Rubicon Organics Provides Operational Update
Rubicon Organics Inc. (TSXV: ROMJ, OTCQX: ROMJF) reported significant growth in market share, achieving 2.2% in the flower and pre-roll category for the three months ending October 31, 2021. Its brand, Simply Bare™ Organic, has become the #1 premium flower and pre-roll brand in Canada. The company's distribution expanded by 125%, now reaching over 1,800 retail locations. Rubicon's product portfolio has grown to over 60 unique SKUs, enhancing profitability potential. The company is committed to product quality and expanding its brand presence across major provinces.
- Achieved a market share of 2.2% in the Canadian flower and pre-roll category.
- Simply Bare™ Organic became the #1 premium flower and pre-roll brand in Canada.
- Expanded distribution by 125%, now available in over 1,800 retail locations.
- Increased product portfolio from approximately 19 to over 60 unique SKUs within a year.
- None.
- Simply Bare™ Organic becomes the #1 premium flower and pre-roll brand in Canada
- Rubicon Organics increased its market share in the Canadian flower and pre-roll category to
2.2% for the three months ended October 31, 2021
VANCOUVER, British Columbia, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified and premium cannabis products, is pleased to provide an operational update for the period ending October 31, 2021.
Management Commentary
“We are quickly climbing the ranks in total market share across Canada and have established Simply Bare™ Organic as the leading premium flower and pre-roll brand. This reflects our steadfast commitment to product quality and the broader availability of a more accessible product portfolio with the launch of 1964 Supply Co.™ and Homestead Cannabis Supply™ in major provinces,” said Jesse McConnell, Chief Executive Officer.
Market Share Momentum
For the three months ending October 31, 2021 the Company’s total market share in the flower and pre-roll category increased to
Furthermore, according to Hifyre, Simply Bare™ Organic currently ranks as the #1 premium brand by sales of flower and pre-roll products across Canada for the year-to-date period ending September 30, 20212.
Highlights2 by major province in the premium and organic categories include:
- BC: #1 premium brand in flower and pre-roll, #1 brand in organic flower and pre-roll
- Quebec: #1 premium brand in flower and pre-roll, #2 premium brand in hash, and #1 brand in organic flower and pre-roll
- Ontario: #4 premium brand in flower and pre-roll and #1 brand in organic flower and pre-roll
- Alberta: #6 premium brand in flower and pre-roll, and #2 brand across all pre-roll price points
Rubicon Organics is also very pleased to highlight market share achievements in the premium pre-roll product category3:
- Nationally: #1 premium brand in pre-roll in Canada with market share of
18.5% - BC: #1 premium brand in pre-roll in the province with market share of
25.9% - Ontario: #1 premium brand in pre-roll with market share of
13.6% - Quebec: #1 premium brand in pre-roll with market share of
31.2%
Core Brand Portfolio Established
Rubicon Organics has made significant advancements in the depth of its product portfolio. As of October 31, 2021, Rubicon Organics has over 60 unique SKUs across five brands, up from approximately 19 at the beginning of the year. With the establishment of a broad core product portfolio, Rubicon now has the ability to optimize margins across pricing segments through leveraging the product mix in its brand portfolio. Future innovation will now largely sit under its brand umbrella and is focused on category extension of premium genetic offerings and the introduction of additional high margin 2.0 products.
Wider Distribution Channel
The Company’s distribution channel width has increased by
Facility Optimization
The Company has also recently commissioned two of six new HVAC units at its Delta facility, with final commissioning expected by the end of January 2022. These units will further drive product quality and yields.
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 a focus on differentiated 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, premium cannabis products from its state-of-the-art glass roofed indoor 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, and statements such as the nature of future product innovation, the Company’s belief that it is becoming the global brand leader in organic cannabis products, and the Company’s intention 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 words 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 that its capital needs will be as currently projected. Risks and uncertainties associated with forward looking information in this press release include, among others, information or statements concerning the Company’s expectations of financial resources available to fund operations; Rubicon Organics' limited operating history and lack of historical profits; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the Company’s ability to obtain financing at reasonable terms through the sale of equity and/or debt commitments; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; that our current relationships with our suppliers, service providers and other third parties will be maintained; and the impact of the current global health crisis caused by 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.
1 Hifyre data for the period between August 1, 2021 and October 31, 2021.
2 Hifyre data for the period between January 1, 2021 and September 30, 2021.
3 Hifyre data for the period between January 1, 2021 and September 30, 2021.
FAQ
What is Rubicon Organics' market share for the three months ending October 31, 2021?
Which brand became the #1 premium flower and pre-roll brand in Canada?
How many retail locations carry Rubicon Organics products as of October 31, 2021?
How much did Rubicon Organics increase its product portfolio?
