Rubicon Organics Announces the Results of the Annual General and Special Meeting, Appoints Chair & Grants DSUs
A total of 31,130,021 shares were represented in person or by proxy at the Meeting, constituting approximately 46.3% shares represented of the Company's total issued and outstanding Common shares as of the record date, and voted in favour of all matters brought before the Meeting.
Results of Annual General and Special Meeting
The following matters put forward before shareholders for consideration and approval as set out in Rubicon Organics' management information circular dated June 27th, 2025 (the 'Circular') were approved by the shareholders:
A corporate presentation presented at the Meeting is available for viewing on Rubicon Organics' website at
www.rubiconorganics.com
.
Change to Board Chair
The Company also today announced that Len Boggio will step down as Chair of the Board, effective immediately. He will transition to the role of Chair of the Nomination and Governance Committee.
The Board has unanimously appointed Doris Bitz, currently serving as independent director since 2023, as the incoming Chair. She brings over 30 years of experience successfully building, scaling and growing manufacturing and CPG businesses in North America. In 2022 she retired from her role as President, Retail of Dessert Holdings, a leading manufacturer of high-quality dessert products, and now serves on multiple boards. 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.
'On behalf of the organization, I want to thank Len Boggio for his leadership as Board Chair over the last 2 years in particular his exemplary leadership and commitment to strong corporate governance, and I'm pleased that he will continue to share his extensive governance experience in his role as Chair of the Nomination and Governance Committee,' said Margaret Brodie, Chief Executive Officer. 'I want to welcome Doris Bitz as our new Board Chair. Doris has unique experience in building and scaling businesses and thus is very well-positioned to help elevate our team as we transform and scale in our next phase of growth.'
'I'm honored to step into the role of Chair,' said Doris Bitz. 'I look forward to working closely with the leadership team and Board to scale Rubicon Organics to achieve our vision to be the most trusted, premium global leader in cannabis, building long-term value for shareholders.'
Omnibus Equity Incentive Plan
The Board of Directors (the 'Board') approved the amendment to the Omnibus Equity Incentive Plan on June 27th, 2025, subject to receipt of shareholder approval at the Meeting. The amended Omnibus Equity Incentive Plan will be administered by the Company's Board, and will permit the grant or issue of Restricted Share Units ('RSU's'), Performance Share Units ('PSU's'), Deferred Share Units ('DSU's'), and options ('Options') to eligible participants.
The amended Omnibus Equity Incentive Plan is a fixed plan which provides that the aggregate maximum number of Common Shares that may be issued upon the exercise or settlement of awards granted under the amended Omnibus Equity Incentive Plan is 8,960,180 Common Shares. As set out in the Circular, the Omnibus Equity Incentive Plan replaced the Company's legacy equity incentive plan and legacy DSU plan, and as such, no further grants of stock awards or DSUs will be made under the legacy equity incentive plan or legacy DSU plan.
DSU Grant
The Company has granted an aggregate of 1,024,576 DSUs pursuant to the Omnibus Equity Incentive Plan to certain independent directors of the Company as compensation for their services in advance for the following 12 months. The DSUs will vest twelve months from the date of grant, and may only be redeemed upon a holder ceasing to be a director of the Company, or as allowed for under the terms of the Omnibus Equity Incentive Plan.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics is the Canadian leader in certified organic and premium cannabis. With a vertically integrated model and strong national distribution, the company is scaling a house of trusted, high-performing brands including Simply Bare™ Organics, 1964 Supply Co.™, Wildflower™, and Homestead Cannabis Supply™.
The Company's production base is anchored by its Delta, BC Facility, and is now complemented by the acquisition of our Hope, BC Facility, which will expand production capacity by over 40% and support future growth in both domestic and export markets. With proprietary genetics, award-winning products, and certifications enabling international distribution, Rubicon is positioned at the forefront of the premium cannabis segment.
As the Canadian market continues to rationalize and global demand for high-quality cannabis increases, Rubicon's disciplined execution, brand equity, and consumer loyalty set it apart. The Company's focus on premium quality, innovation, and operational execution has driven consistent revenue growth and positive Adjusted EBITDA.
Rubicon Organics represents a rare combination of category leadership, operational strength, and long-term growth potential.
CONTACT INFORMATION
Margaret Brodie
Chief Executive Officer
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 on certain assumptions that management considers reasonable under the circumstances, the Company's ability to execute its business strategy, demand for its products in international markets, and other factors beyond the Company's control. These statements are based on current expectations, estimates, and projections about the Company's business and the industry in which it operates. Risks and uncertainties associated with the forward-looking information in this press release include, among others, risks related to regulatory approvals, changes in market conditions, competition, supply chain disruptions, the Company's ability to maintain certification standards, and the successful implementation of its business strategy. 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.
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.
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