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Rubicon Organics Announces Re-Appointment of Two Board Members

VANCOUVER , April 24, 2019 /CNW/ - Rubicon Organics Inc. (ROMJ.CN) (ROMJF) ("Rubicon Organics" or the "Company") is pleased to announce the re-appointment of Mr. Bryan Disher and Mr. David Donnan to its Board of Directors.

Rubicon Organics (CNW Group/Rubicon Organics)

As previously announced on January 28, 2019 , Mr. Disher and Mr. Donnan resigned as members of the Board of Directors to allow the Company to receive its cultivation and processing licenses from Health Canada in the most timely manner as there were delays with their foreign security clearances.  With their foreign security clearances now received, Mr. Disher and Mr. Donnan have been re-appointed to the Board of Directors and will complete the required security checks under the Cannabis Act.  

"Mr. Disher and Mr. Donnan each bring a wealth of knowledge that complement and enhance our current Board.  Their track record of success will be invaluable to Rubicon Organics and we are excited to have Mr. Disher and Mr. Donnan rejoin the Board at such a pivotal time for our Company", commented Jesse McConnell , Co-Founder and CEO of Rubicon Organics.

Mr. Disher is a retired partner from PwC Canada and has 37 years of experience with the firm's practices in Canada , Australia and Ukraine . He has assisted companies with public offerings in Canada and the United States , acquisitions, financial reporting, regulatory compliance and governance. He served on the Board of Directors of PwC Canada for eight years, including a term as Chair. Mr. Disher also serves as a Director for Balmoral Resources Ltd., Lexington Bioscience, Inc. and Minds + Machines Group Limited. Mr. Disher is a CPA, CA and holds a Bachelor of Business Administration from the University of New Brunswick .

Mr. Donnan is a leader in the global food and agriculture sector with over 35 years of experience working in consumer products, technology and retail industries. He is currently a Partner Emeritus at A.T. Kearney and was previously a Senior Partner at the firm where he led their global food and beverage team. His expertise in leading transformation projects in business and growth strategy, supply chain design has propelled him to the forefront at conferences where he addresses issues in global food supply, advanced technologies and economic trends in the food industry. Mr. Donnan holds a Bachelors of Science, Engineering from the University of Toronto and a Masters of Business Administration from the University of Toronto , Rotman School of Business.

ABOUT RUBICON ORGANICS INC.

Rubicon Organics Inc. ("Rubicon Organics" or the "Company) (ROMJ.CN) (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 .

* Organic certification pending from FVOPA

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.

Cision

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SOURCE Rubicon Organics


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