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Rubicon Organics Announces Results of Annual General and Special Meeting

VANCOUVER, British Columbia, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (CSE:ROMJ) (ROMJF) (“Rubicon Organics” or the “Company”) announces that shareholders have approved of all resolutions brought before them at the Annual General and Special Meeting of Shareholders ("AGM") held on August 2, 2019.  A total of 22,475,728 shares were represented in person or by proxy at the meeting, representing approximately 61.06% of the Company's outstanding shares.

Results of Annual General & Special Meeting

All management nominees listed in the Company's management information circular filed on SEDAR on July 9, 2019, were elected as directors of the Company until the next annual meeting of shareholders. Voting results for individual directors are set out below:

Name of Nominee Votes For % Votes For
Margaret Brodie 22,139,253 100%
Bryan Disher 22,139,253 100%
David Donnan 22,139,253 100%
Jesse McConnell 22,139,253 100%
John Pigott 22,139,253 100%

In addition, Deloitte LLP was unanimously approved by shareholders as the Company’s external auditor and will hold office until the next annual meeting at such remuneration as may be determined by the directors of the Company.  Shareholders also voted 90.3% in favor of the Company’s proposed Deferred Share Unit Plan.

An updated corporate presentation presented at the Annual and Special Meeting is available for viewing on Rubicon Organics’ website at www.rubiconorganics.com.

ABOUT RUBICON ORGANICS INC.

Rubicon Organics Inc. is a Licensed Producer focused on building certified organic, super-premium cannabis brands at its flagship 125,000 sq. ft. state-of-the-art hybrid greenhouse located on a 20-acre property in Delta, BC, Canada. Management has unparalleled cannabis and organic farming expertise as well as prior successful commercialization of cannabis with Whistler Medical Marijuana Company, which was purchased by Aurora Cannabis in January 2019 for $175 million.

The Corporation is currently ramping up to produce approximately 11,000 kg of certified organic, super-premium and environmentally sustainable cannabis in 2020 and on creating super-premium brands in Canada. In the United States, the Corporation owns a 40,000 square-foot, high-tech hybrid greenhouse in Washington state which is leased to a state-licensed operator applying Rubicon Organics’ proprietary organic cultivation methods. The Corporation also owns two award-winning U.S. cannabis brands: 1964 Supply Co.TM and Doctor & Crook Co.TM; and has exclusive licensing rights in Washington for iconic lifestyle and cannabis brand, Cookies.

CONTACT INFORMATION

Corporate:
Shirley Anthony         
Director, Investor Relations
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com

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' proposed brand launches and path to market 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 upon certain assumptions that management considers reasonable in the circumstances, including that its capital needs will be as currently projected. 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.