pauly3
4 years ago
Rubicon Organics launches LAB THEORY™ Concentrate Brand
VANCOUVER, BRITISH COLUMBIA – Dec 11, 2020
Cannabis 2.0 product line will now include THCA diamonds, caviar and live resin products
Available in British Columbia in the coming weeks
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified cannabis, is pleased to announce the launch of its LAB THEORY™ concentrate brand and five new products that will be available in THCA diamonds, caviar and live resin formats.
“LAB THEORY™ is Rubicon Organics’ first premium concentrate brand and is demonstrative of our unrelenting obsession with quality. I am confident that discerning cannabis consumers who value a premium experience will be impressed with LAB THEORY’s™ flavorful and terpene-rich suite of products. This exciting new brand is just the beginning of our deep product innovation pipeline that we will be launching throughout 2021” said Jesse McConnell, Chief Executive Officer.
lab
LAB THEORY™ products will be available in the coming weeks, first launching in British Columbia, with the first purchase order received and shipment expected prior to the end of 2020. Five new products will be available as part of this brand launch: Diamonds – PJP #8, Diamonds – Banana OG, Caviar – Sour Cks, Caviar – Sour Secret Strawberry and Live Resin – Tangie Cks.
For detailed product descriptions, please visit: www.labtheory.com.
pauly3
4 years ago
Rubicon Organics Reports Third Quarter Financial Results and Operational Milestones
VANCOUVER, BRITISH COLUMBIA – Nov 25, 2020
Reported net revenue of $3.2 million, an increase of 219% as compared to Q2 2020
Executed Letter of Understanding with SQDC to sell its flagship Simply Bare™ Organic super-premium flower in Québec
Advanced cannabis 2.0 product innovation pipeline with agreements to bring CBD Relief Sticks and CBD Cool Sticks, PAX® ERA™ pods and proprietary concentrate products to the Canadian market
Announced acceleration of warrant expiry date for 3.1 million warrants at an exercise price of $3.50 per share
Rubicon Organics Inc. (“Rubicon Organics” or the “Company”) (TSXV:ROMJ) (OTCQX:ROMJF), today reported its financial results for the third quarter ended September 30, 2020 (“Q3 2020”). All amounts are expressed in Canadian dollars.
“The net revenue increase we delivered in Q3 2020 is only the beginning of Rubicon Organics demonstrating its potential. We have been operating at full capacity for six months now, and more and more Simply Bare™ Organic product continues to hit the shelves across the country with customers and cannabis connoisseurs giving strong endorsements of our super-premium organic products. Our journey is only going to get more exciting from here. We have invested in world class personnel that will help bring new brands and products to market that will capture the desire of consumers to drive our growth in revenue and profitability,” said Jesse McConnell, Chief Executive Officer.
Q3 2020 Highlights:
Earned $3.2 million of net revenue, an increase of $2.2 million or 219% as compared to Q2 2020;
Entered into a brand licensing agreement with Wildflower Brands Inc. (CSE:SUN) for the production of Wildflower-branded CBD Relief Sticks and CBD Cool Sticks in Canada;
Commenced trading on the TSX Venture Exchange on September 22, 2020;
Entered into a distribution agreement with PAX LABS®, Inc. subsequent to quarter-end to launch pods for the closed-loop PAX® ERA™ system under its Simply Bare™ Organics brand;
Signed a cannabis 2.0 product distribution agreement subsequent to quarter-end with Canada House Wellness Group Inc. (CSE: CHV) for the distribution Rubicon Organics’ line of concentrate products;
Completed the amalgamation of subsidiaries which allows for over $20 million of tax losses to be applied against future profits; and
On November 16, 2020, announced the acceleration of the warrant expiry date for 3.1 million warrants at an exercise price of $3.50 per share.
Q3 2020 Select Financial and Operational Results:
Q3 results
In Q3 2020, Rubicon Organics earned $3.2 million of net revenue which is an increase of $2.2 million or 219% as compared to the second quarter Q2 2020. This increase in net revenue is attributable to higher sales volume through direct sales to provincial suppliers and under the Agro-Greens Agreement.
The Company reported an Adjusted EBITDA loss of $2.6 million in Q3 2020, as compared to a loss of $2.5 million in Q2 2020 and a loss of $2.5 million in the prior year. The sequential change in Adjusted EBITDA is attributable to the increase in net revenue in Q3 2020, offset by additions to senior personnel and compensation across the organization, and general and administrative expenses.
The Company reported a net loss of $4.3 million in Q3 2020, as compared to a net loss of $1.8 million in Q2 2020 and net loss of $4.5 million in the prior year. The sequential change in profitability reflects fair value changes in the Company’s cannabis assets and the variance relative to Q3 2019 reflects the increase to net revenue offset by the impact of fair value changes on cannabis assets and discontinued operations.
Outlook
Rubicon Organics is focused on building its portfolio of premium brands in the Canadian market that is anchored by its flagship Simply BareTM Organic cannabis brand. The Company intends to launch additional brands into the market in both the flower and extract categories, along with a diverse portfolio of cannabis 2.0 products. The Company has also established distribution channels to Germany with the expectation to enter international markets in 2021.
The Company has direct supply agreements with the OCS, BCLDB and AGLC and has recently signed with the SQDC. The Company expects to ramp up product deliveries to these markets as well as initiate product shipment to Quebec in December 2020. The Company plans to continue to use local distributors in Saskatchewan and Manitoba.
Following approval from Health Canada on May 5, 2020 for site amendments that included the use of its land at the Delta Facility for an outdoor grow, the Company launched a pilot scale outdoor grow. Following on from the lessons of this pilot scale program, the Company is assessing the scale and viability of a larger outdoor grow program in 2021.
The Company has installed additional high-performance LED lighting in the final three of its five flowering compartments to increase quality and yield throughout the year. The Company is performing an assessment of areas for additional capital expenditure which would increase throughput and efficiency. Renovations to the Delta Facility’s processing area are underway to facilitate compliance with EU-GMP requirements thereby providing access to the German market through the Company’s supply agreement with Canacur GmbH. The Company has developed an extensive product innovation pipeline and is preparing to bring the first phase of those products to market.
The Company is determined to achieve positive operating cash flow and profitability. The Company currently expects to achieve positive adjusted EBITDA on a monthly basis by year-end 2020 and to achieve monthly positive cash flow from operations in the first half of 2021. The Company expects to generate significant operating leverage by maintaining moderate increases in production costs and operating expenses, with linear increases in inventory expensed to costs of sales relative to net revenue, but at a lower per unit cost.
The Company expects to refinance debt maturing in 2021 to a long-term mortgage financing facility, potentially with more favourable terms, and may seek other capital through equity, and other debt arrangements.
The COVID-19 outbreak was declared a pandemic by the World Health Organization in 2020. The situation is dynamic and the ultimate duration and magnitude of the impact on the economy and our business are not known at this time. These impacts could include an impact on our ability to maintain operations, to obtain debt and equity financing, access to necessary supplies, credit risk associated with our accounts receivable, impairments in the value of our long-lived assets, or potential future decreases in revenue or the profitability of our ongoing operations. The Company continues to work diligently to ensure operations continue and product is delivered while continuing to emphasize the safety of our product and employees.
Conference Call
The Company will be hosting a conference call to discuss Q3 2020 results on November 25, 2020. Conference call details are as follows:
Date and time: 7:00 AM PT / 10:00 AM ET
Conference ID: 9481876
Local dial-in: (833) 900-2238
International dial-in: (647) 689-5136
Webcast: https://onlinexperiences.com/Launch/QReg/ShowUUID=43EDC416-C639-4D8B-8070-726F9F1C0EAA
pauly3
4 years ago
Rubicon Organics to Enter Québec Market
VANCOUVER, BRITISH COLUMBIA – Nov 24, 2020
Executed Letter of Understanding with SQDC to sell its flagship Simply Bare™ Organic flower.
Rubicon Organics products will soon be available to over 90% of the Canadian population.
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified cannabis, today announced that it has executed a letter of understanding (“LOU”) with Société québécoise du cannabis (“SQDC”) for the distribution of its portfolio of cannabis products to consumers in the province of Québec. The Company is expecting to make its first shipment under the agreement in the coming weeks. Simply Bare™ Organic flower will now be available in stores and online from British Columbia to Québec inclusively.
"Québec represents an important milestone in the development of Simply Bare™ Organic. The addition of Québec provides Rubicon Organics a national distribution platform that makes our products accessible to over 90% of the Canadian population. In addition to the Simply Bare™ Organics product portfolio, we look forward to offering new brands and products that will be exclusively available in Québec in the upcoming months," said Jesse McConnell, Chief Executive Officer.
pauly3
4 years ago
Rubicon Organics to Report Q3 2020 Results
VANCOUVER, BRITISH COLUMBIA – Nov 18, 2020
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified and premium cannabis, is pleased to announce that it will be reporting its financial results for the third quarter ended September 30, 2020 (“Q3 2020”) before market opens on November 25, 2020.
The Company will be hosting a conference call to discuss Q3 2020 results on November 25, 2020.
Conference call details are as follows:
Date and time: 7:00 AM PT / 10:00 AM ET
Conference ID: 9481876
Local dial-in: (833) 900-2238
International dial-in: (647) 689-5136
Webcast: Link
pauly3
4 years ago
Rubicon Organics Announces Acceleration of Warrant Expiry Date
VANCOUVER, BRITISH COLUMBIA – Nov 16, 2020
Warrant acceleration may result in gross proceeds to the Company of up to $10.9 million
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified and premium cannabis, announces that it has elected to accelerate the expiry date of the common share purchase warrants issued on August 23, 2019 (the “Warrants”) under the warrant indenture between Odyssey Trust Company (the “Warrant Agent”) and the Company dated August 21, 2019 (the “Warrant Indenture”).
"The exercise of these warrants allows Rubicon Organics to bolster its balance sheet and provides us additional capital to continue our rapid growth, particularly through offering new strains, brands and cannabis 2.0 products to the Canadian market. Our current expectation is that the Company will become operating cash flow positive in the first half of 2021 and, with all major capital projects complete, Rubicon Organics remains in a very strong financial position" said Jesse McConnell, Chief Executive Officer.
Accelerated Expiry Date
Pursuant to the terms of the Warrant Indenture, if the daily volume weighted average trading price of the Company’s shares on the TSX Venture Exchange equals or exceeds $3.80 for twenty (20) consecutive trading days (the “Acceleration Trigger”), the Company is entitled to accelerate the expiry date of the Warrants to a date thirty (30) days from the date notice of such acceleration is provided to holders of Warrants. The Company has delivered to holders of Warrants a notice of the occurrence of the Acceleration Trigger and its election to accelerate the expiry date of the Warrants to December 16, 2020 (the “Accelerated Expiry Date”).
Any Warrants that have not been exercised by 3:00 p.m. (Vancouver time) on December 16, 2020 will automatically be cancelled.
As of November 13, 2020, 3,117,000 Warrants remain outstanding. Each Warrant entitles the holder to purchase one common share of the Company at $3.50. If all outstanding Warrants are exercised, gross proceeds to the Company will total $10,909,500, however, there can be no assurance that any of the Warrants will be exercised prior to the Accelerated Expiry Date.
Warrant holders who wish to exercise their Warrants should contact their investment advisor and submit an exercise notice form to the Warrant Agent. The contact details for the Warrant Agent is as follows: Odyssey Trust Company, Suite 350, 300 5th Avenue S.W., Calgary, Alberta, T2P 3C4, Tel: 1-587-885-0960.
pauly3
4 years ago
CORPORATE NEWSLETTER - OCTOBER 2020
MONTH IN REVIEW
“Our product innovation strategy gained a lot of momentum in October 2020. We completed a distribution agreement with PAX Labs, Inc. to fill organic cannabis oil pods for the PAX® ERA™ and PAX® ERA Pro™ premium vaporizers, and we secured a route to market for our cannabis 2.0 product line through a distribution agreement with Canada Wellness Group Inc. (CSE:CHV). These partnerships allow Rubicon Organics to accelerate the time to market for an expanded suite of branded products, maintain control of our high-quality organic production and meet our profitability targets. With additional strains, brands and products in our innovation pipeline, we are very excited for similar milestones in the near term."
Jesse McConnell, Chief Executive Officer.
October Social Media
October Social Media focus
Simply Bare™ Organic Branded Converse giveaway
NomadChef Budtender cooking class
Apple Toffee genetic release
NEWS COVERAGE
Rubicon Organics Establishes Route to Market for Cannabis 2.0 Products
Rubicon Organics signs distribution agreement with Canada House Wellness Group to sell concentrate products to provincial distributors
“With our route to market established for cannabis 2.0 products, we are excited to begin executing on our innovation pipeline. In the coming months, we will be launching our new premium concentrate brand along with a diverse portfolio of products. These products will highlight the terpene rich profile that our organic and sustainably cultivated Simply Bare™ flower has become known for,” said Jesse McConnell, Chief Executive Officer. “We are delighted to be partnering with Canada House to accelerate our time to market whilst we wait for Health Canada to issue our extract, edible and topical sales license that we submitted for in early September.”
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Rubicon Organics Grants Deferred Share Units and Options
Rubicon Organics Inc. announces that it has granted 75,000 deferred share units (the "DSUs") and 80,000 stock options.
Click for Press Release
Rubicon Organics expands 2.0 offering with PAX Labs ® partnership
Rubicon Organics’ to fill organic cannabis oil pods for the PAX® ERA™ and PAX® ERA Pro™ premium vaporizers
Expected launch across Canada in H1 2021
Rubicon Organics Inc. is pleased to announce that it has entered into a distribution agreement with PAX Labs, Inc., a leader in premium cannabis vaporization technology. “Our innovation pipeline is building momentum,” said Tim Roberts, President. “This exciting partnership with PAX, enables us to accelerate our premium 2.0 product range into vape products. We expect to also leverage this technology partnership with our new brands and rare new strains that we expect to launch into the Canadian market in the near term.
PAX
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ANALYST COVERAGE
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MACKIE RESEARCH
Analyst: Greg McLeish • (416) 860-8633 • gmcleish@mackieresearch.com
HAYWOOD
Analyst: Neal Gilmer • (416) 507-2759 • ngilmer@haywood.com
DESJARDINS
Analyst: John Chu • (416) 607-3109 • john.chu@desjardins.com
SHARE TRACKER (V.ROMJ)
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ROMJ OCT
Data sourced from Stockhouse. .Click graph to view live.
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ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. is becoming the global brand leader in organic cannabis products. Through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer, the Company cultivates and sells organic certified, sustainably grown, super-premium cannabis from its state-of-the-art hybrid greenhouse located in Delta, BC, Canada. Rubicon Organics is focused on achieving industry leading profitability through the development of brands and cannabis 2.0 products, including its flagship super-premium brand Simply Bare™ Organic.
Cautionary Statement Regarding Forward Looking Information
This newsletter 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, and statements regarding the expected launch of a new premium concentrate brand and a diverse portfolio of products, and the Company’s intention 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 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 newsletter 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 newsletter 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.
pauly3
4 years ago
Rubicon Organics Establishes Route to Market for Cannabis 2.0 Products
VANCOUVER, BRITISH COLUMBIA – Oct 26, 2020
Rubicon Organics signs distribution agreement with Canada House Wellness Group to sell concentrate products to provincial distributors
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified and premium cannabis, is pleased to announce that it has signed a cannabis 2.0 product distribution agreement with Canada House Wellness Group Inc. (CSE: CHV) (“Canada House”) (the “Agreement”), through Canada House’s wholly-owned subsidiary of Abba Medix Corp. In connection with the Agreement, Canada House will distribute Rubicon Organics’ line of concentrate products to Canada House’s provincial distributors while the Company waits to receive from Health Canada its authorization for sale of extracts, topicals and edibles.
“With our route to market established for cannabis 2.0 products, we are excited to begin executing on our innovation pipeline. In the coming months, we will be launching our new premium concentrate brand along with a diverse portfolio of products. These products will highlight the terpene rich profile that our organic and sustainably cultivated Simply Bare™ flower has become known for,” said Jesse McConnell, Chief Executive Officer. “We are delighted to be partnering with Canada House to accelerate our time to market whilst we wait for Health Canada to issue our extract, edible and topical sales license that we submitted for in early September.”
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2 years ago
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3 years ago
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