Rubicon Organics Provides Operational Update

Rubicon Organics Inc. ROMJ ROMJF provided an operational update for the period ending December 31, 2021.

Key Points

• Rubicon Organics expanded its market share to 2.3% in the Canadian all flower and pre-roll product category for the three months ended December 31, 2021
• Simply Bare™ Organic remains the best-selling premium brand in Canadian flower and pre-roll, with a market share of 7.7%
• Strong balance sheet position with over $11.5M in cash available at December 31, 2021
• Premium flower and pre-roll market growth outpaces broader cannabis market, increasing 38% in the fourth quarter of 2021.

Management Commentary

“We are delighted to have ended 2021 with Simply Bare Organic maintaining its position as the number one premium brand in Canada and with Rubicon Organics as a top ten licensed producer. Our conviction in our strategy is also bolstered by the fact that the premium cannabis market is gaining momentum and outpacing the growth of the total market, which should bode very well for the premium product innovations we are bringing to market in 2022 under our complete house of brands,” said Jesse McConnell, CEO.

Rubicon Organics a Top 10 Licensed Producer

The company’s total market share in the flower and pre-roll category increased to 1.9% across Canada for the full year 2021, a significant increase from 1.1% in 2020. Rubicon increased momentum, ending the year with 2.3% market share for the three months ending December 31, 2021.

With these improvements in market share, Rubicon Organics remains among the top ten licensed producers in Canada for all flower and pre-roll product sales.

In the premium segment of the Canadian cannabis market, Rubicon reached 7.7%³ market share in 2021, up from 5.3% in 2020. This ranks the Company as the third highest selling licensed producer in the premium cannabis market. This ranking only includes sales of Simply Bare Organic, making it the best-selling individual brand in combined flower and pre-roll sales across Canada.

The company reported that the premium cannabis flower and pre-roll market in Canada grew 38%⁵ in the fourth quarter of 2021, relative to total market growth of 25%⁵.

Rubicon Organics maintains a strong balance sheet position with over $11.5M in cash available at December 31, 2021.

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