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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 (OTCQX: ROMJF) announced a secured debenture issuance of US$8 million to Green Island Investments Ltd. The two-year term debenture carries a 6.5% annual interest rate and includes 907,000 bonus warrants for the financier, allowing share purchases at $4.00 each over three years. CEO Jesse McConnell highlighted the importance of cash flexibility for product innovation and expansion across Canada. The company focuses on organic cannabis, aiming for industry-leading profitability through innovative brands like Simply Bare Organic and LAB THEORY.
Rubicon Organics Inc. (OTCQX: ROMJF) announced the receipt of purchase orders for its Simply Bare™ Organic Live Rosin and PAX® vaporizer products across Ontario, British Columbia, and Saskatchewan. This marks the brand's expansion into five cannabis product categories, including dry flower and concentrates. The CEO emphasized a strategic approach to innovation, highlighting the growth potential of their unique terpene profile. The company aims to become a global leader in organic cannabis products with a focus on profitability and product development.
Rubicon Organics Inc. (OTCQX: ROMJF) announced a significant milestone with its first purchase order from Cannabis NB for the 1964 Organic Apple Toffee flower product. This order signifies the nationwide rollout of their premium product line, 1964 Supply Co™, expanding their presence across eight provinces and territories in Canada. CEO Jesse McConnell emphasized this achievement as vital for their innovation strategy, aiming to enhance market share in the premium cannabis sector.
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) reported Q1 2021 financial results, achieving $4.1 million in net revenue, a significant increase from $454,043 in Q1 2020. However, net revenue declined by $0.7 million compared to Q4 2020 due to ongoing retail restrictions. The company encountered a net loss of $4 million and an Adjusted EBITDA loss of $3.4 million. Despite challenges, Rubicon maintained a strong market presence, especially in premium cannabis, and implemented a restructuring to save $2.6 million annually, with plans for product launches.
Rubicon Organics Inc. (TSXV: ROMJ, OTCQX: ROMJF) will participate in the BMO Farm to Market Conference on May 19-20, 2021. CEO Jesse McConnell will present via webcast on May 20 at 4:20 PM ET. Rubicon Organics, a licensed producer of organic cannabis, aims to be a global leader in organic products with brands like Simply Bare™ Organic and LAB THEORY™. The company focuses on sustainable practices and innovation to achieve industry-leading profitability.
Rubicon Organics Inc. (OTCQX: ROMJF) will report its financial results for Q1 2021 on May 18, 2021, before the market opens. A conference call will follow at 7:00 AM PT / 10:00 AM ET to discuss these results. Interested parties can join via local dial-in at (833) 900-2238 or international dial-in at (647) 689-5136. The company focuses on premium organic cannabis products, targeting industry-leading profitability through innovation and brand development, notably its Simply Bare Organic brand.
Rubicon Organics Inc. (OTCQX: ROMJF) announced a significant milestone with its first direct purchase order from Manitoba Liquor & Lotteries (MBLL), enhancing its distribution capabilities across Canada. After previously using a distributor, this change affirms Rubicon's commitment to premium cannabis products. Currently, the company’s offerings are available in six provinces and one territory, targeting over 90% of the Canadian population. This expansion supports their growth strategy and aims to solidify their position as a leader in organic cannabis.
Rubicon Organics (OTCQX: ROMJF) has fully repaid $8.4 million in second mortgages on its Delta, BC facility, utilizing proceeds from its recent equity financing of $23 million, completed on February 26, 2021. This strategic move is aimed at optimizing the company's capital structure by considering lower-cost debt options. Rubicon aims to solidify its position as a leader in the premium cannabis market, emphasizing product innovation and excellence to enhance profitability.
Rubicon Organics (OTCQX: ROMJF) announced a Cannabis Purchase and Sale Agreement with Yukon Liquor Corporation to distribute its organic cannabis products in Yukon. The company received its first purchase order and expects to ship in April 2021. This deal allows Simply Bare Organic products to reach more than 90% of the Canadian population, enhancing Rubicon's geographic presence. Additionally, Rubicon granted 2,540,000 restricted share units and 79,000 stock options to executives and employees as part of its equity incentive plan.
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