Rubicon Organics Announces Board Appointment and DSU Grant
VANCOUVER, British Columbia, Sept. 09, 2024 (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, is pleased to announce that Jesse McConnell has been appointed to the Company’s Board of Directors (“Board”) after receipt of security clearance from Health Canada. Mr. McConnell was elected to the Board by the shareholders at the Annual General Meeting on July 31, 2024, but his appointment to the Board was subject to being granted security clearance by Health Canada.
About Jesse McConnell
Jesse McConnell was the Co-Founder of Rubicon Organics in 2015 and served as its Chief Executive Officer from May 20, 2015, to December 31, 2022, Mr. McConnell is an entrepreneur, investor and cannabis expert who has worked in the premium cannabis industry in Canada and the US for over two decades. Previously, Mr. McConnell co-founded Whistler Medical Marijuana Corp., which was eventually acquired by Aurora Cannabis Inc. in 2019 for $175 million. Mr. McConnell holds a Bachelor of Arts, Economics (Honors) from Memorial University and a Master of Arts, Philosophy (Honors) from University of Victoria. He is also a member of the Northern Lights chapter of the Young Presidents’ Organization.
DSU Grant
The Company has awarded a total of 140,459 Deferred Share Units (DSUs) under its Omnibus Equity Incentive Plan to a director as compensation for their upcoming service. These DSUs will vest after twelve months from the grant date and can only be redeemed if the holder ceases to be a director of the Company or in accordance with the provisions of the Omnibus Equity Incentive Plan.
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 three flagship brands: its super-premium brand Simply Bare™ Organic, its premium brand 1964 Supply Co™, and its cannabis wellness brand Wildflower™ in addition to the Company’s 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
CEO
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com
The TSX Venture Exchange or 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. 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; the effect of capital market conditions and other factors on capital availability; the Company’s ability to attract and retain skilled staff; competition, including from more established or better financed competitors; 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.
