- Trading on TSX Venture Exchange to commence September 22, 2020 under ticker symbol ROMJ
VANCOUVER, British Columbia, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (CSE:ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, is pleased to announce that further to its press release dated July 27, 2020, the Company has received final approval to list its common shares and 3,150,000 warrants of the Company on the TSX Venture Exchange (the “TSX-V”).
The common shares and warrants of the Company are expected to be voluntarily delisted from the Canadian Securities Exchange at the close of trading on September 21, 2020 and are expected to commence trading on the TSX-V at the opening of trading on September 22, 2020. The Company’s common shares will continue to trade under the symbol “ROMJ” and its warrants will continue to trade under the symbol “ROMJ.WT”.
“Rubicon Organics is listing on the TSX-V to increase the liquidity of our common shares and raise our profile in the capital markets. Having recently closed an equity financing during very challenging market conditions, we have secured the balance sheet we require to execute on a very exciting pipeline of milestones which includes ramping production and revenue at our Delta, BC facility, expanding our distribution capabilities and investing in product innovation showcasing our super-premium and organic certified cannabis,” said Jesse McConnell, Chief Executive Officer.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc., through its wholly owned subsidiary Vintages Organic Cannabis Company Inc., is a licensed producer focused on cultivating and selling organic certified, premium cannabis from 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 through the development of the brand identity Simply Bare™ Organic, that combines the sale of high-margin, premium organic products with low-cost sustainable production. The Company is currently ramping up to production capacity of 11,000 kg per year of organic certified and environmentally sustainable cannabis.
CONTACT INFORMATION
Margaret Brodie
Chief Financial Officer
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Canadian Securities Exchange accepts 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 regarding the Company’s expectations of when its securities will be delisted from the CSE and when trading will commence on the TSX-V; the Company’s belief that listing on the TSX-V will provide it and its shareholders with advantages, including greater visibility and enhanced market access for Canadian and international investors; the Company’s belief that it will gain more exposure through a larger market by listing on the TSX-V; the Company’s intention of achieving industry leading profitability; and the Company’s belief that it will achieve an annual production run rate of approximately 11,000 kg of certified organic, premium and environmentally sustainable cannabis 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 though 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.
