Rubicon Organics Launches 11 New Products, Releases Second Annual ESG Report

Rubicon Organics Inc. ROMJF ROMJ launched eleven new products in Quebec under the Simply Bare Organic and 1964 Supply Co. brands. This doubles the number of items available in the province, adding to Rubicon Organics' presence in Quebec.

Rubicon Organics has added two new offerings under the Simply Bare Organic brand in Quebec:

• BC Organic Duct Tape available in 3.5g format is the first Duct Tape cultivar in the legal market in Canada. This cultivar is a cross of two strains - Original Glue and Do-Si-Dos with aromas of gas, pine and chocolate.

• The Sélections 3x0.5g pre-rolls are an extension of the Sélections line currently in 28g format in the province. This pre-rolled offering features a rotation of certified organic cultivars, hand-rolled in hemp paper. The 3x0.5g Selections cultivar will change every two months, starting with the popular BC White Rntz Organic.

In addition, three of the brand's online exclusives are now available in stores across Quebec: BC Organic Bubba Pink 3.5g dried flowers and 3x0.5g pre-rolled, and BC Organic Lime Mi'jito 3.5g dried flower.

Rubicon Organics secured six new store listings for the 1964 Supply Co. brand.

• 1964 Supply Co. Bleu Nuit 5x0.5g Pre-Rolls are now available in all stores after a successful online presence. This is the first pre-roll for 1964 Supply Co. available in stores in Quebec.

• Following the strong performance of 1964 Supply Co. 3.5g Lebanese Hash, Rubicon Organics has introduced its Flower + Lebanese Hash 1x1g Infused Pre-roll in stores.

• Sour Cookies 3.5g from 1964 Supply Co. was introduced in stores as of September 2022.

• Two of the new listings will be under 1964 Supply Co. Secret Menu. The Secret Menu 3.5g and 5x0.5g Pre-Rolls feature rotational cultivars from outside of the core 1964 Supply Co. portfolio.

• In addition to the Secret Menu rotational SKUs, 1964 Supply Co. has launched BC Buds 28g as a rotating product in stores in the Quebec market. This 28g product features a rotating selection of base cultivars from 1964 Supply Co. that were previously unavailable in Quebec.

Second Annual ESG Report

The environmental, social and governance report captures the period between January 1 and December 31, 2021 and reflects the company’s determination to formally embed sustainability throughout its operations and supply chain.

Highlights of the ESG Report:

1. Diverted 53% of waste from landfill through recycling and composting.

2. Achieved 77% diversity across the company’s employee base.

3. Hired locally with 43% of the company’s workforce living within the local community of its Delta facility.

4. Continued to work with BC Hydro on the power upgrade to connect the Delta facility to the power grid, eliminating the need for natural gas generators (completed in Q3 2022).

Equity Awards

Grant of Incentive Stock Options

The company has granted an aggregate of 145,000 incentive stock options to employees and a consultant of the company pursuant to the company’s equity incentive plan and deferred share unit plan. The stock options are exercisable at $0.85 per share for a period of five years. The vesting schedule of the stock options are as follows: 120,000 with one-third vesting annually over three years from the date of grant and 25,000 with 50% vesting immediately upon grant and 50% vesting one year from the date of grant.

Grant of Deferred Share Unit

The company has granted an aggregate of 150,000 DSUs in accordance with the equity plans to independent directors of the company as compensation for their services. The DSUs vest immediately and may only be redeemed upon a holder ceasing to be a director of Rubicon Organics.

Grant of Restricted Share Units

The company has granted an aggregate of 110,000 RSUs in accordance with the equity plans to an employee and a former director of the company as compensation for their services. The vesting conditions of the RSUs are as follows: 60,000 vesting in tranches based on 12-month EBITDA targets and 50,000 vesting immediately upon grant.

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Photo by Richard T on Unsplash

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