RUBICON ORGANICS INC - ROMJF STOCK NEWS

Rubicon Organics reported Q1 2024 financial results, achieving net revenue of $8.9 million, a 1% increase from Q1 2023. The company reported an adjusted EBITDA loss of $0.4 million and a negative operating cash flow of $0.9 million. Gross profit before fair value adjustments was $2.2 million, a 28% decrease from Q1 2023.

Despite challenging market conditions, Rubicon maintained its revenue levels and is poised for growth with the launch of new products, including full spectrum extract vapes in May 2024. The company holds leading market shares in various categories, including a 22% share in flower and pre-rolls and a 30.6% share in topicals.

The company plans to continue innovating and expanding its product lines, while anticipating improvements in gross margins and net revenue growth in subsequent quarters.

Rubicon Organics (TSXV: ROMJ, OTCQX: ROMJF) has launched its new 1964 Supply Co.™ Full Spectrum Extracts (FSE) Resin 510 Vapes. This strategic move aims to capture market share in the rapidly growing Canadian cannabis vape segment. The new product line features the Blue Dream and Comatose cultivars, selected for their popular aromas and effects. These vapes are available in premium 510 hardware and will be rolled out across major provinces including British Columbia, Alberta, and Ontario. The launch aligns with Rubicon's goal to attract legacy market consumers into the legal market by offering high-quality, consistent products.

Rubicon Organics Inc. will be reporting its financial results for Q1 2024 on May 15, 2024, followed by a conference call on May 16, 2024. The Company focuses on producing and selling premium organic cannabis products.

Rubicon Organics Inc. reported strong financial results for the year ended December 31, 2023, with net revenue of $40.1 million, adjusted EBITDA of $4.4 million, and achieved operating cash flow of $5.0 million. The company also achieved a 6.9% national market share of premium flower and pre-rolls, with Wildflower™ being the number one topical brand in Canada with a market share of 21.8%. Additionally, Rubicon Organics secured 15.2% national market share of premium concentrates and 14.0% national market share of premium edibles. The company's brands, Simply Bare™ Organic and 1964 Supply Co™, were recognized as top brands recommended by Canadian budtenders. Rubicon Organics also received prestigious awards and appointed 5 new independent directors to the Board.

Rubicon Organics Inc. will report its financial results for Q4 2023 on March 27, 2024. The conference call to discuss the results will be held on March 28, 2024. The company focuses on producing and selling premium organic cannabis products.

Rubicon Organics Inc. announces the launch of 1964 Supply Co.™ Cannabis-Infused Poutine Sauce in Quebec. The product combines the flavors of Quebec's iconic dish with cannabis, offering a unique culinary experience. Each pack contains 10mg of THC sourced from hash rosin, promising a delightful way to enjoy comfort food. The company plans to expand distribution to other provinces in the near future.

Rubicon Organics Inc. appoints Margaret Brodie as CEO, effective immediately, after a search for internal and external candidates. Brodie, who has been serving as Interim CEO and CFO, is praised for her leadership skills and deep industry understanding. The company aims to continue its growth trajectory and deliver top-tier cannabis products under Brodie's guidance.

Rubicon Organics Inc. has announced the grant of 420,000 deferred share units and 15,000 stock options. The DSUs were granted to independent directors as compensation for their services in 2023, while the stock options were granted to an employee pursuant to the equity incentive plan. The DSUs vest immediately and can only be redeemed upon a director ceasing to be a part of the company. The stock options are exercisable at $0.50 per share for a period of five years from the date of grant.

Rubicon Organics Inc. (ROMJ) wins Cannabis Company of the Year and People’s Choice Best Weed awards at the annual KIND Awards. The company, focused on cultivating and selling organic certified, premium cannabis, received recognition for its outstanding products and team strength. Margaret Brodie, Interim CEO and CFO, expressed pride and gratitude for the accolades, highlighting the company's trajectory towards profitability and robust financial position.