or statements that certain actions, events or results "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including the timing of the launch of Wildflower Products and the timing of future product launches by Rubicon Organics. Risks and uncertainties associated with the forward looking information in this press release include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits for construction at its facilities in a timely manner; regulatory or political change such as changes in applicable laws and regulations, including bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Rubicon Organics' limited operating history and lack of historical profits; reliance on management; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and the effects of the COVID-19 pandemic. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Although Rubicon Organics has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Rubicon Organics, 505 – 744 West Hastings Street, Vancouver, British Columbia V6C1A5, Canada
RUBICON_Logo_Trimmed_Blue
CORPORATE NEWSLETTER - AUGUST 2020
MONTH IN REVIEW
“Last week, we reported our Q2 2020 results. It was an exceptional quarter in terms of expanding our distribution capabilities and strengthening our balance sheet. We have also started to demonstrate the trajectory of our revenue growth, increasing gross revenue to $1.2 million in the quarter, from $0.5 million in Q1. We are very humbled by the excellent reviews we continue to receive from our customers, and we have a full pipeline of opportunities to both expand our distribution and our suite of organic products. We have only just begun to realize the potential of Rubicon Organics and we are truly excited for what lies ahead.”
Jesse McConnell, Chief Executive Officer.
ANALYST REPORTS
Desjardins - Target Price raised from $4.00 to $4.50
"2Q Results - Progressing as expected; raising our targets as steady state production begins."
Click to read the report
Haywood Capital Markets- Target Price raised from $3.50 to $4.20
"Rubicon filed its Q2/20 financial statements and MD&A this morning with results that were slightly better than our expectations."
Click to read the report
NEWS COVERAGE
Rubicon Organics Reports Second Quarter Financial Results and Operational Milestones
Achieved first full quarter of fully planted cultivation at Delta, BC facility
Established recreational market distribution from BC to Ontario, covering 71% of the Canadian population, and formed distribution channels for Canadian and German medical markets
Closed $13.5 million private placement to optimize Delta, BC facility and launch cannabis 2.0 products
“Our team at Rubicon Organics achieved a number of very significant milestones in Q2 2020. The result is a strong foundation for the distribution of our premium and organically cultivated cannabis products and the financial resources to secure the execution of our strategy. In particular, we have expanded our distribution channels across Canada from British Columbia to Ontario, received licensing to access the Canadian medical market and established a partnership that will open distribution in Germany in 2021. With $12.5 million in cash at quarter end, our facility is running at full utilization and we have the resources to fund our growth into all these markets, achieve our financial goals and to expand our product line through innovation of high quality and sustainably produced cannabis products,” said Jesse McConnell, Chief Executive Officer.
Second Quarter Highlights:
Increased quarterly gross revenue sequentially to $1.2 million in Q2 2020 from $0.5 million in Q1 2020;
Achieved full cultivation utilization at the Company’s Delta, BC facility with eight SKUs now on shelves across the country;
Received a medical sales license from Health Canada;
Received a sales amendment from Health Canada to sell dried and fresh cannabis products for recreational use directly to all provincial and territorial distributors;
Announced direct supply agreements with the Alberta Gaming, Liquor & Cannabis (“AGLC”), British Columbia Liquor Distribution Branch (“BCLDB”) and the Ontario Cannabis Store (“OCS”);
Signed a three-year product supply agreement with Canacur GmbH, a medical cannabis distributor in Germany, with first shipment expected in the first half of 2021, pending Rubicon Organics’ EU-GMP certification;
Completed a private placement of common shares and common share purchase warrants for gross proceeds of $13.5 million, with proceeds to be used to optimize the Company’s Delta, BC facility and to launch cannabis 2.0 products; and
Subsequent to quarter-end, received conditional approval to list on the TSX Venture Exchange (“TSXV”).
Click for Press Release
Rubicon Announces results of the Annual General Meeting
Rubicon Organics Inc is pleased to announce the voting results from its Annual General Meeting of the Shareholders (the “Meeting”), held by way of live audio webcast on August 19, 2020.
The total number of common shares of Rubicon Organics (“Common Shares”) represented by shareholders present during the live audio webcast and by proxy at the Meeting was 21,449,543 Common Shares, representing 46.9% of the Company’s total issued and outstanding Common Shares as of the record date.
All of the matters put forward before shareholders for consideration and approval as set out in Rubicon Organics’ management information circular for the Meeting dated July 13, 2020 (the “Circular”) were approved by the shareholders. In particular, all nominees set forth in the Circular, Jesse McConnell, Margaret Brodie, Bryan Disher, David Donnan, and John Pigott, were elected as directors of the Company.
In addition, Deloitte LLP was appointed as the Company’s auditors for the ensuing year with the Company’s directors authorized to fix their remuneration, and disinterested shareholder approval was obtained to approve amendments to the Company’s Equity Incentive Plan and Deferred Share Unit Plan, as more particularly set out in the Circular.
Option Grant
In addition, the Company has granted stock options for a total of 92,500 Common Shares to employees of the Company in accordance with the Company's equity incentive plan. The stock options are exercisable at $3.33 per share for a period of five years from the date of grant.
Click for Press Release
ANALYST COVERAGE
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HAYWOOD
Analyst: Neal Gilmer • (416) 507-2759 • Wilmer@Haywood
DESJARDINS
Analyst: John Chu • (416) 607-3109 • john.chu@desjardins.com
MACKIE RESEARCH
Analyst: Greg McLeish • (416) 860-8633 • gmcleish@mackieresearch.com
Been in a nice up trend lately. Still very under the radar especially in the US. Uplist on the Canadian exchange should help exposure. At least on the Canadian side.
11,000kg=11,000,000 grams @ $5 gross profit/gram = $55,000,000 gross profit.
Check out this video! Pay attention to the management team that gets mentioned at the end!
https://www.b-tv.com/rubicon-organics-super-premium-cannabis-feature-ep-343/
Just read some of the reviews
Here are just a couple about Rubicon’s Simply Bare Blue Dream
**I'm seriously not over stating this, Blue Dream has been a big game changer for me. Of the four I've had:
Simply Bare was best by far.
Spinach good time but very dry and harsh.
Canna farms crap at premium prices
Aurora, tried it no motivation to open that jar ever again.
**The Canna Farms cuts of Blue Dream and Chemdawg are both just bad phenotypes. I bought them once and that’s it. ????
I won’t be buying any Aurora products again unless I know quality and consistency has gone way up.
**Well as promised, here is my follow up. :) BEST smelling cannabis I have EVER purchased! It smells nothing like any other blue dream from any LP currently and that's a good thing!! And nice trichomes and very sticky. I just can't believe that blueberry and mild citrus..
CEO Jesse McConnell’s twitter page
https://twitter.com/jesse_now?lang=en
Rubicon Organics Receives Conditional Approval to List on the TSX Venture Exchange
VANCOUVER, BRITISH COLUMBIA – July 27, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that it has received conditional approval to list the common shares and 3,150,000 warrants of the Company on the TSX Venture Exchange (the “TSX-V”). The listing is subject to the Company fulfilling certain requirements of the TSX-V in accordance with the terms of its conditional approval letter dated July 23, 2020.
The Company is actively working to satisfy these conditions over the coming weeks and expects to commence trading on the TSX-V in September 2020. The Company will issue a further press release to inform shareholders once final approval has been obtained. The Company anticipates that the common shares will trade under the trading symbol “ROMJ” and the warrants will trade under the symbol “ROMJ.WT”.
“Moving our listing from the Canadian Securities Exchange to the TSX-V marks another important milestone on our journey to become Canada’s leading organic cannabis company”, stated Jesse McConnell, CEO of Rubicon Organics. “We believe that listing on the TSX-V will provide the Company and its shareholders with greater liquidity and enhanced market access for Canadian and international investors.”
Rubicon Organics to Hold Annual General Meeting
VANCOUVER, BRITISH COLUMBIA – July 21, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) will hold its annual general meeting (the “Meeting”) of shareholders at 10:00 am PT on August 19, 2020 virtually via live audio webcast online at https://web.lumiagm.com/255240996 for the following purposes:
to receive the audited financial statements of the Company for the financial year ended December 31, 2019, together with the report of the Company’s auditors thereon;
to elect directors of the Company for the ensuing year;
to appoint Deloitte LLP as the Company’s auditors for the ensuing year and to authorize the directors to fix the auditors’ remuneration;
to approve amendments to the Company’s Equity Incentive Plan as set out in Schedule “A” of the Company’s management information circular (the “Circular”) for the Meeting;
to approve amendments to the Company’s Deferred Share Unit Plan as set out in Schedule “B” of the Circular; and
to transact such other business as may properly come before the Meeting or any adjournment thereof.
Shareholders should refer to the Circular for more detailed information with respect to the matters to be considered at the Meeting. The Circular and other Meeting materials also contain important information with respect to voting your Common Shares, attending the Meeting online and participating at the Meeting.
Registered Shareholders and duly appointed proxyholders will be able to attend, participate and vote at the Meeting online. Shareholders who hold their Common Shares through a broker, investment dealer, bank, trust company, custodian, nominee or other intermediary (“Beneficial Shareholders”) who have not duly appointed themselves as proxyholder will be able to attend as guests and listen to the webcast but will not be able to participate or vote at the Meeting.
The record date for the Meeting is July 13, 2020. The notice of Meeting, accompanying Circular and related Meeting materials are now available under the Company’s profile on SEDAR.
Rubicon Organics Announces Product Supply Agreement with German Cannabis Distributor, Canacur GmbH
VANCOUVER, BRITISH COLUMBIA – June 22, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that it has signed a product supply agreement (the “Agreement”) with canacur GmbH, a medical cannabis distributor incorporated in Nuremburg, Germany (“Canacur”). Pursuant to the Agreement, Canacur shall purchase dried cannabis from Rubicon Organics for an initial term of three years, with two optional two-year extensions available. The Company expects first exports in the first half of 2021, pending EU-GMP certification.
“We are excited to bring our high-quality cannabis to German medical patients”, stated Jesse McConnell, CEO of Rubicon Organics. “This milestone agreement with Canacur provides another route to market and access to the fast-growing German medical market.”
As part of the Agreement, Canacur has agreed to provide the Company up to $700,000 as advance payment for product, which will be secured behind existing secured lenders on the Company’s facility in Delta, British Columbia. This advance payment assists the Company to prepare for EU-GMP processing and certification.
Rubicon Organics Announces Supply Agreements with the Ontario Cannabis Store
VANCOUVER, BRITISH COLUMBIA – June 18, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that it has signed a direct supply agreement with the Ontario Cannabis Store (“OCS”) for the sale and distribution of Simply Bare™ Organic cannabis to provincial and private cannabis retailers. Rubicon Organics now has direct supply agreements in place for British Columbia, Alberta and Ontario, and a distribution arrangement with Agro-Greens Natural Products Ltd. (“Agro-Greens”) to continue to sell our cannabis products in Saskatchewan and Manitoba.
“Ontario has the largest population in Canada and having a direct supply agreement with the OCS is a critical component to Rubicon Organics’ national recreational rollout” stated Jesse McConnell, CEO.
Prior to the initiation of the OCS supply agreement, the Company’s Simply Bare™ Organic cannabis was initially introduced in Ontario by Agro-Greens.
Rubicon Organics Announces Supply Agreements with AGLC (Alberta) and BCLDB (British Columbia) & Achieves Sales Access to All of Western Canada
VANCOUVER, BRITISH COLUMBIA – June 15, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that it has signed supply agreements with both Alberta Gaming, Liquor & Cannabis (“AGLC”) and the British Columbia Liquor Distribution Branch (“BCLDB”) for the sale and distribution of Simply Bare™ Organic cannabis to provincial and private cannabis retailers. Rubicon Organics, together with its distribution arrangement with Agro-Greens Natural Products Ltd. (“Agro-Greens”), now sells its products to all four western Canadian provinces and Ontario.
“Building a direct supply relationship with the BCLDB is critical to success in our home province of British Columbia and will allow Rubicon Organics to more quickly fulfill and deliver orders” stated Jesse McConnell, CEO. “I am thrilled that Simply Bare™ Organic cannabis will be available for the first time in Alberta given the size and dynamic nature of the cannabis retail landscape that AGLC has built.”
Initial purchase orders and shipments directly from Rubicon’s Delta, BC facility are expected in the next week. Prior to the initiation of the BCLDB supply agreement, the Company’s Simply Bare™ Organic cannabis was initially introduced in British Columbia by Agro-Greens.
AGLC is responsible for regulating private retail cannabis, the distribution of cannabis and operation of Alberta's only legal online cannabis store, AlbertaCannabis.org, while the BCLDB is the sole wholesale distributor and public retailer of non-medical cannabis in British Columbia.
One of the investors involved in the recent private placement
https://www.globenewswire.com/news-release/2020/06/01/2041530/0/en/Press-Release-for-Early-Warning-Report-Regarding-Rubicon-Organics-Inc.html
RUBICON ORGANICS CLOSES FIRST TRANCHE OF UPSIZED PRIVATE PLACEMENT FOR $11.5 MILLION
VANCOUVER, BRITISH COLUMBIA – May 29, 2020
Rubicon Organics Inc. (CSE: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced upsized non-brokered private placement of 4,893,617 units of the Company (“Units”) at a price of $2.35 per Unit for aggregate gross proceeds of $11.5 million (the “First Tranche Offering”).
Each Unit is comprised of one common share of the Company (each, a “Common Share”) and one Common Share purchase warrant of the Company (each, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $3.25 per Common Share at any time during the 12-month period following the closing date of the First Tranche Offering.
The Company intends to use proceeds from the First Tranche Offering for optimization of its Delta, BC facility (including a lights upgrade and outdoor grow), the launch of cannabis 2.0 products and for working capital and general corporate purposes.
The securities issued under the First Tranche Offering have a statutory hold period of four months and one day from the closing date of the First Tranche Offering. The Company has applied to the Canadian Securities Exchange (the “CSE”) for listing approval for the Common Shares underlying the Units and Common Shares to be issued upon exercise of the Warrants.
Click here to view Press Releases
About Rubicon Organics Inc.
Rubicon Organics Inc., through its wholly owned subsidiary Vintages Organic Cannabis Company Inc., is a licensed producer focused on cultivating and selling organic certified, super-premium cannabis from its flagship 125,000 sq. ft. state-of-the-art hybrid-greenhouse located on a 20-acre property in Delta, BC, Canada. The Company is focused on achieving industry leading profitability through the development of the brand identity Simply BareTM Organic, that combines the sale of high-margin, super-premium organic products with low-cost sustainable production. The Company is currently ramping up to production capacity of 11,000 kg per year of organic certified and environmentally sustainable cannabis.
Contact Information
Corporate:
Margaret Brodie
Chief Financial officer
+1 (437) 929-1964
ir@rubiconorganics.com
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release.
RUBICON ORGANICS ANNOUNCES FURTHER UPSIZE OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT TO $13.5 MILLION
VANCOUVER, BRITISH COLUMBIA – May 27, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that, due to a further increase in investor demand, it has increased its previously announced upsized non-brokered private placement offering to up to 5,744,681 units of the Company (“Units”) at a price of $2.35 per Unit for gross proceeds of up to $13.5 million (the “Offering”). Each Unit shall be comprised of one common share of the Company (each, a “Common Share”) and one Common Share purchase warrant of the Company (each, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $3.25 per Common Share at any time during the 12-month period following the closing date of the Offering.
“We are pleased to receive a significant $2.35 million investment from a sophisticated investor who we are proud to welcome to our shareholder base,” stated Jesse McConnell, CEO.
As previously announced, the CEO and a significant shareholder of the Company are participating, collectively, for approximately $2.1 million of the Offering. The Offering is scheduled to close on or about May 29, 2020 and is subject to a number of conditions. The securities to be issued under the Offering will have a statutory hold period of four months and one day from the closing date of the Offering. The Company will apply to the Canadian Securities Exchange (the “CSE”) for listing approval for the Common Shares underlying the Units and Common Shares to be issued upon exercise of the Warrants.
The Company intends to use the proceeds from the Offering for the optimization of its Delta, BC facility (including additional LED light upgrade and outdoor grow), accelerating the launch of cannabis 2.0 products and for working capital and general corporate purposes
Hold on just a sec, let me grab a few more at these prices.
2019 annual financials
https://s24.q4cdn.com/806837715/files/doc_financials/2019/q4/2019-Annual-MD-A.pdf
Simply Bare™, Rubicon's Certified Organic Brand, to be Available in Ontario
VANCOUVER, BRITISH COLUMBIA – April 20, 2020
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce the launch of its certified organic flower brand, Simply BareTM Organic into Ontario where it will be available in stores and online (ocs.ca) in the coming weeks.
Rubicon Organics, together with Agro-Greens Natural Products Ltd., has signed a supply agreement with the Ontario Cannabis Store for the Company’s certified organic flower.
“Following the positive consumer response in British Columbia and Saskatchewan, launching Simply BareTM Organic in Ontario, Canada’s largest market, is the natural next step for Rubicon Organics. We believe that consumers will love our terpene rich certified organic flower,” stated Jesse McConnell, CEO of Rubicon Organics.
I can’t believe they’ve gone unnoticed by the US investors for so long. I have a feeling that will change now that they are up and running.
Bout damn time. Only Canadian company worth investing in. Steady growth plan. Organic ultra premium weed always will sell regardless of price. And has a footprint in the USA
“The consumer is going to tell you if your product is premium or not” Jesse McConnell.
Any guesses as to where Rubicon is at with revenues in the 4th qt? Should be up substantially due to the sales of their latest harvest. Quality always sells and can command a premium price.
Looks like they are selling top of the line organic cannabis to me. Picked up a few more shares this morning. I have officially crossed the Rubicon.
Well kept secret? People are just slow to catch on to this one, and this one is gonna be good one. All a person has to do is look at the management here and you know it’s gonna Doing great!
Why isn’t anyone following this!?
This last offering was at $2.70 Canadian, which is about $2.10 US. Looks like the current price of $1.70 US is a heck of a bargain. First harvest should be this sept/oct.
News Article
Press Release: Rubicon Organics Inc. Announces Closing of $8,505,000 Overnight Marketed Offering
8:54am ET 8/23/2019 Dow Jones
Rubicon Organics Inc. Announces Closing of $8,505,000 Overnight Marketed Offering
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
VANCOUVER, British Columbia, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (CSE: ROMJ) (OTCQX: ROMJF) ("Rubicon Organics" or the "Corporation") is pleased to announce that it has closed its previously announced overnight marketed short form prospectus offering (the "Offering") of 3,150,000 units of the Corporation (each, a "Unit") at a price of $2.70 per Unit for aggregate gross proceeds of $8,505,000.
"We are very proud to close this overnight offering of Units and grateful for the support of both new and existing investors amidst choppy market conditions," stated Jesse McConnell, Chief Executive Officer and Co-Founder of Rubicon Organics. "These funds will enable us to continue the optimization of our flagship facility in Delta, B.C. to supply super-premium, certified-organic cannabis to the Canadian marketplace."
Each Unit is comprised of one common share (each, a "Common Share") and one Common Share purchase warrant of the Corporation (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (each, a "Warrant Share") at a price of $3.50 per Warrant Share for a period of 30 months following the closing of the Offering, subject to an accelerated expiry if the volume-weighted average price of the Common Shares on the Canadian Securities Exchange (the "CSE") (or other applicable exchange) is equal to or greater than $3.80 per Common Share for 20 consecutive trading days. It is expected that the Warrants will begin trading on August 23, 2019 on the CSE under the symbol "ROMJ.WT".
The Offering was made pursuant to an agency agreement dated August 12, 2019 (the "Agency Agreement") among the Corporation and a syndicate of agents led by Desjardins Capital Markets and including Canaccord Genuity Corp., PI Financial Corp. and Mackie Research Capital Corporation (collectively, the "Agents"). Pursuant to the Agency Agreement, the Agents received a cash commission equal to 6% of the gross proceeds of the Offering and broker warrants equal to 6% of the Units sold under the Offering (each, a "Broker Warrant"). Each Broker Warrant is exercisable for one Common Share (each, a "Broker Warrant Share") at any time up to 24 months following the closing date of the Offering at an exercise price of $2.70 per Broker Warrant Share.
The Corporation intends to use the proceeds from the Offering for the continued optimization of its Delta BC facility and general corporate and working capital purposes.
The Units were issued pursuant to a short form prospectus dated August 16, 2019, filed with the securities regulatory authorities in each of the provinces of Canada, other than Québec (the "Prospectus"). A copy of the Prospectus is available under the Corporation's profile on SEDAR at www.sedar.com.
THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. is a licensed cannabis producer focused on building certified organic, super-premium cannabis brands at its flagship 125,000 sq. ft. state-of-the-art hybrid greenhouse located on a 20-acre property in Delta, BC, Canada. Management has unparalleled cannabis and organic farming expertise as well as prior successful commercialization of cannabis with Whistler Medical Marijuana Company, which was purchased by Aurora Cannabis in January 2019 for $175 million.
The Corporation is currently ramping up to achieve an annual production run rate of approximately 11,000 kg of certified organic, super-premium and environmentally sustainable cannabis in 2020 and is also focused on creating super-premium brands in Canada. In the United States, the Corporation owns a 40,000 square-foot, high-tech hybrid greenhouse in Washington state which is leased to a state-licensed operator applying Rubicon Organics' proprietary organic cultivation methods. The Corporation also owns two award-winning U.S. cannabis brands: 1964 Supply Co.(TM) and Doctor & Crook Co.(TM) ; and has exclusive licensing rights in Washington for iconic lifestyle and cannabis brand, Cookies.
CONTACT INFORMATION
Corporate:
Shirley Anthony
Director, Investor Relations
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com
The CSE does not accept responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding the anticipated use of proceeds from the Offering; the expectation that the Warrants will begin trading on August 23, 2019 on the CSE under the symbol "ROMJ.WT"; and the Corporation's belief that it will achieve an annual production run rate of approximately 11,000 kg of certified organic, super-premium and environmentally sustainable cannabis in 2020 are "forward-looking statements". Forward-looking information can be identified by the use of words such as "will" or variations of such words or statements that certain actions, events or results "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. The forward-looking information in this press release is based upon certain assumptions that management considers reasonable in the circumstances, including that its capital needs will be as currently projected. Risks and uncertainties associated with the forward looking information in this press release include, among others, dependence on obtaining and maintaining regulatory approvals; fluctuations in market conditions; unexpected or unplanned expenditures requiring a diversion of planned use of proceeds; acquiring and renewing state, local or other licenses; any inability to obtain all necessary governmental approvals, licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Rubicon Organics' limited operating history and lack of historical profits; reliance on management; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Although Rubicon Organics has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
(END) Dow Jones Newswires
August 23, 2019 08:54 ET (12:54 GMT)
Rubicon Organics Commences EU-GMP Certification Process https://www.prnewswire.com/news-releases/rubicon-organics-commences-eu-gmp-certification-process-300810497.html
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Cloning, Seeding & Propagation has Commenced for First Harvest at end Q2
Following the establishment of our extensive genetic library in our newly licensed facility, Rubicon Organics has now commenced with cloning and plant propagation for our first crop cycle. Seeds have been planted and our climate control has been optimized.
A diverse range of strains, featuring unique stabilized cultivars, previously developed in the medical cannabis market, will be part of our first commercial output. Our R&D compartment has also commenced with our breeding program and has already identified exciting new crosses for enhanced traits and genetic stability. All novel F1 cultivars will be sequenced and maintained proprietary as a commitment to the protection of our IP.
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Rubicon Organics Submits Organic Certification Application
As a natural next step towards our first harvest in Q2, we have submitted the required documentation to achieve certified organic status under the Fraser Valley Organic Producer’s Association (FVOPA). Rubicon Organics is currently under review and full certification is anticipated prior to our first harvest.
The FVOPA‘s certification program is compliant with the Canadian Organic Standards (CAN/CGSB 32-310/32-311-2015, amended March 2018), and in accordance with the BC Certified Organic Program (BCCOP) administered by the Certified Organic Associations of British Columbia (COABC) and in compliance with the ISO 17065 program. This organic certification program is accepted by the United States, European Union, Japan, Switzerland and Costa Rica.
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Putting the Consumer at the Heart of What We Do
Having now completed Stage 1 of our consumer deep dive, interviewing >2000 consumers across Canada, Washington and California, Rubicon Organics has developed a proprietary segmentation tool with clear target audiences, underlying motivations and “need-states”.
This critical piece of research will enable us to drive product innovation and brand development against a true need or consumer insight and will be invaluable in developing consumer focused strategies going forward.
Stage 2 of the research will begin in the coming week and will bring further insight into our chosen target audiences.
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Rubicon Organics, 505 – 744 West Hastings Street, Vancouver, British Columbia V6C1A5, Canada
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