Bellingham, Washington – RUBICON HOLDINGS, INC. (“Rubicon” or the “Company”) is pleased to announce that it has closed the second tranche of its non-brokered private financing at US$1.6 million, completing a total of US$7.4 million raised.
The net proceeds from the financing will be used for the construction of Rubicon’s Washington State greenhouse, production facility, the buildout of Washington operations, as well as for general corporate purposes.
The Company is also pleased to announce that the extraction laboratory is under construction and is expected to be completed and licensed in the second quarter of 2016. Additionally, Thomas Larssen of Larssen Ltd. has been retained to design the facility and a bid proposal is underway.
Rubicon Holdings, Inc. (“Rubicon”), a Washington State corporation, is a cannabis company focused on the United States recreational and medical marijuana markets. Rubicon has an established extraction lab, order fulfillment center and with a licensed processor has commenced sales under the Doctor & Crook Co.™ brand in Washington State. Rubicon is constructing a two phase, high-tech, licensed greenhouse in Washington State totaling 100,000 square-feet to produce high-quality, low-cost marijuana using certified organic inputs. Rubicon plans to continue building its business into California with an 80,000 square-foot, high-tech greenhouse, extraction and manufacturing facility and order fulfillment center in 2017. Rubicon expects to also launch its premium Supplied by 1964™ brand in California that year. The greenhouses are designed to be modular for expansion capability. Rubicon seeks to continue its expansion with new brand launches, product development and opportunities in other states and countries as well.
Forward Looking Statements
This press release (the “Release”) contains forward-looking information which deals with intentions, beliefs, expectations and future results as they pertain to Rubicon Holdings, Inc. (the “Company”) and the Company’s industry. This forward-looking information also includes information regarding the financial condition and business of the Company, as they exist at the date of this Update. Forward-looking information is often, but not always, identified by the use of words such as “seeks”, “believes”, “plans”, “expects”, “intends”, “estimates”, “anticipates”, “objective”, “strategy” and statements that an event of result “may”, “will”, “should”, “could”, or “might” occur or be achieved and other similar expressions. This forward-looking information includes, without limitations, information about the Company’s opportunities, strategies, competition, expected activities and expenditures as the Company pursues its business plan, the adequacy of the Company’s available cash resources and other statements about future events of results. Forward-looking information is information about the future and is inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, such as business and economic risks and uncertainties. The forward-looking information is based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, the ability of outside service providers to deliver services in a satisfactory and timely manner, prevailing exchange rates and prevailing regulatory, tax and environmental laws and regulations. The Company’s forward-looking information is based on these beliefs, expectations and opinions of management of the Company on the date the information is provided. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
Source: Rubicon Holdings, Inc.
Rubicon Holdings, Inc.
360 306 5924