Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
With GRAF I believe each warrant is for 3/4 of a share.
With SPAQ I believe it’s 1 for 1
With KCAC I believe it’s 1 for 1
I’m a fan of the warrants as well. I own warrants of KCAC+, GRAF+ & SPAQ+
Don’t forget about GRAF woooooo
The QS merger with KCAC is valued at 3.3B. Not exactly sure what the OS are here. The number I have seen was 27M shares OS. Which values KCAC at a price of $120/share ish.
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
divider_blue-1
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
I picked a few today at $.027
I agree. I’m simply going to accumulate and average down a little bit each week until that news release comes. I know it will. Just takes patience.
Short but very informative video about Rubicon
https://www.b-tv.com/rubicon-organics-super-premium-cannabis-feature-ep-343/
You really should update the US sweet 16 cannabis companies, to include some of the Multi State Operators such as Cresco Labs, Green Thumb, and Curaleaf. Don’t forget on the Canadian side to keep an eye on Rubicon Organics. Rubicon’s Simply Bare brand is quickly becoming know for their ultra premium organic terpine rich cannabis. Hard to believe they are flying so low under the radar especially in the US. Rubicon’s management consists of people from Whistler Organics, Red Bull & Diageo. Their margins are $5/gram gross profit.
Thanks for the welcome to the cannabis coalition.
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.
Check out this video. Do you think this is Surna hybrid greenhouse?
https://www.b-tv.com/rubicon-organics-super-premium-cannabis-feature-ep-343/
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/
My hunch is that it is a contract for Cresco Labs as well.
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
A Canadian sleeper that I have my eye on is Rubicon Organics. Managed by the guys who started Whistler and then sold to Aurora.
The management of Rubicon organics are the same guys from Whistler, that was bought by Aurora a couple years back. Jesse McConnel helped the Canadian govt write the rules for organic cannabis when he owned Whistler. Now he’s formed Rubicon Organics which is gonna be 5 times as big as Whistler was.
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 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 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 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 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.”
Big volume on the Canadian side today.
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.
I agree 100%. Tough to grow high quality while growing high quantity. Takes high quality genetics and a highly knowledgeable grower. There are most definitely medicinal and illegal growers both who have held on tightly to their genetics. A reputation for growing good quality organic cannabis is something that few have earned. Google Jesse McConnell once and you’ll find an individual who has earned a great reputation in Canada for his ability to grow high quality organic cannabis. He also has genetics he has held onto tightly.
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
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
My original post was a reply to a post about the subpar quality of cannabis in Canada. I follow multiple cannabis stocks and boards. The reason I posted as many messages as I ended up posting is because of the lack of DD in the responses I received back.
Trust me brother, I’ve done my DD on this one. You are correct, they received a license to grow outdoor at one of their facilities last week. They have current licenses for indoor cultivation at multiple facilities. Also a footprint in Washington state. The thing is.....you know Jesse didn’t sell everything when he sold Whistler to Aurora. He’s keeping the best stuff for himself and Rubicon. Canada’s about to see the best Organic Cannabis it’s ever seen. If you don’t know, now you know. Enjoy you Memorial Day Weekend everyone!
Premium product will always demand premium price. Coupled with great margins and great management equals a successful business model. Which is why Rubicon has been able to raise capital even while the world has been going through a pandemic.
Rubicon Organics is also one of the only cannabis companies that’s able to raise capital in a pandemic.