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Rubicon Organics to Acquire Cultivation Facility in BC to Strengthen Leadership in Premium Cannabis
VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ...
About this update from Rubicon Organics, Inc.
[{"type":"text","content":"Rubicon Organics to Acquire Cultivation Facility in BC to Strengthen Leadership in Premium Cannabis\n\n\n\n VANCOUVER, British Columbia, March 03, 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 that it has entered into a purchase and sale agreement (the “\n \n PSA\n \n ”) with Medipharm Labs Inc. in which Rubicon Organics intends to acquire an operational, purpose-built 47,500 square foot indoor cultivation facility in Hope, British Columbia (the “\n \n Hope\n \n\n Facility\n \n ”).\n \n\n “Acquiring the Hope Facility is a milestone for Rubicon Organics and further strengthens our premium production capacity setting up Rubicon Organics to service the growing demand for our leading brand portfolio, and accelerating our growth beyond our existing footprint,” said Margaret Brodie, Chief Executive Officer.\n \n\n Pursuant to the terms of the PSA, the purchase price for the Hope Facility is $4,500,000 and is subject to conditions including the Company’s satisfaction with due diligence, financing and approval of the Company’s board of directors. The Company intends to use the Hope Facility to increase its production capacity. The transaction is expected to close in the second quarter of 2025.\n \n\n\n About the Hope Facility\n \n\n\n 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 in 2025.\n \n\n The Company will provide further updates on the transaction and production timelines in the coming months.\n \n\n\n ABOUT RUBICON ORGANICS INC.\n \n\n\n 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 profitab...