Rubicon Organics Announces Resignation of Board Member

Rhea-AI Summary

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.

Positive

• Leadership transition may bring fresh perspectives to the Board.
• Rubicon Organics continues to strengthen its focus on premium organic cannabis products.

Negative

• Julie's resignation could disrupt continuity on the Board.

VANCOUVER, British Columbia, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, announces the resignation of Julie Lassonde as a member of the Board of Directors effective October 31, 2022.

Ms. Lassonde joined as a Board Observer on December 14, 2020 and became a Director of the Company on January 10, 2022, following her receipt of customary security clearance from Health Canada. Ms. Lassonde was appointed Chair of the Board on May 20, 2022.

The Board of Directors and the Rubicon leadership team would like to thank Ms. Lassonde for her valuable contributions and insights over the past two years and wish her well in her future endeavours.

ABOUT RUBICON ORGANICS INC.

Rubicon Organics Inc. is the global brand leader in premium organic cannabis products. The Company is vertically integrated through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer. Rubicon Organics is focused on achieving industry leading profitability through its premium cannabis flower, product innovation and brand portfolio management, including its flagship super-premium brand Simply Bare™ Organic, its premium flower and hash brand 1964 Supply Co.™, its premium concentrate brand Lab Theory™, and its mainstream brand Homestead Cannabis Supply™.

The Company ensures the quality of its supply chain by cultivating, processing, branding and selling organic certified, sustainably produced, super-premium cannabis products from its state-of-the-art glass roofed facility located in Delta, BC, Canada.

CONTACT INFORMATION

Margaret Brodie
Chief Financial Officer
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com

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, statements regarding Rubicon Organics' goal 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 word 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 the effective date of the resignation and the ability attract and retain a new CEO. Risks and uncertainties associated with the forward looking information in this press release include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits for construction at its facilities in a timely manner; regulatory or political change such as changes in applicable laws and regulations, including bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Rubicon Organics' limited operating history and lack of historical profits; reliance on management; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and the effects of 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.

FAQ

What is the reason for Julie Lassonde's resignation from Rubicon Organics?

Julie Lassonde resigned as a member of the Board of Directors effective October 31, 2022.

How long did Julie Lassonde serve on the Board of Rubicon Organics?

Julie Lassonde joined as a Board Observer in December 2020 and became a Director in January 2022, serving until her resignation.

What impact might her resignation have on Rubicon Organics?

Her resignation could impact Board continuity and possibly influence strategic decision-making.

Who is the current Chair of the Board at Rubicon Organics?

As of the announcement, Rubicon Organics has not specified a new Chair following Julie Lassonde's resignation.