BELLINGHAM, Wash.--(BUSINESS WIRE)--
Rubicon Organics (“Rubicon” or the “Company”) is pleased to announce that its application to the City of Greenfield for a municipal cultivation and manufacturing permit has been approved. The Company plans to develop a high-tech greenhouse facility of approximately 80,000 square feet. This facility, in addition to the Company’s Washington State facility, will ensure consistent production of low-cost, connoisseur-grade, organic cannabis. Advanced climate-controlled Dutch greenhouses use 90% less energy by using direct sunlight, and, when coupled with Rubicon’s proprietary organic growing system, they will produce 25% to 30% higher yields at a significantly lower cost when compared to conventional, warehouse-style production systems.
“Our core beliefs rest on the notion that the opportunity is now to invest in and develop an energy-efficient, sustainable infrastructure that will create the foundation for ethically produced, high-quality, organic cannabis products for decades to come. With a secure licensed supply chain we can continue to develop, acquire and partner with industry-leading brands and organizations.”
-Jesse McConnell, CEO Rubicon Organics
Rubicon Holdings, Inc. (“Rubicon Organics” or “Rubicon”), a Washington State corporation, is a cannabis company focused on the United States recreational and medical marijuana markets. Rubicon has an established extraction lab, order fulfillment center and, through working with a licensed processor, has commenced sales under the Doctor & Crook Co.TM brand in Washington State. Rubicon is constructing a two-phase, high-tech, licensed greenhouse in Washington State totaling 100,000 square feet to produce high-quality, low-cost marijuana using certified organic inputs. Rubicon plans to continue to build its business into California with an 80,000-square-foot, high-tech greenhouse, extraction and manufacturing facility and order fulfillment center in 2017. Rubicon also expects to launch its premium Supplied by 1964TM brand in California this summer. The greenhouses are designed to be modular for expansion capability. Rubicon seeks to continue its expansion with new brand launches, product development and opportunities in other states and countries.
This press release (the “Release”) contains forward-looking information which deals with intentions, beliefs, expectations and future results as they pertain to Rubicon Organics. This forward-looking information also includes information regarding the financial condition and business of the Company, as they exist at the date of this Update. Forward-looking information is often, but not always, identified by the use of words such as “seeks,” “believes,” “plans,” “expects,” “intends,” “estimates,” “anticipates,” “objective,” “strategy” and statements that an event or result “may,” “will,” “should,” “could,” or “might” occur or be achieved and other similar expressions. This forward-looking information includes, without limitation, information about the Company’s opportunities, strategies, competition, expected activities and expenditures as the Company pursues its business plan, the adequacy of the Company’s available cash resources and other statements about future events or results. Forward-looking information is information about the future and is inherently uncertain, and the actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, such as business and economic risks and uncertainties. The forward-looking information is based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, the ability of outside service providers to deliver services in a satisfactory and timely manner, prevailing exchange rates and prevailing regulatory, tax and environmental laws and regulations. The Company’s forward-looking information is based on these beliefs, expectations and opinions of management of the Company on the date the information is provided. For the reasons set forth above, investors should not place undue reliance on forward-looking information.