GlobeNewswire
Rubicon Organics Provides Update on Brand Milestones
Simply Bare™ Organic Flagship cannabis brand Lab Theory™ Premium concentrates brand 1964™ Exclusive Quebec brand VANCOUVER, British Columbia, Feb. 11, 2021 (GLOBE NEWSWIRE) — 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, today announced market share milestones across its product portfolio achieved in the fourth quarter of 2020. During this period, the Company expanded the number of Simply Bare™ Organic strains available and had its first full quarter of sell-through with six provincial distributors. Simply Bare™ Organic recent highlights include: #1 Premium Pre-roll brand ($10+/g) and #4 Pre-roll brand (total market) in Ontario #1 Super-Premium brand ($50+/3.5g) and the #2 Premium brand ($40+/3.5g) for both Flower and Pre-roll in Ontario #1 Premium brand ($40+/3.5g) and #1 Organic brand ($40+/3.5g) for Flower and Pre-roll combined in British Columbia #2 Pre-roll brand (total market) in British Columbia #1 Premium Pre-roll brand and #2 Premium brand in Alberta In total sales, Simply Bare™ Organic overall rank is #6 of 109 brands in British Columbia, #18 of 125 brands in Ontario, and #2 of 15+ premium brands ($40+/3.5g) in Alberta “These recent market share achievements are the result of savvy cannabis consumers appreciating the quality of our sustainably grown and premium organic cannabis. We now have three brands across Canada to support our product innovation platform in 2021, which will include new strains, sizes and product formats of our flagship brand Simply Bare™ Organic and our 1964™ brand in Quebec, as well as the introduction of Lab Theory™ concentrate products across the country,” said Jesse McConnell, Chief Executive Officer. Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/aec05423-0120-4a30-85a6-981e68b4b89a https://www.globenewswire.com/NewsRoom/AttachmentNg/1c641ebb-9db7-4c68-909e-098b6689750e https://www.globenewswire.com/NewsRoom/AttachmentNg/e855d0aa-5b29-4517-9e6c-f9605866ee20 The recent highlights information presented was obtained from industry data sources including the Ontario Cannabis Stores and Buddi during the period from October 1, 2020 until December 31, 2020. ABOUT RUBICON ORGANICS INC. Rubicon Organics Inc. is becoming the global brand leader in premium organic cannabis products. Through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer, the Company cultivates, processes and sells organic certified, sustainably produced, super-premium cannabis products from its state-of-the-art hybrid greenhouse located in Delta, BC, Canada. Rubicon Organics is focused on achieving industry leading profitability through a focus on innovation and the development of brands and cannabis 2.0 products, including its flagship super-premium brand Simply Bare™ Organic and its super-premium concentrate brand LAB THEORY™. CONTACT INFORMATION Margaret BrodieChief Financial OfficerPhone: +1 (437) 929-1964Email: [email protected] The TSX Venture Exchange, 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, and statements such as the Company’s belief that it is becoming the global brand leader in organic cannabis products, achieving adjusted EBITDA profitability in the near-term 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 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 through 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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