CSE New Listing - Rubicon Organics Commenced Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2018) - Rubicon Organics Inc. (CSE: ROMJ), a premium organic cannabis company, is one of the latest new listing on the Canadian Securities Exchange, trading under the symbol "ROMJ". The company, through a subsidiary, is a late-stage applicant under Health Canada's Access to Cannabis for Medical Purposes Regulations.
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The license application is on the company's Delta Facility, a wholly-owned 20-acre property in Delta, British Columbia, with an existing 125,000 square-foot greenhouse. The greenhouse facility is currently being retrofitted for cannabis cultivation and upon completion, management anticipates the facility will be capable of producing approximately 11,000 kilograms per year of dried cannabis in Phase I of planned production. The company's planned Phase II and Phase III expansion would, if successfully implemented, increase the facility's cannabis production capacity to a total of 67,000 kilograms per year.
The company intends to complete an organic certification process with the Fraser Valley Organic Producers Association and, if successful, expects to be one of only a few LPs in Canada to provide certified organic cannabis.
The company anticipates completing the Delta Facility retrofit and to obtain organic certification and commercial production approval for sale in the first half of 2019.
In the United States, Rubicon and its affiliates lease or sublease turnkey cannabis production facilities to licensed cannabis producers.
The company has established 2 rapidly growing cannabis brands, Nineteen Sixty-Four Supply Company and Doctor and Crook Company which it licenses to state-licensed producers and processor licensees in California and Washington.
The company has a signed Letter of Intent to supply the German medical market, the largest in Europe, with an estimated potential value of US$12 billion.
Jesse McConnell, CEO, stated: "Rubicon Organics is excited to achieve this milestone as we work toward becoming the second publicly traded organic cannabis producer. Today's announcement is a significant landmark for Rubicon Organics and provides for investor access to a second organic player in the public markets as well as exposure to the U.S. cannabis sector. Our team helped develop one of the first certified organic cultivation facilities in the world with Whistler Medical Marijuana Corporation and now, thanks to the support of our shareholders, Rubicon Organics is in the process of developing one of the first large-scale, high tech, certified organic greenhouses in the world."
The company recently raised gross proceeds of $11,891,000 through a prospectus offering of 3,658,820 units, priced at $3.25, with each unit consisting of one share and one-half a warrant, with each warrant exercisable at $4.20 for 24 months.
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