VANCOUVER, British Columbia, Nov. 30, 2022 — 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 the publication of its second annual Environmental, Social and Governance Report measuring the year ended December 31, 2021 (“ESG Report”).
Rubicon Organics has taken an ESG leadership position in the cannabis sector, being the first cannabis company to issue a report. The ESG Report captures the period between January 1 and December 31, 2021 and reflects the Company’s determination to formally embed sustainability throughout our operations and supply chain. 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:
- Diverted 53% of waste from landfill through recycling and composting.
- Achieved 77% diversity across our employee base.
- Hired locally with 43% of our workforce living within the local community of our Delta facility.
- Continued to work with BC Hydro on the power upgrade to connect the Delta facility to the power grid, eliminating the need for natural gas generators (completed in Q3 2022).
“I am proud of our achievements in 2021 and know there is still much more for us to do. ESG is a journey and as we significantly ramped up our business operations in 2021, we have seen an increase in our use of resources as to be expected. By tracking our results, we continue to hold ourselves accountable as we strive to become the global brand leader in premium organic cannabis products,” said Margaret Brodie, Chief Financial Officer of Rubicon Organics.
Click here to read a copy of the full report.
Grant of Incentive Stock Options
The Company has granted an aggregate of 145,000 incentive stock options to employees and a consultant of the Company pursuant to the Company’s Equity Incentive Plan and Deferred Share Unit Plan (together the “Equity Plans”). The stock options are exercisable at $0.85 per share for a period of five years. The vesting schedule of the stock options are as follows: (i) 120,000 with one-third vesting annually over three years from the date of grant; and (ii) 25,000 with 50% vesting immediately upon grant and 50% vesting one year from the date of grant.
Grant of Deferred Share Unit (“DSUs”)
The Company has granted an aggregate of 150,000 DSUs in accordance with the Equity Plans to independent directors of the Company as compensation for their services. The DSUs vest immediately and may only be redeemed upon a holder ceasing to be a director of Rubicon Organics.
Grant of Restricted Share Units (“RSUs”)
The Company has granted an aggregate of 110,000 RSUs in accordance with the Equity Plans to an employee and a former director of the Company as compensation for their services. The vesting conditions of the RSUs are as follows: (i) 60,000 vesting in tranches based on 12-month EBITDA targets; and (ii) 50,000 vesting immediately upon grant.
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 its flagship super-premium brand Simply Bare™ Organic, its premium flower and hash brand 1964 Supply Co.™, its premium concentrate brand Lab Theory™, and its mainstream brand Homestead Cannabis Supply™ and its topical brand Wildflower™.
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.