Latest news with #RubiconOrganics
Business Insider
03-06-2025
- Business
- Business Insider
Rubicon Organics (ROMJF) Gets a Buy from Zuanic and Associates
Rubicon Organics (ROMJF – Research Report) received a Buy rating and price target from Zuanic and Associates analyst Pablo Zuanic today. Confident Investing Starts Here: According to TipRanks, Zuanic is ranked #5336 out of 9553 analysts. Currently, the analyst consensus on Rubicon Organics is a Moderate Buy with an average price target of $0.80. The company has a one-year high of $0.42 and a one-year low of $0.21. Currently, Rubicon Organics has an average volume of 33.68K. Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ROMJF in relation to earlier this year.
Yahoo
29-05-2025
- Business
- Yahoo
Rubicon Organics Inc (ROMJF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth and ...
Net Revenue: $12.4 million, a 39% increase year over year. Adjusted EBITDA: $700,000, marking a $1.1 million improvement compared to the same period in 2024. Gross Profit: $3.8 million, a 72% improvement from Q1 of 2024. Gross Margin: Improved to 31%, up from 25% in the same quarter last year. Cash Position: Ended the quarter with $7.8 million in cash. Working Capital: $20.6 million. Credit Facilities: $10 million secured at an interest rate of 6.75%. Facility Acquisition: Agreement to acquire a new facility in Hope BC, expanding production capacity by over 40% to 15,500 kgs. Resin Vape Line: Expanded to 8 SKUs, capturing nearly 15% of the segment. Revenue Growth Drivers: Strong performance across Canada's four largest provinces and product innovation in the 1964 brand. Warning! GuruFocus has detected 1 Warning Sign with ROMJF. Release Date: May 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Rubicon Organics Inc (ROMJF) reported a 39% increase in net revenue year-over-year, reaching $12.4 million in Q1 2025. The company achieved a positive adjusted EBITDA of $700,000, marking a $1.1 million improvement compared to the same period in 2024. Rubicon Organics Inc (ROMJF) received GACP certification for its Delta Facility, enabling its first international shipment to Poland. The acquisition of a new facility in Hope, BC, is expected to expand annual production capacity by over 40% to 15,500 kgs. The company's resin vape line captured nearly 15% of the segment, showing strong market acceptance and growth potential. The company experienced some share loss in the topical category due to competitors entering with lower-priced SKUs. Rubicon Organics Inc (ROMJF) anticipates significant startup operational expenses for the Hope Facility in 2025, with revenue not expected until 2026. There is a noted volatility in the capital markets, which could impact future financial strategies and growth plans. The company faces challenges in maintaining premium pricing amidst competition from lower-cost legacy markets. Gross margins showed fluctuations, with a slight decrease from Q4 2024, highlighting potential cost management challenges. Q: Can you provide more details on the 2,000 kilograms of contract-grown biomass expected this year? Is this incremental compared to last year? A: Yes, the 2,000 kilograms is entirely incremental. We did have some contract growth last year, but this is additional to that. (Margaret Brodie, CEO) Q: Once the Hope facility is operational, will you continue with contract grows, or will Hope replace them? A: We plan to continue with contract grows. We have long-term contracts with annual pricing discussions, and being a reliable partner is valuable in this market. (Margaret Brodie, CEO) Q: When do you anticipate receiving the license to start planting at the Hope facility? A: We expect to receive the license by the end of the summer, possibly by mid-July. We aim to have at least one harvest this year. (Margaret Brodie, CEO) Q: How should we think about gross margins on an annual basis, given quarterly fluctuations? A: Our production costs remain relatively flat annually. We aim for a gross margin around 35%, supported by pre-roll automation benefits. (Margaret Brodie, CEO) Q: Can you comment on the state of the premium cannabis segment and any impact of deflation on revenue growth? A: The premium segment remains stable, with some price increases since Q4 '24. We haven't experienced deflation impacting our revenue growth, as our genetics and brand strength continue to drive consumer demand. (Margaret Brodie, CEO) Q: What is your strategy for selling the new capacity from the Hope facility? A: We have strong unmet demand for larger format products and consistent high-quality products for international markets. We are confident in selling all of the new capacity. (Margaret Brodie, CEO) Q: Are you planning to expand beyond live resin vapes in your product offerings? A: Currently, we are focused on FSC resin and all-in-one vapes. We are not pursuing distillate products at this stage, as we see it as a race to the bottom on price. (Margaret Brodie, CEO) Q: What are the supply-demand dynamics in international markets, particularly for premium products? A: There is a short-term parity in mainstream supply, but premium supply remains limited. We expect demand to outpace supply as new markets develop. (Margaret Brodie, CEO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
28-05-2025
- Business
- Hamilton Spectator
Rubicon Organics Reports Q1 2025 Financial and Operating Results
VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) ('Rubicon Organics' or the 'Company') is Canada's leading premium licensed producer focused on cultivating and selling organic certified, premium and super-premium cannabis products, today reported its financial results for the three months ended March 31, 2025 ('Q1 2025'). All amounts are expressed in Canadian dollars. 'We're proud to deliver another strong quarter of revenue growth and profitability. Rubicon is cementing its leadership in premium organic cannabis through innovation, disciplined execution, and brand trust,' said Margaret Brodie, CEO. 'With the removal of conditions for the purchase of the Hope Facility and the successful completion of our $4.5 million private placement, we are well-positioned for long-term growth, both in Canada and internationally. Our strategic priorities remain focused on disciplined growth, operational efficiency, and product innovation.' 'With 39% year-over-year revenue growth and positive Adjusted EBITDA, Q1 2025 highlights the strength of our operating model and financial discipline,' said Glen Ibbott, Interim CFO. 'Our strong first quarter results, along with a robust balance sheet, and our recent capital raise, provide the foundation to support our expansion while maintaining financial flexibility.' Q1 2025 and Subsequent Highlights: Who We Are Rubicon Organics is a Canadian leader in premium, certified organic 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 focus on premium quality, innovation, and operational execution has driven consistent growth, with Q1 2025 revenue up 39% year-over-year and positive Adjusted EBITDA for the fourth consecutive quarter and for eight of the last nine quarters. The Company's production base is anchored by its fully licensed Delta Facility, expected to be complemented by the planned acquisition of the Hope 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 rationalizes and global demand for high-quality cannabis increases, Rubicon's disciplined execution, brand equity, and consumer loyalty set it apart. The company is well-capitalized following a recent $4.5M financing and is on track for continued revenue and Adjusted EBITDA expansion. Rubicon Organics represents a rare combination of category leadership, operational strength, and long-term growth potential. Where We Are Going: 2025 Outlook Securing Additional Premium Quality Supply With growing demand for Canadian cannabis from the domestic and international markets, we see that controlling access to premium quality supply is critical to continue to grow our brands and gross revenue. Our Delta Facility is fully operational and has annual production capacity of 11,000 kg. We are continuously evaluating ways to improve both our yield and quality at the Delta Facility and are in the trial stage of evaluating additional lighting at site. In order to increase our supply of premium flower, we are acquiring the Hope Facility to significantly expand our annual production capacity, adding an annual production capacity of 4,500 kg, representing more than a 40% increase compared with our current annual production capacity from the Delta Facility, bringing total annual production capacity to 15,500 kg of premium cannabis. On May 21, 2025, we announced the removal of all conditions precedent related to the purchase and sale agreement for the Hope Facility. This acquisition is expected to close in Q2 2025. Pending licensing timing expected sometime in the summer, we expect to be running at full capacity by the end of the year. While we plan to outlay just over $3 million in operating startup costs during 2025, we do not expect revenue contribution until 2026. Our 2024 net revenue growth was driven through strategic partnerships with co-manufacturers and contract growers and these arrangements are expected to provide up to 2,000 kgs of incremental biomass to our business in 2025. We plan to continue to collaborate with our trusted partners and explore additional partnerships as we strive to meet the growing demand for our high-quality premium products. Building Trust with our Customers in Canada We are committed to the growing Canadian cannabis market and to being a trusted partner for our customers—including provincial distributors, retailers, and consumers. As the Canadian customers face increasing competition from international demand, we have seen many mainstream and premium licensed producers shifting their sales abroad. We see this as a prime opportunity to further strengthen our brand presence in Canada. With SKU rationalization underway across several provinces, suppliers are being evaluated on reliability and sales performance. This shift is raising the bar for market entry, making it increasingly challenging for new brands and products to secure shelf space. At the same time, Canadian consumers are becoming more brand-loyal, prioritizing trust and value in their purchasing decisions. We believe our award-winning brands and diverse product portfolio will continue to resonate with them. Looking ahead, we anticipate a continued highly competitive retail landscape. However, Rubicon's strong brand recognition, consumer loyalty, high supplier ratings, and strategic positioning provide a solid foundation for long-term success in Canada. Genetics We possess unique intellectual property in cannabis genetics, which we consider a critical asset in maintaining our position as a leading innovator within the industry. Our extensive genetics library is central to our strategy of delivering consistent, high-quality genetics and new product offerings for the premium and super-premium markets. We view this as a significant competitive advantage and plan to launch exciting new genetics throughout 2025. To date, we have launched BC Organic Pink Drip and BC Organic Sunset Runtz under the Simply Bare brand. International Our strong reputation in Canada has attracted an increasing number of inquiries from international medical cannabis buyers. The international cannabis market has experienced significant growth in recent years, with continued expansion anticipated. While the market is still in the early stages of adopting premium cannabis products, we aim to meet small amounts of the international demand with a test and learn strategy in 2025 making sure to meet our Canadian customer needs as a priority. The Company holds the necessary certifications for international exports and made its inaugural international test shipment in the first quarter of 2025. Financial Growth For 2025, we are forecasting growth in both net revenue and Adjusted EBITDA, excluding acquisition-related and start up operational costs associated with the Hope Facility (the 'Hope Costs'), driven by our ongoing expansion and strategic initiatives. While we anticipate strong underlying performance in 2025, we expect the Hope Costs will impact our reported financial results. Despite the potential short-term impact of the Hope Costs on profitability, we are confident that our continued growth in net revenue and improved like-for-like Adjusted EBITDA will position us for long-term success and value creation. 2025 Results of Operations: Conference Call The Company will be hosting a conference call to discuss Q1 2025 results on Wednesday, May 28, 2025. Conference call details are as follows: CONTACT INFORMATION Margaret Brodie CEO Phone: +1 (437) 929-1964 Email: ir@ The TSX Venture Exchange or 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. Non-GAAP Financial Measures This press release contains certain financial performance measures that are not recognized or defined under IFRS ('Non-GAAP Measures') including, but not limited to, 'Adjusted EBITDA'. As a result, this data may not be comparable to data presented by other companies. The Company believes that these Non-GAAP Measures are useful indicators of operating performance and are specifically used by management to assess the financial and operational performance of the Company as well as its liquidity. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. For more information, please refer to the 'Selected Financial Information' section in the MD&A for the year ended December 31, 2024, which is available on SEDAR+ at . Adjusted EBITDA Below is the Company's quantitative reconciliation of Adjusted EBITDA calculated as earnings (losses) from operations before interest, tax, depreciation and amortization, share-based compensation expense, and fair value changes. The following table presents the Company's reconciliation of Adjusted EBITDA to the most comparable IFRS financial measure for the three months ended March 31, 2025, March 31, 2024, and December 31, 2024. 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 impact on revenue of new products and brands entering the market, and the timing of achieve Adjusted EBITDA1 profitability and cashflow positive. 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; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and those factors identified under the heading 'Risk Factors' in Rubicon Organic's annual information form dated April 1, 2025 filed with Canadian provincial securities regulatory authorities. 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. We have made numerous assumptions about the forward-looking statements and information contained herein, including among other things, assumptions about: optimizing yield, achieving revenue growth, increasing gross profit, operating cashflow and Adjusted EBITDA1 profitability. Even though the management of Rubicon Organics believes that the assumptions made, and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Investors are cautioned against undue reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near and longer term prospects and may not be appropriate for other purposes. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, changes in assumptions, new information or for any other reason except as required by law. 1 Adjusted EBITDA is a non-GAAP measure that is calculated as earnings (losses) from operations before interest, tax, depreciation and amortization, share-based compensation expense, and fair value changes. See Selected Financial Information for details on the Adjusted EBITDA calculation. 2 All retail data is sourced from Hifyre as at March 31, 2025 for current year and as at March 31, 2024 for prior year
Yahoo
22-05-2025
- Business
- Yahoo
Rubicon Organics Clears Conditions for Hope Facility Acquisition, Advancing Growth Strategy
VANCOUVER, British Columbia, May 22, 2025 (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 products, is pleased to announce the removal of all conditions precedent, related to its previously announced purchase and sale agreement (the 'PSA') with Medipharm Labs Inc. for an operational, purpose-built 47,500 square foot indoor cultivation facility in Hope, British Columbia (the 'Hope Facility'). This milestone clears the path for Rubicon Organics to finalize the acquisition of the Hope Facility, which is expected to significantly expand the Company's premium production capacity and support its growth strategy. 'Our acquisition of the Hope Facility marks a pivotal step forward, for Rubicon Organics,' said Margaret Brodie, Chief Executive Officer of Rubicon Organics. 'The Hope Facility enhances our ability to meet growing demand for our premium brands, accelerate innovation, and drive long-term value for shareholders.' The Company expects to close the acquisition of the Hope Facility in the second quarter and will provide further updates as they become available. About the Hope Facility The Hope Facility spans 47,500 square feet of purpose-built indoor capacity and is equipped with advanced cultivation technology, supporting Rubicon Organics' strategy to expand its premium product offerings and increasing supply to meet rising demand. The Company estimates annual production capacity of the Hope Facility to be up to 4,500 kgs and expects Rubicon Organics' first harvests by the end of 2025, with revenue realized in early 2026. The Company will provide further updates on the transaction and production timelines in the coming months. 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™. 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 BrodieCEOPhone: +1 (437) 929-1964Email: ir@ The TSX Venture Exchange or 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' expectation of finalizing the Hope Facility acquisition; of bolstering growth, market leadership, and new innovation from the acquisition of the Hope Facility, and 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, including the Company's acquisition of the Hope Facility, the Hope Facility strengthening the Company's premium production capacity, growing demand of the Company's leading brand portfolio, the acceleration of the Company's growth beyond its existing footprint, the intended use of the Hope Facility, the ability of the Company to successfully complete the acquisition of the Hope Facility and the expected timing of completion of the acquisition of the Hope Facility. These assumptions include securing necessary financing, the impact of the Hope Facility on the Company's business, completing due diligence, obtaining required regulatory approvals such as licensing, and fulfilling other customary closing conditions. 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 in to access your portfolio
Yahoo
16-05-2025
- Business
- Yahoo
Rubicon Organics Announces Appointment of Glen Ibbott as Interim CFO
VANCOUVER, British Columbia, May 15, 2025 (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 products, today announced the appointment of Glen Ibbott, a cannabis industry veteran and former Chief Financial Officer of Aurora Cannabis Inc. (TSX: ACB, Nasdaq: ACB) as its Interim Chief Financial Officer. Janis Risbin, current CFO, will be stepping away from her full-time role effective today. She will remain in an advisory role over the next few months to ensure a smooth transition of responsibilities to Mr. Ibbott. 'Glen's leadership at Aurora Cannabis helped to build one of the largest cannabis companies in Canada. His expertise comes at an important time for Rubicon Organics as we scale new capacity and explore new markets for our industry leading premium cannabis brands. His strategic insight and financial leadership will be instrumental as we navigate our next phase of growth and innovation,' said Margaret Brodie, CEO. Ms. Brodie continued, "On behalf of our Board of Directors, and the entire Rubicon Organics team, I would like to offer our sincere thanks and appreciation to Janis. Since 2019, Janis has dedicated immeasurable time and energy to Rubicon; and we have been fortunate to have her expertise over the years as we navigated this emerging industry. We wish her all the best for her future endeavours." Mr. Ibbott commented, 'It's an exciting time to join Rubicon Organics. The leading premium cannabis products with more demand than supply, new capacity coming on this year, and certifications in place for international expansion. I believe Rubicon has been a hidden gem in the financial markets that is now ready to shine with the best of the industry.' Glen Ibbott is a seasoned financial executive with over 25 years of leadership experience in publicly-traded life sciences and cannabis companies. He is best known in the industry for his tenure as CFO at Aurora Cannabis from 2017 to 2024, where he played a pivotal role in the company's rapid growth, international expansion, and delivery of recurring EBITDA and cash flow. Prior to Aurora, Mr. Ibbott held senior finance roles at several prominent healthcare and pharmaceutical companies, including QLT Inc., where he was instrumental in its $500 million merger with Aegerion Pharmaceuticals. He began his career at KPMG and holds dual CPA designations in Canada and the U.S., as well as MBAs from Cornell University and Queen's University. His strategic acumen and deep industry knowledge make him a valuable asset in guiding companies through complex financial landscapes. We will be initiating a comprehensive search process to identify a permanent CFO. This process will include both internal and external candidates and will be guided by our commitment to finding a leader with deep financial expertise, a strong understanding of the cannabis industry, and a vision aligned with our long-term strategic goals. ABOUT RUBICON ORGANICS Rubicon Organics Inc. is a 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™. 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 Rubicon Organics Brodie, CEOPhone: +1 (437) 929-1964Email: ir@ West Hastings StreetVancouver, BC V6C 1A5 The TSX Venture Exchange or 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. 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 the recently completed Offering, including that the Company does not use the proceeds from the Offering as anticipated, 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.
