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Rubicon Organics Inc (ROMJF) is a Canadian-based company engaged in the production and distribution of high-quality, organic cannabis products. The company focuses on sustainable cultivation practices, innovative product development, and strategic brand positioning to become a leading player in the cannabis industry.
With a diverse product portfolio that includes flower, pre-rolled products, concentrates, and edibles, Rubicon Organics aims to cater to various consumer preferences in the Canadian cannabis market.
Recent financial results indicate a positive outlook for the company, with plans for operational growth, expansion of market share, and refinancing of debt to support long-term sustainability. The company's commitment to quality, brand differentiation, and operational efficiency sets it apart in the competitive cannabis landscape.
Rubicon Organics reported significant growth in its financial results for 2022, achieving a record net revenue of $35.5 million, reflecting a 57% increase compared to 2021. The company reached Adjusted EBITDA profitability of $1.9 million and positive operating cash flow of $2.0 million. In Q4 2022, net revenue was $11.0 million, up 61% year-over-year. Despite challenges, including production adjustments and market competition, Rubicon maintained a 6.3% national market share in premium cannabis products and anticipates continued growth in 2023.
Rubicon Organics Inc. (OTCQX: ROMJF) has appointed Michael Detlefsen to its Board of Directors and plans to nominate four additional candidates for election at the upcoming AGM in summer 2023. This strategic move aims to enhance the company's expertise across various sectors, including strategy, finance, and regulation, to further its commitment to profitability in Canada's cannabis industry. The newly appointed and nominated members bring vast experience from diverse industries, with Detlefsen notably having held senior roles at major corporations like Air Canada and Bell Canada. The company continues to focus on premium organic cannabis products sourced from its facility in Delta, BC.
Rubicon Organics (OTCQX: ROMJF), a leader in premium organic cannabis, will release its financial results for the year ending December 31, 2022, on March 31, 2023. A conference call to discuss the results is scheduled for April 3, 2023, at 7:00 AM PT / 10:00 AM ET, with Conference ID 24261214. Interested parties can join via local dial-in at +1 (416) 764 8646 or toll-free North America at +1 (888) 396 8049. The call will be available on webcast here. Rubicon Organics focuses on achieving industry-leading profitability through its premium offerings.
Rubicon Organics Inc. (OTCQX: ROMJF) has granted 1,055,000 stock options to employees under its Equity Incentive Plan. The options allow the purchase of shares at $0.90 each for five years and vest in equal annual tranches over three years. Rubicon Organics specializes in premium organic cannabis products and operates a licensed production facility in Delta, BC. The company focuses on profitability through various premium brands, including Simply Bare™ Organic and 1964 Supply Co.™.
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) held its Annual General and Special Meeting on December 13, 2022, with 76.38% of shares represented. Shareholders approved key resolutions, including the election of five directors and the appointment of PricewaterhouseCoopers LLP as auditors. Jesse McConnell announced his resignation as CEO effective December 31, 2022, with Margaret Brodie stepping in as Interim CEO. The Board is actively seeking new independent directors. Rubicon aims to maintain its position as a leader in premium organic cannabis.
Rubicon Organics (OTCQX: ROMJF) reported a record Q3 2022, achieving net revenue of CAD 10.5 million, marking a 49% year-over-year growth. The company also recorded its first positive net income of CAD 2.0 million and a positive Adjusted EBITDA of CAD 1.9 million. Rubicon's operating cash flow was CAD 1.4 million with a Free Cash Flow of CAD 0.4 million. The company holds an 8.0% market share in the premium cannabis segment. Rubicon reconfirmed its guidance for positive Adjusted EBITDA and operating cash flow for H2 2022 amidst growing consumer demand for its organic cannabis products.
Rubicon Organics (TSXV: ROMJ, OTCQX: ROMJF) will hold its Annual General and Special Meeting on December 13, 2022, at 10:00 AM PT at the Terminal City Club in Vancouver. Key agenda items include receiving audited financial statements for the year ended December 31, 2021, electing directors, appointing auditors, and amending stock options. Shareholders can access detailed information and attend via a live webcast. The record date for participation is November 1, 2022, with all relevant materials available on SEDAR.
Rubicon Organics (TSXV: ROMJ) (OTCQX: ROMJF) announced the resignation of Board Chair Julie Lassonde effective October 31, 2022. Lassonde joined the Board as a Director in January 2022 following health security clearance and had been serving as Chair since May 2022. The leadership team expressed gratitude for her contributions over her tenure.
Rubicon Organics is a leader in premium organic cannabis and is focused on achieving industry-leading profitability through its products, including the Simply Bare™ Organic brand.
Rubicon Organics Inc. (OTCQX: ROMJF) announced that it will report its financial results for Q3 2022 on November 14, 2022. A conference call is scheduled for November 15, 2022, at 7:00 AM PT / 10:00 AM ET to discuss these results. Rubicon Organics focuses on cultivating and selling premium organic cannabis products and operates from a state-of-the-art facility in Delta, BC. The company aims for industry-leading profitability with its innovative product line, including the flagship Simply Bare™ Organic brand.
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