Rubicon Organics Receives Conditional Approval to List on the TSX Venture Exchange
July 27th, 2020
VANCOUVER, British Columbia, July 27, 2020 (GLOBE NEWSWIRE) — Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) (“Rubicon Organics” or the “Company”) is pleased to announce that it has received conditional approval to list the common shares and 3,150,000 warrants of the Company on the TSX Venture Exchange (the “TSX-V”). The listing is subject to the Company fulfilling certain requirements of the TSX-V in accordance with the terms of its conditional approval letter dated July 23, 2020.
The Company is actively working to satisfy these conditions over the coming weeks and expects to commence trading on the TSX-V in September 2020. The Company will issue a further press release to inform shareholders once final approval has been obtained. The Company anticipates that the common shares will trade under the trading symbol “ROMJ” and the warrants will trade under the symbol “ROMJ.WT”.
“Moving our listing from the Canadian Securities Exchange to the TSX-V marks another important milestone on our journey to become Canada’s leading organic cannabis company”, stated Jesse McConnell, CEO of Rubicon Organics. “We believe that listing on the TSX-V will provide the Company and its shareholders with greater liquidity and enhanced market access for Canadian and international investors.”
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, super-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 BareTM Organic, that combines the sale of high-margin, super-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.
Chief Financial Officer
Phone: +1 (437) 929-1964
Email: [email protected]
Neither the CSE nor its Regulation Services Provider 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, statements regarding the Company’s expectation that it will fulfill the TSX-V’s conditions and that trading of the Company’s common shares and 3,150,000 warrants will commence in September 2020, or at all; the Company’s anticipated trading symbols; the Company’s belief that it will achieve an annual production run rate of approximately 11,000 kg of certified organic, super-premium and environmentally sustainable cannabis; and the Company’s believe that listing on the TSX-V will provide the Company and its shareholders with greater liquidity and enhanced market access for Canadian and international investors 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.
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