Appointment of Chief Executive Officer
The board of directors of the Company (the “Board”) is pleased to announce the appointment of
“We are delighted to appoint Margaret as our CEO. Margaret has been the CFO of Rubicon since our inception and she also served as our interim CEO over the past year. She has distinguished herself as a very capable and respected leader with a deep understanding of the regulated Canadian cannabis sector. We are confident that her strategic skills will play a pivotal role in the continued success of Rubicon. As we persist in our pursuit of growth and unwavering dedication to delivering top-tier cannabis products, Margaret's guidance, along with the incredible team she has helped to build, will undoubtedly be a cornerstone of our journey,” expressed
“Rubicon Organics is taking its position as a Canadian leader in premium and organic cannabis and I am proud to take on the role as the CEO. As I transition from the role of CFO to helm the company's strategic direction, I am energized by the tremendous opportunities that lie before us in 2024 and beyond. I am committed to leading our talented team towards continued innovation, sustained growth, and the realization of our collective vision for success. Together, we will embark on an exciting journey as we navigate the next phase of Rubicon’s evolution,” said
About
Appointment of Chief Financial Officer and Corporate Secretary
The Company is also pleased to announce the appointment of
“I am thrilled to extend a warm welcome to Janis in her new capacity as CFO,” announced
“I am honoured to assume the role of CFO and am excited to lead with vision, strategy and dedication towards the execution of Rubicon's business strategy. My commitment is to generate sustainable value for all stakeholders, and to continue driving the financial success for the company,” expressed
About
With a career spanning over two decades in the fast-moving consumer goods sector,
RSU Grant
The Company has granted an aggregate of 1,361,106 restricted share units (“RSUs”) in accordance with the Company's equity incentive plan to certain executives of the Company. The vesting conditions of the RSUs are as follows: (i) 50% vesting between one and three years from the date of grant; and (ii) 50% vesting at the end of 3 years based on achievement of 3-year targets.
ABOUT
The Company ensures the quality of its supply chain by cultivating, processing, branding and selling organic certified, sustainably produced, super-premium cannabis products from its state-of-the-art glass roofed facility located in
CONTACT INFORMATION
Chief Executive Officer
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com
The
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’ goal of achieving industry leading profitability 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, the impact on revenue of new products and brands entering the market, and the timing of achieving Adjusted EBITDA profitability and cash flow positive. 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 federal, provincial, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits for construction at its facilities in a timely manner; regulatory or political change such as changes in applicable laws and regulations, including 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; the effect of capital market conditions and other factors on capital availability; the Company’s ability to attract and retain skilled staff; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and the effects of the COVID-19 pandemic. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although
Source:
2024 GlobeNewswire, Inc., source