- 132% increase in the number of new products available from provincial distributors in Q3, 2021
- Simply BareTM Organic top organic brand in all major provinces and maintains leadership in premium category
- Premium brand 1964
Supply Co. TM has now been accepted in seven provinces - Mainstream brand HomesteadTM has been accepted by five provincial distributors
“We are now fully armed with a deep product portfolio that follows through on our good, better, best brand strategy and we are in an excellent position to capitalize on expected restocking orders, particularly as retailers in
Market Update
Notwithstanding limitations place on most retailers in the first half of 2021, many data points indicate that the Canadian cannabis market continues to grow at a high pace and re-stocking at new locations remains a significant opportunity in the coming months. For example, the latest data from
The Company believes that with retail locations increasing to approximately 879 as of
The Company is also pleased to announce a market share update for its flagship Simply BareTM Organic super-premium brand for the first half of 20212. Highlights by major province include:
Ontario : #1 organic brand in flower and pre-roll, and #5 premium brand in flower and pre-roll- BC: #1 brand in both the organic and premium flower and pre-roll categories
Quebec : #1 organic brand in flower and pre-roll, #1 brand in premium hash, and #3 brand in premium flower and pre-rollAlberta : #1 organic brand in flower and pre-roll, and #6 premium brand in flower and pre-roll
Corporate and Operational Highlights
Corporate and operational highlights in the first half of 2021 include:
- Closed a bought deal offering of 6,052,631 units for aggregate gross proceeds of
$23.0 million ; - Issued
US$8 million in debt on a two-year term at 6.5% interest per annum paid semi-annually; - Entered into an agreement with The
Valens Company (TSX:VLNS) for organic certified extraction services; - Launched Wildflower CBD Topicals;
- Announced a Cannabis Purchase and Sale Agreement with Cannabis Yukon for the distribution of its portfolio of cannabis products to consumers in
Yukon territory; - Received its first direct purchase order from
Manitoba Liquor & Lotteries ; - Received its first purchase order from Cannabis NB, New Brunswick’s provincial cannabis distributor and retailer; and
- Published the Company’s inaugural Environmental, Social and Governance Report, which can be accessed here.
Brand Update
Simply BareTM Organic
10 new SKUs of Simply BareTM Organic have been launched in 2021, as follows: BC Organic Sour CKS, SFV OG Kush and Apple TFE hash products; BC Organic Blue Dream and Sour Cookies in a 7g flower format; BC Organic Platinum Punch in 3.5g flower and 3x0.5g Pre-rolls; 0.5g Pax Pods were introduced in BC Organic Sour CKS and Blue Dream strains; and 1g Live Rosin was launched in
1964 Supply Co.™
The Company’s 1964
In 2021, eight SKUs have been launched under this brand including: Blue Dream/Bleu Nuit and Sour Secret Strawberry/Fraise Sûre in flower formats and Pre-rolls; Apple Toffee and Congo in flower formats; and Bleu Nuit and Congo hash products.
Homestead™
Rubicon Organics’ HomesteadTM brand has now been accepted for listing in
ABOUT
CONTACT INFORMATION
Chief Financial 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, and statements such as the Company’s belief that it is becoming the global brand leader in organic cannabis products, and the Company’s intention 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 words 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 forward looking information in this press release include, among others, information or statements concerning the Company’s expectations of financial resources available to fund operations;
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1 Household final consumption expenditure, quarterly,
2 Source: Market share information was obtained from industry data sources including the Ontario Cannabis Stores and
Source:
2021 GlobeNewswire, Inc., source