Rubicon Organics' Products Now Available On Canada's Medical Cannabis By Shoppers Online Platform

Cannabis producer Rubicon Organics Inc. ROMJ ROMJF has inked a cannabis products supplier agreement with Medical Cannabis by Shoppers Drug Mart Inc.

Under the deal, the Vancouver, British Columbia-based company agreed to provide Canadian consumers with Simply Bare Organic hash, as well as Wildflower CBD Relief Sticks and Wildflower CBD Cool Sticks in both 30g and 73g product formats, via the online medical cannabis platform.

“Rubicon Organics has made great strides in consistently increasing its distribution across Canada, and this supply agreement significantly advances the presence of our portfolio of brands in the Canadian medical cannabis channel,” Jesse McConnell, Rubicon's CEO and founder, said Monday. “We have a deep product innovation portfolio that is equally applicable to the medical and recreational cannabis markets, and we expect to solidify our leadership position in the Canadian premium and organic cannabis segments as we roll out our innovation across the country in the coming months.”

In June, Rubicon secured the sale in Ontario and British Columbia for its Simply Bare Organic live rosin solventless concentrate product, marking the brand’s entry into the Canadian cannabis market across five product categories – dry flower, pre-rolls, concentrates, hash and vaporizer products.

McConnell recently disclosed that the company’s share of the premium cannabis segment in Canada remained strong during the second quarter of 2021.

”With 44 SKUs across five brands, we can focus on meeting the rising demand from provincial distributors, which is beginning to reflect both a return to normalized buying patterns and our new SKUs in high growth product categories,” McConnell added.

In its latest earnings report, Rubicon revealed a year-over-year and sequential increase in revenue of CA$3.6 million ($2,84 million) and CA$0.5 million, respectively, bringing it to CA$4.6 million in the quarter ended June 30.

Price Action

Rubicon Organics’ shares traded 3.82% lower at $1.8514 per share after market close on Friday.

Photo: Courtesy of CRYSTALWEED cannabis on Unsplash