Rubicon Organics Inc., a licensed producer focused on cultivating and selling organic certified cannabis, today announced that it has received its first purchase order from the Société québécoise du cannabis (SQDC) under the letter of understanding that was announced on November 24, 2020.
Rubicon Organics is launching the 1964™ brand exclusively for Quebec. The 1964™ brand will include both flower and hash. The Company’s product portfolio in Quebec will include dry flower and pre-rolls sold under the Simply Bare™ Organic brand and flower and hash sold under the 1964™ brand. All products are expected to be made available in store effective immediately.
“We are capping out an incredible year in which we have delivered on the commitments made to our supply partners, customers and shareholders. We are thrilled to have our product available to Quebec consumers in 2020 and they can expect targeted best-in-class product offerings from our 1964™ and Simply Bare™ Organic brands,” said Jesse McConnell, Chief Executive Officer. “With our brand and product portfolio maturing, we expect to see continued revenue growth as we make our way towards adjusted EBITDA profitability in the near term.”
Restricted Share Awards
In addition, the Company has granted an aggregate of 300,000 restricted share awards (“RSAs”) in accordance with the Company’s equity incentive plan to certain officers of the Company. The RSAs vest immediately as compensation for their services.
Rubicon Organics Inc. is becoming the global brand leader in organic cannabis products. Through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer, the Company cultivates, processes and sells organic certified, sustainably produced cannabis products from its state-of-the-art hybrid greenhouse located in Delta, BC, Canada. Rubicon Organics is focused on achieving industry leading profitability through a focus on innovation and the development of brands and cannabis 2.0 products, including its flagship brand Simply Bare™ Organic and its concentrate brand LAB THEORY™.