Rubicon Organics Announces Supply Agreement With the Ontario Cannabis Store
June 18 2020 - 6:00AM
Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics”
or the “Company”) is pleased to announce that it has signed a
direct supply agreement with the Ontario Cannabis Store (“OCS”) for
the sale and distribution of Simply Bare™ Organic cannabis to
provincial and private cannabis retailers. Rubicon Organics now has
direct supply agreements in place for British Columbia, Alberta and
Ontario, and a distribution arrangement with Agro-Greens Natural
Products Ltd. (“Agro-Greens”) to continue to sell our cannabis
products in Saskatchewan and Manitoba.
“Ontario has the largest population in Canada
and having a direct supply agreement with the OCS is a critical
component to Rubicon Organics’ national recreational rollout,”
stated Jesse McConnell, CEO.
Prior to the initiation of the OCS supply
agreement, the Company’s Simply Bare™ Organic cannabis was
initially introduced in Ontario by Agro-Greens.
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 Bare™ 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
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 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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