VANCOUVER, British Columbia, June 15, 2020 (GLOBE NEWSWIRE) — 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 BareTM 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 BareTM 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 BareTM 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.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 INFORMATIONMargaret Brodie
Chief Financial Officer
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.comCautionary Statement Regarding Forward Looking InformationThis 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 Company’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; and that the Company will launch its full portfolio of super-premium brands into new provinces and extend its offerings into already supplied provinces 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 forward looking information in this press release include, among others, information or statements concerning the Company’s expectations of financial resources available to fund operations; Rubicon Organics’ limited operating history and lack of historical profits; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the Company’s ability to obtain financing at reasonable terms though the sale of equity and/or debt commitments; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; that our current relationships with our suppliers, service providers and other third parties will be maintained; and the impact of the current global health crisis caused by 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.
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