ROMJ Rubicon Organics Inc

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 the voting results from its Annual General Meeting of the shareholders (the “Meeting”), held on September 14, 2023.

A total of 40,649,434 shares were represented in person or by proxy at the meeting, constituting approximately 72% of the Company’s total issued and outstanding Common Shares as of the record date.

Results of Annual General Meeting

The following matters put forward before shareholders for consideration and approval as set out in Rubicon Organics’ management information circular dated August 9, 2023 (the “Circular”) were approved by the shareholders:

• Setting the number of directors of the Company at eight;
• Electing Margaret Brodie, John Pigott, David Donnan, Michael Detlefsen, Karen Proud, Len Boggio, Ian Gordon, and Doris Bitz[1] as directors of the Company for the ensuing year until the next annual meeting of the Company; and
• Appointing PricewaterhouseCoopers LLP as the Company’s auditors for the ensuing year with the Company’s directors authorized to fix their remuneration.

An updated corporate presentation presented at the Meeting is available for viewing on Rubicon Organics’ website at www.rubiconorganics.com.

Appointment of Board of Directors Members and Chair

The board of directors is pleased to announce the appointment of Len Boggio to Chair of the Board of Directors (the “Board”).

"The Company stands on a solid foundation poised for success, even in the face of the current challenging market conditions in the Canadian cannabis industry. Rubicon Organics is well-positioned to capitalize on our sustained growth, leveraging our diverse portfolio of brands and driven by our formidable team," said Len Boggio, Chair of the Board.

About the Independent Directors

Len Boggio

Len Boggio is a Fellow Chartered Professional Accountant (FCPA) with significant experience as an auditor, advisor and independent director of public companies.  During his 30 years at PwC in Vancouver and the UK, Len's clients included Canadian and multi-national enterprises listed on stock exchanges in Canada, USA, UK, Europe and Australia.  Since his retirement from PwC in 2012, he has served as an independent director of several public and private companies, and crown corporations, and agencies.  Len has served as the chair of the Canadian Institute of Chartered Accountants (now CPA Canada) and president of the Institute of Chartered Accountants of British Columbia (now CPA BC), and played a senior role in the unification of the Canadian accounting profession. He holds both Bachelor of Arts and Bachelor of Commerce degrees (Honours) from the University of Windsor Ontario and is a member of the Institute of Corporate Directors (ICD.D).  

Michael Detlefsen

Michael Detlefsen is the Managing Director of Pomegranate Capital Advisors, an active investor advisory firm based in Toronto. He has extensive strategic, operating, board and investor experience. He has held senior executive roles at Air Canada, Bell Canada/BCI, Maple Leaf Foods and Ceres Global Ag Corp. and has worked in the consulting practices of Monitor Company and PwC, as well as for the Government of Canada. He has advised and served on many boards, and is well-known and highly respected in the North American business community and within governments for his strategic acumen, operational insights, objective perspective, and ability to fix and grow businesses under challenging circumstances. Michael holds a Bachelor of Commerce (Honours) from Queen’s University and a Master in Public Policy from the Harvard Kennedy School and is a member of the Institute of Corporate Directors (ICD.D). He was named to Canada’s Top 40 Under 40 in 2002.

David Donnan

David Donnan is a leader in the global food and agricultural sector with over 40 years of experience working in consumer and food products, technology and retail industries. He is a Partner Emeritus at Kearney, an international management consulting firm and was previously a Senior Partner at the firm where he led their global food and beverage team. Currently David is an Adjunct Professor at Northwestern University in Chicago as well as an investor in new ventures in agtech and foodtech. He is a board member of Protein Industries Canada and the Foundation for Food and Agriculture Research in Washington DC.

Ian Gordon

Ian Gordon recently retired as the Senior Vice President of Loblaw Brands Limited where he led the development and innovation behind some of Canada’s largest consumer brands including President’s ChoiceTM, no nameTM and Life BrandTM. With the growing issue of plastic waste in the environment, Ian now leads Loblaw’s plastic reduction strategy, overseeing the company’s cross-functional steering committee. Prior to Loblaw, Ian held senior sales and marketing roles at leading CPG companies including Unilever and International Multifoods, and President of ACLC Advertising. Ian is a board member of Recycle BC, The Canada Plastics Pact, and the Food from Thought research program at the University of Guelph. Ian is a graduate of Queen’s University.

John Pigott

John Pigott is the CEO of Club Coffee, a leading Canadian roaster, contract manufacturer and distributor of packaged coffees. He is also the President and CEO of Morrison Lamothe Inc., an independent Canadian Food & Beverage processor. John has extensive experience in strategic planning, sales and product development in manufacturing frozen food products for many national and retailer owned brands and is committed to creating eco-friendly products. John has been an active force in his community for almost 40 years and has served on numerous private company and industry boards, task forces, and associations including the Canadian Association of Family Business, the University of Ottawa—Faculty of Administration and the Young Presidents Organization.

Karen Proud

Karen Proud is a policy strategist who has over 20 years experience in government relations, policy development, and regulatory and legislative affairs. Karen is currently the President & CEO of Fertilizer Canada. Prior to joining Fertilizer Canada, Karen served as the Chief Operating Officer for Food, Health and Consumer Products Canada, President of Consumer Health Products Canada, and Vice President of Federal Government Affairs for the Retail Council of Canada. Karen is a board member of Nutrients for Life, a charitable organization focusing on soil science and agricultural sustainability. Karen is also a past board member of the Global Self Care Federation, Labour Watch, as well as the Canadian Partnership for Consumer Food Safety Education. Karen holds a Bachelor of Applied Science from Toronto Metropolitan University (formerly Ryerson University).

Doris Bitz

Doris Bitz has over 30 years of experience successfully building, scaling and growing manufacturing and CPG businesses in North America. In Doris’ most recent assignment as President, Retail of Dessert Holdings, a leading manufacturer of high-quality dessert products sold through retail and food service customers, Doris was responsible for the vision, strategy and commercial operations that propelled the business from annual revenues of $65 million to nearly $1 billion through organic growth and M&A. Doris has also held executive marketing positions at top-tier CPG companies including PepsiCo Canada and General Mills. Doris holds an HBA and an MBA from the Ivey School of Business at Western University.

ABOUT RUBICON ORGANICS INC.

Rubicon Organics Inc. is the global brand leader in premium organic cannabis products. The Company is vertically integrated through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer. Rubicon Organics is focused on achieving industry leading profitability through its premium cannabis flower, product innovation and brand portfolio management, including three flagship brands: its super-premium brand Simply Bare™ Organic, its premium brand 1964 Supply Co™, and its cannabis wellness brand Wildflower™ in addition to the Company’s mainstream brand Homestead Cannabis Supply™ and its premium concentrate brand Lab Theory™.

The Company ensures the quality of its supply chain by cultivating, processing, branding and selling organic certified, sustainably produced, super-premium cannabis products from its state-of-the-art glass roofed facility located in Delta, BC, Canada.

CONTACT INFORMATION

Margaret BrodieInterim CEO and CFOPhone: +1 (437) 929-1964Email: ir@rubiconorganics.com

The TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 Rubicon Organics’ goal of achieving industry leading profitability 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 expected nomination of the Nominees at the AGM, and the ability for Nominees to obtain Health Canada’s security clearance. 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; the effect of capital market conditions and other factors on capital availability; the Company’s ability to attract and retain skilled staff; competition, including from more established or better financed competitors; 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.

[1] Ms. Bitz has been elected the Board of Directors (the “Board”) at the Meeting, subject to being granted security clearance by Health Canada. A request for Ms. Bitz’s security clearance was made to Health Canada, however, the approval process remains ongoing as of the date of this press release. Ms. Bitz will be formally appointed to the Board once the Health Canada security clearance is obtained.