- Rubicon Organics to fill organic cannabis oil pods for the PAX® ERA™ and PAX® ERA Pro™ premium vaporizers
- Expected launch across Canada in H1 2021
VANCOUVER, British Columbia, Oct. 06, 2020 (GLOBE NEWSWIRE) — Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified and premium cannabis, is pleased to announce that it has entered into a distribution agreement with PAX Labs, Inc., a leader in premium cannabis vaporization technology.
Under the agreement, Rubicon Organics expects to launch pods for the closed-loop PAX ERA system under its Simply Bare™ Organics brand, filled with extracts formulated with its organic cannabis cultivated in Delta, BC.
PAX pods are expected to be available for distribution in the first half of 2021. The agreement represents the Company’s second partnership for the distribution of cannabis 2.0 products following the agreement with Wildflower Brands Inc. to manufacture and distribute Wildflower CBD Relief Stick and CBD Cool Sticks.
“This agreement matches the highest quality organic cannabis products and the highest quality vaporizer devices for Canadian consumers. Our organic cannabis delivers a very rich terpene profile through our proprietary cultivation techniques for the discerning cannabis consumer,” said Jesse McConnell, Chief Executive Officer. “We look forward to partnering with PAX, as their devices are proven best-in-class and have been developed to maximize the user experience.”
“Our innovation pipeline is building momentum,” said Tim Roberts, President. “This exciting partnership with PAX, enables us to accelerate our premium 2.0 product range into vape products. We expect to also leverage this technology partnership with our new brands and rare new strains that we expect to launch into the Canadian market in the near term.”
“We are thrilled to be bringing Rubicon Organics’ premium, organic certified and sustainably produced cannabis to our PAX customers,” said Tim Pellerin, General Manager Canada and International, PAX Labs. “Both brands share an ethos of quality and craftmanship, and we look forward to delivering a highly personalized, terpene-rich experience to discerning cannabis consumers across Canada early next year.”
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. is becoming the global brand leader in organic cannabis products. Through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer, the Company cultivates and sells organic certified, sustainably grown, super-premium cannabis from its state-of-the-art hybrid greenhouse located in Delta, BC, Canada. Rubicon Organics is focused on achieving industry leading profitability through the development of brands and cannabis 2.0 products, including its flagship super-premium brand Simply Bare™ Organic.
Chief Financial Officer
Phone: +1 (437) 929-1964
The TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this press release.
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 regarding the expected launch of the PAX pods in Canada, the expectation to launch new brands and products in the near-term, 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; Rubicon Organics’ limited operating history and lack of historical profits; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the Company’s ability to obtain financing at reasonable terms though the sale of equity and/or debt commitments; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; that our current relationships with our suppliers, service providers and other third parties will be maintained; and the impact of the current global health crisis caused by the COVID-19 pandemic. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Although Rubicon Organics has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80260b16-7116-4eee-969d-3b85d9789ac5