Rubicon Organics, Inc. (OTCQX: ROMJF) (CSE: ROMJ) is a super-premium, organic cannabis producer with operations in Canada, Washington, and California. The cannabis company’s U.S. shares jumped 33.76% on Monday, February 4, 2019. Over the past month, Rubicon has seen an average daily volume of 4,563 shares. However, on Monday, 33,570 shares have traded hands, equating to $70,500 in dollar volume.
Shares jumped Monday after Rubicon announced that its wholly-owned subsidiary, Vintages Organic Cannabis Company, Inc., has secured cultivation and processing licenses for their cannabis operation in British Columbia, Canada. The licenses were awarded for Rubicon’s “state-of-the-art” 125,000 sq. ft facility, which utilizes “both industry-leading LED technology and supplemental sunlight.” The first harvest is expected to occur in the second quarter of 2019. Jesse McConnell, Co-Founder and CEO of Rubicon, commented, “Our team is fully invested in understanding the Canadian marketplace and consumer, and we are excited to introduce our premium quality, terpene rich organic cannabis products through our recreational and medical cannabis brands in 2019.” Here is the full press release detailing Rubicon’s Canadian cannabis operation and recently-awarded licenses:
Rubicon Organics, Inc. Press Release:
VANCOUVER, Feb. 4, 2019 /PRNewswire/ – Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”), a super-premium, organic cannabis producer with operations in Canada, Washington and California, is proud to announce that its wholly owned subsidiary Vintages Organic Cannabis Company Inc., has been awarded cultivation and processing licenses from Health Canada pursuant to the Cannabis Act (the “Cultivation & Processing Licenses”). Rubicon Organics is positioned to expand its leadership presence by providing super-premium, certified organic products for recreational and medical use in Canada and for export to international markets.
The Cultivation & Processing Licenses were awarded to Rubicon Organics’ 20-acre property with a state-of-the-art 125,000 sq. ft. facility in British Columbia. The facility has been specifically designed to be the best of both worlds, by utilizing both industry leading LED technology and supplemental sunlight allowing Rubicon Organics to produce organic cannabis at scale at the highest possible quality.
“Our next generation facility design when paired with our proprietary certified organic production system results in terpene and cannabinoid levels that will be unrivalled in Canada” said Jesse McConnell, Co-Founder and CEO of Rubicon Organics. “Our team is fully invested in understanding the Canadian marketplace and consumer, and we are excited to introduce our premium quality, terpene rich organic cannabis products through our recreational and medical cannabis brands in 2019.”
The Cultivation & Processing Licenses allow Rubicon Organics to bring in an extensive library of unique and proven genetic starting materials with their first harvest anticipated in Q2 2019.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. (“Rubicon Organics” or the “Company) (CSE:ROMJ) (OTCQX:ROMJF) is a Licensed Producer focused on building super-premium organic cannabis brands with operations in Canada, Washington and California. Rubicon Organics’ flagship Canadian facility is a 125,000 sq. ft. state-of-the-art hybrid greenhouse with industry leading LED lighting and is located on a 20-acre property in Delta, British Columbia. Rubicon Organics’ Washington facility is a newly constructed, 40,000 sq. ft hybrid greenhouse and extraction facility. The Company holds the intellectual property to produce premium, certified organic cannabis at high margin, while utilizing environmentally sustainable production methods. Rubicon Organics will begin cultivation in Q1 2019 with a combined Phase I capacity of 15,500 kg, including 4,500 kg leased to a Washington State licensed operator applying Rubicon Organics’ cultivation methods. The Company also owns two award-winning U.S. cannabis brands: 1964 Supply Co.Ô in California and Doctor & Crook Co.Ô in Washington.
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’ plan to cultivate, timing and estimates of production for its facilities, are “forward-looking statements.” Forward-looking information can be identified by the use of words such as “plans” or “is expected”, or variations of such words and phrases or statements that certain actions, events or results are “to begin”, “ramping up to”, “imminent”, “set to” or “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, that Rubicon Organics will be able to successfully obtain all necessary permits and approvals to conduct its business as currently proposed to be conducted, that Rubicon Organics will not be prosecuted in the U.S. for its involvement in the cannabis industry. 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 state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, 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; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. 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.
Article By: Andrew Rego