VANCOUVER, British Columbia, May 22, 2025 (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 products, is pleased to announce the removal of all conditions precedent, related to its previously announced purchase and sale agreement (the “PSA”) with Medipharm Labs Inc. for an operational, purpose-built 47,500 square foot indoor cultivation facility in Hope, British Columbia (the “Hope Facility”).
This milestone clears the path for Rubicon Organics to finalize the acquisition of the Hope Facility, which is expected to significantly expand the Company’s premium production capacity and support its growth strategy.
“Our acquisition of the Hope Facility marks a pivotal step forward, for Rubicon Organics,” said Margaret Brodie, Chief Executive Officer of Rubicon Organics. “The Hope Facility enhances our ability to meet growing demand for our premium brands, accelerate innovation, and drive long-term value for shareholders.”
The Company expects to close the acquisition of the Hope Facility in the second quarter and will provide further updates as they become available.
About the Hope Facility
The Hope Facility spans 47,500 square feet of purpose-built indoor capacity and is equipped with advanced cultivation technology, supporting Rubicon Organics’ strategy to expand its premium product offerings and increasing supply to meet rising demand. The Company estimates annual production capacity of the Hope Facility to be up to 4,500 kgs and expects Rubicon Organics’ first harvests by the end of 2025, with revenue realized in early 2026.
The Company will provide further updates on the transaction and production timelines in the coming months.
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’ expectation of finalizing the Hope Facility acquisition; of bolstering growth, market leadership, and new innovation from the acquisition of the Hope Facility, and 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 on certain assumptions that management considers reasonable under the circumstances, including the Company’s acquisition of the Hope Facility, the Hope Facility strengthening the Company’s premium production capacity, growing demand of the Company’s leading brand portfolio, the acceleration of the Company’s growth beyond its existing footprint, the intended use of the Hope Facility, the ability of the Company to successfully complete the acquisition of the Hope Facility and the expected timing of completion of the acquisition of the Hope Facility. These assumptions include securing necessary financing, the impact of the Hope Facility on the Company’s business, completing due diligence, obtaining required regulatory approvals such as licensing, and fulfilling other customary closing conditions. These statements are based on current expectations, estimates, and projections about the Company’s business and the industry in which it operates. Risks and uncertainties associated with the forward-looking information in this press release include, among others, risks related to regulatory approvals, changes in market conditions, competition, supply chain disruptions, the Company’s ability to maintain certification standards, and the successful implementation of its business strategy. 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.
