VANCOUVER, British Columbia, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified premium cannabis, is pleased to announce the publication of its third annual Environmental, Social and Governance Report (“ESG Report”) measuring the year ended December 31, 2022.
Rubicon Organics believes in integrating environmental, social and governance (“ESG”) considerations into our operations and has taken an ESG leadership position in the cannabis sector. The ESG Report captures the period between January 1 and December 31, 2022, and reflects the Company’s determination to formally embed transparency, sustainability and responsible business practices throughout our business focused on the areas of governance, environment, people and community. While our targets are ambitious, we are holding ourselves accountable through measuring and reporting our ESG journey in a transparent manner.
Highlights of the ESG Report:
- Completed the BC Hydro power upgrade to the Delta facility in September 2022, reducing the use of natural gas generators and decreasing our energy usage by 13% and greenhouse gas emissions by 19%.
- Diverted 56% of waste from landfill through recycling and composting.
- Achieved 80% diversity across our employee base.
- Hired locally with 64% of our workforce living within the local community of our Delta facility.
“As a leader in the Canadian cannabis industry, Rubicon Organics is setting the standard for transparency, sustainability and responsible business practices. We have seen significant success in working towards our long-term targets in 2022, in particular the reduction of the resources used in our environmental performance metrics (e.g. energy usage and carbon footprint) and social performance metrics (e.g. local hiring, turnover rate, and diversity),” said Margaret Brodie, Interim Chief Executive Officer and Chief Financial Officer of Rubicon Organics.
Click here to read a copy of the full report.
Board Appointment
Rubicon also announces that Doris Bitz has been appointed to the Company’s Board of Directors (“Board”) after receipt of security clearance from Health Canada. Ms. Bitz was elected to the Board by the shareholders at the Annual General Meeting on September 14, 2023, but her appointment to the Board was subject to being granted security clearance by Health Canada.
About Doris Bitz
Doris Bitz has over 30 years of experience successfully building, scaling and growing manufacturing and CPG businesses in North America. In Doris’ most recent assignment as President, Retail of Dessert Holdings, a leading manufacturer of high-quality dessert products sold through retail and food service customers, Doris was responsible for the vision, strategy and commercial operations that propelled the business from annual revenues of $65 million to nearly $1 billion through organic growth and M&A. Doris has also held executive marketing positions at top-tier CPG companies including PepsiCo Canada and General Mills. Doris holds an HBA and an MBA from the Ivey School of Business at Western University.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. is the global brand leader in premium organic cannabis products. The Company is vertically integrated through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer. Rubicon Organics is focused on achieving industry leading profitability through its premium cannabis flower, product innovation and brand portfolio management, including three flagship brands: its super-premium brand Simply Bare™ Organic, its premium brand 1964 Supply Co™, and its cannabis wellness brand Wildflower™ in addition to the Company’s mainstream brand Homestead Cannabis Supply™ and its premium concentrate brand Lab Theory™.
The Company ensures the quality of its supply chain by cultivating, processing, branding and selling organic certified, sustainably produced, super-premium cannabis products from its state-of-the-art glass roofed facility located in Delta, BC, Canada.
CONTACT INFORMATION
Margaret Brodie
Interim CEO & CFO
Phone: +1 (437) 929-1964
Email: ir@rubiconorganics.com
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, statements regarding Rubicon Organics’ goal 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 word 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 the expected outcome and impact of ESG targets disclosed in the ESG Report. Risks and uncertainties associated with the forward looking information in this press release include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits for construction at its facilities in a timely manner; regulatory or political change such as changes in applicable laws and regulations, including bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Rubicon Organics’ limited operating history and lack of historical profits; reliance on management; the effect of capital market conditions and other factors on capital availability; the Company’s ability to attract and retain skilled staff; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and the effects of 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.
