Rubicon Organics Stock Price, News & Analysis

Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) held its Annual General and Special Meeting on December 13, 2022, with 76.38% of shares represented. Shareholders approved key resolutions, including the election of five directors and the appointment of PricewaterhouseCoopers LLP as auditors. Jesse McConnell announced his resignation as CEO effective December 31, 2022, with Margaret Brodie stepping in as Interim CEO. The Board is actively seeking new independent directors. Rubicon aims to maintain its position as a leader in premium organic cannabis.

Rubicon Organics (OTCQX: ROMJF) reported a record Q3 2022, achieving net revenue of CAD 10.5 million, marking a 49% year-over-year growth. The company also recorded its first positive net income of CAD 2.0 million and a positive Adjusted EBITDA of CAD 1.9 million. Rubicon's operating cash flow was CAD 1.4 million with a Free Cash Flow of CAD 0.4 million. The company holds an 8.0% market share in the premium cannabis segment. Rubicon reconfirmed its guidance for positive Adjusted EBITDA and operating cash flow for H2 2022 amidst growing consumer demand for its organic cannabis products.

Rubicon Organics (TSXV: ROMJ, OTCQX: ROMJF) will hold its Annual General and Special Meeting on December 13, 2022, at 10:00 AM PT at the Terminal City Club in Vancouver. Key agenda items include receiving audited financial statements for the year ended December 31, 2021, electing directors, appointing auditors, and amending stock options. Shareholders can access detailed information and attend via a live webcast. The record date for participation is November 1, 2022, with all relevant materials available on SEDAR.

Rubicon Organics (TSXV: ROMJ) (OTCQX: ROMJF) announced the resignation of Board Chair Julie Lassonde effective October 31, 2022. Lassonde joined the Board as a Director in January 2022 following health security clearance and had been serving as Chair since May 2022. The leadership team expressed gratitude for her contributions over her tenure.

Rubicon Organics is a leader in premium organic cannabis and is focused on achieving industry-leading profitability through its products, including the Simply Bare™ Organic brand.

Rubicon Organics Inc. (OTCQX: ROMJF) announced that it will report its financial results for Q3 2022 on November 14, 2022. A conference call is scheduled for November 15, 2022, at 7:00 AM PT / 10:00 AM ET to discuss these results. Rubicon Organics focuses on cultivating and selling premium organic cannabis products and operates from a state-of-the-art facility in Delta, BC. The company aims for industry-leading profitability with its innovative product line, including the flagship Simply Bare™ Organic brand.

Rubicon Organics (OTCQX: ROMJF) updates its operational performance as of August 31, 2022, reaffirming financial guidance for positive Adjusted EBITDA in fiscal 2022. The company completed a significant power upgrade at its Delta Facility, reducing operating costs and aligning with Environmental, Social, and Governance goals. Rubicon holds an 8.6% national market share in premium cannabis, with its flagship brand, Simply Bare™ Organic, ranked #1. The company is actively searching for a new CEO to further its vision of global leadership.

Rubicon Organics (OTCQX: ROMJF) announces the resignation of CEO Jesse McConnell, effective December 31, 2022. McConnell, co-founder of the company, led Rubicon to become an industry leader in premium organic cannabis, achieving profitability and a robust brand portfolio. The Board of Directors has begun the search for a successor to maintain the company's vision as a leader in the organic cannabis sector. During the transition, CFO Margaret Brodie will act as a liaison to ensure continuity. The company also postponed its Annual General and Special Meeting.

Rubicon Organics Inc. (ROMJF) reported strong Q2 2022 results with $8.8 million in net revenue, a 92% increase from Q2 2021. The company achieved Adjusted EBITDA of $0.3 million, marking its first quarter of profitability. Market share grew to 2.7% for flower and pre-rolls, and 8.6% for premium products. The company aims for international sales in late 2022 or early 2023. Production facility yield capacity has hit 10,000 kg. Management increased guidance for FY 2022, expecting continued positive cash flow.