Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon” or the
“Company”) is pleased to announce the appointment of Michael
Detlefsen to its Board of Directors (the “Board”), effective
immediately, and the anticipated nomination of Doris Bitz, Len
Boggio, Ian Gordon and Karen Proud (the “Nominees”) to stand for
election at the next Annual General Meeting (“AGM”).
"Rubicon is embarking on a new chapter in our
vision to grow the best cannabis on Earth for the Earth. I am
thrilled to welcome Michael Detlefsen to our Board, and look
forward to the imminent confirmation of our four Nominees. Michael,
Doris, Len, Ian, and Karen bring a wealth of expertise across
diverse fields such as strategy, marketing, manufacturing, finance,
governance, and regulation. Their collective knowledge further
fortifies our commitment to continued profitability and growth
within Canada's cannabis industry. This announcement underscores
our dedication to building a successful Canadian cannabis
enterprise that capitalizes on Rubicon's leading position in the
premium and organic cannabis market. With these exceptional
additions to our Board, I am confident that we will further
accelerate our trajectory to become a strong, profitable leader in
our industry,” said Margaret Brodie, Interim CEO and CFO.
The Nominees will be Board Observers, without
any voting rights, until their successful election at the AGM,
expected in the summer of 2023. The Nominees must receive Health
Canada’s customary security clearance before they can join the
Board as directors.
About 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.
About the Board Nominees
Doris Bitz
Doris Bitz has over 30 years of experience
successfully building, scaling and growing manufacturing and CPG
businesses in North America. In her most recent assignment as
President 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.
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 including Equinox
Gold, NewCastle Gold, and BC Hydro and its subsidiary Powerex
Corporation. Len has served as the chairman 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).
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 Choice™, no name™ and Life Brand™. 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. He 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.
Karen Proud
Karen 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. She 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).
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 its
flagship super-premium brand Simply Bare™ Organic, its premium
flower and hash brand 1964 Supply Co.™, its premium concentrate
brand LAB THEORY™, its mainstream brand Homestead Cannabis Supply™
and its topical brand Wildflower™.
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 & 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.
Rubicon Organics (TSXV:ROMJ)
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