Rubicon Organics Announces Establishment of Diverse Genetic Library in British Columbia Facility
VANCOUVER, Feb. 11, 2019 /PRNewswire/ - Rubicon Organics Inc. (CSE:ROMJ) (OTCQX:ROMJF) ("Rubicon Organics" or the "Company"), a super-premium, organic cannabis producer with operations in Canada, Washington and California, is proud to announce the establishment of its diverse genetic library in its newly licensed, 125,000 sq. ft. facility in Delta, British Columbia.
"Our extensive genetic library features unique stabilized cultivars previously developed in the medical cannabis market and will be instrumental in our breeding program where we commit to bringing new and exciting strains to the Canadian market", said Jesse McConnell, Co-Founder and CEO of Rubicon Organics. "Plant genetics critically underpin our promise of high-quality terpene rich organic cannabis, therefore our library also includes cultivars not previously available in the Canadian market including Sour Cookies and Creek Congo, both known for their outstanding flavor and terpene profiles."
The extensive breadth and scope of the genetic library is a further sign of Rubicon Organics' commitment to quality through the development and stabilization of disease-free and pest-resistant cannabis cultivars for future commercial production. Rubicon Organics anticipates the first harvest at its Delta, BC facility in Q2 2019.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. ("Rubicon Organics" or the "Company) (CSE:ROMJ) (OTCQX:ROMJF) is a Licensed Producer focused on building super-premium organic cannabis brands with operations in Canada, Washington and California. Rubicon Organics' flagship Canadian facility is a 125,000 sq. ft. state-of-the-art hybrid greenhouse with industry leading LED lighting and is located on a 20-acre property in Delta, British Columbia. The Company's Washington facility is a newly constructed, 40,000 sq. ft. hybrid greenhouse and extraction facility. Rubicon Organics has commenced production in both facilities with a combined Phase I capacity of 15,500 kg per year, including 4,500 kg leased to a Washington State licensed operator applying Rubicon Organics' proprietary organic cultivation methods. The Company also owns two award-winning U.S. cannabis brands: 1964 Supply Co.TM in California and Doctor & Crook Co.TM in Washington.
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' plan to cultivate, timing and estimates of production for its facilities, are "forward-looking statements". Forward-looking information can be identified by the use of words such as "plans" or "is expected", or variations of such words and phrases or statements that certain actions, events or results are "to begin", "ramping up to", "imminent", "set to" or "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, that Rubicon Organics will be able to successfully obtain all necessary permits and approvals to conduct its business as currently proposed to be conducted, that Rubicon Organics will not be prosecuted in the U.S. for its involvement in the cannabis industry.
Risks and uncertainties associated with the forward looking information in this press release include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under U.S. federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Rubicon Organics' limited operating history and lack of historical profits; reliance on management; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. 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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SOURCE Rubicon Organics
Company Codes: CNSX:ROMJ, OTC-PINK:ROMJF
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