Rubicon Organics Acquires Rare New Genetics
- Globe NewswireDecember 19, 2019
Acquired rare new genetic material from Just Kush Enterprises Ltd
VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) — Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”), through its wholly owned subsidiary Vintages Organic Cannabis Company Inc., has acquired rare new genetic material from Just Kush Enterprises Ltd. (“Just Kush”), a subsidiary of Liberty Leaf Holdings Ltd. The acquisition provides the Company with over 30 new strains, some of which are yet to be available for sale in Canada, for future commercial production.
“The introduction of new plant genetics is essential for the legal cannabis market to thrive and plays a critical role in the development of high-quality, terpene-rich organic cannabis,” said Jesse McConnell, Chief Executive Officer of Rubicon Organics. “Through the purchase of exotic new strains, Rubicon Organics is demonstrating its commitment to bringing exciting, fresh and flavourful new experiences to consumers.”
“This acquisition of rare new genetics will help fuel our product innovation pipeline over the next 24 months for both the domestic and international markets,” said Tim Roberts, President of Rubicon Organics. “Our launch of the popular Blue Dream and exotic Creek Congo strains through the Simply BareTM brand in Canada represents the beginning of an exciting product rollout strategy that consumers can expect to see unfold throughout 2020.”
The Company is pleased to work alongside other British Columbia cultivators to help support high-quality cannabis cultivation in the province. As part of the genetic purchase agreement, Rubicon Organics has agreed to support Just Kush with services including assistance with cannabis sales and certain crop consulting.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. holds a license to cultivate and process cannabis and is focused on cultivating and branding certified organic, super-premium cannabis at its flagship 125,000 sq. ft. state-of-the-art hybrid greenhouse located on a 20-acre property in Delta, BC, Canada. The Company is focused on achieving industry leading profitability by combining the sale of high-margin, super-premium organic products with low-cost production.
The Corporation is currently ramping up to production capacity of 11,000 kg of certified organic, super-premium and environmentally sustainable cannabis in 2020 and on creating super-premium brands in Canada. In the United States, the Corporation owns a 40,000 square-foot, high-tech hybrid greenhouse in Washington state which is leased to a state-licensed operator applying Rubicon Organics’ proprietary organic cultivation methods. The Corporation also owns two award-winning U.S. cannabis brands: 1964 Supply Co.TM and Doctor & Crook Co.TM; and has exclusive licensing rights in Washington for iconic lifestyle and cannabis brand, Cookies.
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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’ proposed brand launches and path to market 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 that its capital needs will be as currently projected. 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 state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, 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. 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.Back to Top