VANCOUVER, June 20, 2019 /PRNewswire/ – Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) has commenced commercial cultivation of super-premium organic cannabis using selected strains from its genetic library at its 125,000 square-foot, state-of-the-art hybrid greenhouse facility in Delta, British Columbia. The Company expects its first harvest in September for sale in the Canadian market in the fourth quarter of 2019.
“We are excited to have selected our first commercial crop for cultivation based on the results of extensive R&D work and pilot harvests, which tested the expression of our unique genetic library when grown in combination with our organic fertilization and integrated pest management systems,” stated Jesse McConnell, Co-founder and Chief Executive Officer of Rubicon Organics. “We look forward to announcing our brand portfolio, innovation pipeline and launch strains in the near future and to launching our super-premium organic brands to Canadian consumers this fall.”
Rubicon Organics expects to produce approximately 11,000 kilograms per year of super-premium organic cannabis from the Delta facility in 2020. All crops are being grown using the Company’s proprietary cultivation methods and will produce super-premium organic cannabis consistent with that demonstrated at the Company’s Washington facility, which successfully completed its first harvest in April 2019.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. 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. The Company’s Washington facility is a newly constructed 40,000 square-foot high-tech hybrid greenhouse. Rubicon Organics has commenced production in both facilities with a combined Phase I capacity of 15,500 kg per year, including 4,500 kg leased to a Washington State licensed operator applying Rubicon Organics’ proprietary organic cultivation methods. The Company owns two award-winning U.S. cannabis brands: 1964 Supply Co.TM in California and Doctor & Crook Co.TM in Washington; and has exclusive licensing rights in Washington for iconic lifestyle and cannabis brand, Cookies.
* Organic certification pending from FVOPA
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’ proposed brand launches and path to market 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 that its capital needs will be as currently projected. 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.
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SOURCE Rubicon Organics
Source: PR Newswire (June 20, 2019 – 7:00 AM EDT)
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