VANCOUVER, BC – Rubicon Organics Inc. (CSE:ROMJ) (“Rubicon Organics” or the “Company”), a premium organic cannabis company with operations in Canada, California and Washington, is pleased to announce that the Washington State Liquor and Cannabis Board (“LCB”) has granted a transfer of a tier 3 marijuana producer and processor license under I-502 regulations to the tenant of its 40,000 sq. ft. high-tech greenhouse facility.
The greenhouse tenant is preparing to commence production in the next month and will be utilizing Rubicon Organics’ proprietary growing methodology to produce premium quality, organic cannabis at low cost without any chemical fertilizers or pesticides. Rubicon Organics lease payments from the facility commence in 2019.
“Rubicon Organics’ Washington Facility is a state of the art, world class cannabis cultivation facility designed by Thomas Larssen Greenhouse Engineering. We look forward to demonstrating that when third party state licensed producers utilize Rubicon Organic’s intellectual property for organic cannabis cultivation, they are able to produce ultra-premium quality cannabis at a very low cost base.” said Jesse McConnell, Chief Executive Officer of Rubicon Organics.
The Washington Facility
Rubicon Organics’ purpose built, high-tech greenhouse facility in Ferndale, Washington, is capable of producing 4,500 kg per year of premium organic cannabis. The 40,000 sq. ft. facility has 30,000 sq. ft. of canopy for organic cannabis cultivation and a 10,000 sq. ft. processing area.
Washington is home to around 488 regulated I-502 licensed retail outlets, and the state plans to license more in the near future. In 2017, Washington State’s I-502 Washington retail cannabinoid sales reached almost US$1 billion, generating nearly US$1 million in taxes daily and nearly outperforming the state’s liquor sales.
On Behalf of the Board of Directors,
Rubicon Organics Inc.
Chief Executive Officer & Director
Phone: +1 (437) 929 1964