RUBICON ORGANICS INC - ROMJF STOCK NEWS

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.

Rubicon Organics reported a strong Q4 2020 with $4.8 million in net revenue, a significant 51% increase over the previous quarter. The company achieved $9.4 million in total revenue for its first year, driven by new product launches and expanded distribution. However, it posted a net loss of $5.0 million for Q4. The company aims for positive cash flow and improved profitability in 2021, while facing challenges from decreased demand due to external factors. Rubicon remains confident in its premium market strategy and expects to refinance some debt within favorable terms.

Rubicon Organics (TSXV: ROMJ) (OTCQX: ROMJF) announced the full repayment of its $5 million mortgage on the Delta facility, funded by a recent $23 million equity financing. The company will pursue long-term refinancing for remaining debt at better terms. CEO Jesse McConnell emphasized that this financing has minimized shareholder dilution during operational ramp-up and aims to enhance shareholder value through strategic capital allocation.