Société québécoise du cannabis (SQDC) placed an order for pre-rolls and dry flower on Rubicon Organics Inc (OTCMKTS:ROMJF).
Rubicon entered an LOU with SQDC on November 24, 2020, for the sale of products like the dry flower as well as pre-rolls under the trademark Simply Bare Brand. The company also sells hash and flower under the 1964 trademark for the population in Quebec.
Meets the commitments of shareholders
CEO of Rubicon, Jesse McConnell said the company met all the commitments to the shareholders, customers, and partners in 2020. It is excited to ensure the availability of its products for the consumers in Quebec last year. The customers can expect high-quality products under Simply Bare Organic and 1964 brands. Rubicon will continue its growth path going forward with its innovative products and brands.
Unveils LAB THEORY Concentrate Brand
Rubicon introduced five innovative products in live resin, caviar, and THCA diamonds formats. It also unveiled a premium concentrate brand – LAB THEORY Concentrate Brand. The customers looking for premium grade products can enjoy terpene-rich and flavorable products.
The customers in British Columbia will embrace the LAB THEORY Concentrates with the receipt of the first order and shipment. Under this brand, the consumers can avail of five products that comprise sour secret strawberry, caviar, caviar sour Cks, Diamonds – Banana OG, Live Resin – Tangie Cks, and Diamonds – PJP #8.
Mobilizes $20 million under bought deal offering
Rubicon signed an accord to mobilize $20 million under the bought deal offering from a syndicate of underwriters such as Desjardins Securities Inc., BMC (BMO Capital Markets), and Raymond James Ltd.
The company appointed Raymond James Ltd as the sole book-runner and a co-lead agent. Under the agreement, the company will issue 5,263,158 units each at $3.80 to underwriters. The offering will close on February 25, 2021.
Rubicon is improving its presence in Canada after the legalization of cannabis in October 2018. The company inked distribution accords in the eastern provinces of Canada. It expects to generate significant returns on executing the stated plan. The company set a 2-year target of $60 million in revenues.
The cannabis industry in Canada is booming and expects to offer excellent ROI for Rubicon going forward.