VANCOUVER, British Columbia, Dec. 18, 2019 (GLOBE NEWSWIRE) — Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce an agreement with Agro-Greens Natural Products Ltd. (“Agro-Greens”), a Health Canada licensed cannabis producer and processor, to distribute the Company’s Simply BareTM branded flower to provincial distributors and retailers in the Canadian recreational market.
In connection with the agreement, the Company has commenced shipment of bulk flower to Agro-Greens’ facility in Saskatchewan where they will package it into Simply BareTM branded product. Agro-Greens expects to secure purchase orders with major provincial distributors and retailers for Simply BareTM in the coming weeks and the Company will announce such purchase orders as they are received by Agro-Greens.“We are delighted to have Agro-Greens as our partner to begin rolling out our certified organic Simply BareTM branded flower to the Canadian marketplace,” stated Jesse McConnell, CEO of Rubicon Organics. “Based on extensive discussions with provincial distributors, we know there is significant market demand for high-quality organic cannabis products and are confident that our products will be available in major markets starting in the new year.”The Company’s agreement with Agro-Greens covers the time between today’s announcement and when Rubicon Organics receives its Health Canada authorization to sell dried cannabis flower products directly to provincially authorized distributors. As reported on November 12, 2019, Rubicon Organics expects to receive its sales license in the first half of 2020.ABOUT RUBICON ORGANICS INC.Rubicon Organics Inc. holds a license to cultivate and process cannabis and is focused on cultivating and branding certified organic, super-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 by combining the sale of high-margin, super-premium organic products with low-cost production. The Corporation is currently ramping up to production capacity of 11,000 kg of certified organic, super-premium and environmentally sustainable cannabis in 2020 and 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 INFORMATIONCorporate:
Shirley Anthony
Director, Investor Relations
Phone: +1 (437) 929-1964
Email: [email protected]Cautionary 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 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 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, including acquiring and renewing state, local or other licenses and 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, particularly in California, 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; 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. 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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