Rubicon Organics Receives Medical Sales License and Approval for Outdoor Cultivation
May 06 2020 - 6:00AM
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics”
or the “Company) is pleased to announce that it has received its
medical sales license, allowing direct to patient sales, as well as
approval from Health Canada for certain site amendments. These
amendments address the expansion of its licensed area to include an
11-acre outdoor grow site on its 20-acre property located in Delta,
BC, Canada (the “Delta Facility”). Rubicon Organics intends to
commence outdoor cultivation in 2020.
“I am excited to have a new dimension to our
organic certified, licensed Delta Facility and to be able to grow
our extensive genetic library outdoors. Our expanded production
capacity with our newly licensed outdoor grow is the next milestone
that will allow Rubicon Organics to offer a broader portfolio of
cannabis products,” stated Jesse McConnell, CEO of Rubicon
Organics.
In addition to the outdoor grow area and medical
sales licensing, Health Canada has also approved a 5,000 sq. ft.
expansion to our processing area at the Delta Facility.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc., through its wholly owned
subsidiary Vintages Organic Cannabis Company Inc., holds a license
to cultivate and process organic certified, 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 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 BrodieChief Financial OfficerPhone: +1 (437)
929-1964Email: 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 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 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 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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