Rubicon Organics Stock Price, News & Analysis

Rubicon Organics Inc. (OTCQX: ROMJF) has granted 734,600 incentive stock options to directors and officers, priced at $0.86 per share for five years, as part of its Equity Incentive Plan. This option grant replaces some cash compensation to reduce cash expenditures for fiscal 2022. Additionally, amendments are proposed for 765,000 previously awarded options to lower the exercise price from C$3.25 to $0.86, with new vesting dates and an extended expiry date until December 31, 2025. Shareholder approval is required for these amendments.

Pierre Lassonde sold 1,000,000 Common Shares of Rubicon Organics at C$0.77 each on June 20, 2022, totaling C$770,000. Post-sale, Lassonde holds 5,715,413 Common Shares, approximately 10.21% of the total shares, and 284,587 Warrants. This marks a decrease in his ownership from 13.79% as reported on March 2, 2021. The sale was for investment management purposes, and Mr. Lassonde may continue to buy or sell shares based on market conditions and Rubicon's business prospects.

Rubicon Organics (OTCQX: ROMJF) announced a change of auditor from Deloitte LLP to PricewaterhouseCoopers LLP, effective May 20, 2022. The Board of Directors has accepted the resignation of the former auditor without reservations in their audit reports. In addition, the company corrected a clerical error in a previous press release related to stock options, changing the second vesting date from June 30, 2022, to June 30, 2023. Rubicon is known for its premium organic cannabis products and aims for industry-leading profitability through product innovation.

Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) announced amendments to 778,500 incentive stock options, reducing the exercise price to $0.85. This change is part of the Company's equity incentive plan and aims to recognize employee contributions. Additionally, 40,000 incentive stock options were granted to employees, also priced at $0.85 and set to vest between December 2022 and December 2023. The amendments received conditional approval from the TSX Venture Exchange, with a focus on enhancing employee motivation. Rubicon aims to be a leader in organic cannabis products.

Rubicon Organics (ROMJF) reported Q1 2022 results, showcasing a 25% increase in net revenue to $5.2 million compared to Q1 2021. The company holds a 7.1% national market share in premium flower and pre-rolls, ranking #1 with its Simply Bare™ Organic brand. The 1964 Supply Co.™ launched with 141% revenue growth. Rubicon received IMC-G.A.P. Certification, facilitating international sales. CEO Jesse McConnell aims for positive EBITDA in H2 2022, focusing on operational efficiencies and cost management while navigating market challenges.

Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) announced on May 18, 2022, that its Delta Facility has received the IMC-G.A.P. certification from Control Union, allowing for international exports. This certification aligns with World Health Organization and European Medicines Agency guidelines, ensuring compliance for cannabis cultivation and processing. CEO Jesse McConnell emphasized this milestone as crucial for becoming a global leader in premium organic cannabis, enabling exports to Israel, Europe, and Australia.

Rubicon Organics Inc. (TSXV: ROMJ, OTCQX: ROMJF) will report its financial results for the three months ended March 31, 2022, on May 24, 2022. The company is a licensed producer focusing on organic certified cannabis products. A conference call to discuss the results will take place at 7:00 AM PT / 10:00 AM ET on the same day. Interested participants can join via local dial-in or toll-free numbers, or online through a webcast. Rubicon Organics aims to achieve industry-leading profitability through innovative products like Simply Bare™ Organic and 1964 Supply Co™.

Rubicon Organics reported a 43% increase in net revenue, reaching $6.8 million for Q4 2021, marking its first quarter of positive operating cashflows at $0.5 million. The company maintains its position as the #1 premium flower and pre-roll brand in Canada with Simply Bare™ Organic, holding 7.6% of the national market share. Improvements in production efficiency resulted in a $2.2 million increase in gross profit compared to Q4 2020, despite a loss from continuing operations of $1.6 million.

Rubicon Organics (OTCQX: ROMJF) announced a correction regarding the release date of its Q4 2021 financial results, now set for April 18, 2022, after market close. The previously stated date was April 14, 2022. A conference call to discuss these results is scheduled for April 19, 2022, at 7:00 AM PT / 10:00 AM ET. Rubicon Organics specializes in organic cannabis products and aims for industry-leading profitability through innovative branding and product management.