Rubicon Organics Inc (OTCMKTS:ROMJF) Will Sell Dried Cannabis To Canacur GmbH For 3 Years

Rubicon Organics Inc (OTCMKTS:ROMJF) entered a supply pact with Canacur GmbH. As per the terms of the pact, Canacur will procure dried cannabis products from Rubicon for 3-years. They can extend agreement for another 2-years. Rubicon will commence the first shipment in H1 2021.

Advance payment to Rubicon

Canacur will release an advance payment of up to $700,000 to Rubicon, which will use the GMP certification and processing funds in the EU. CEO of Rubicon, Jesse McConnell, said the company is pleased to provide high-quality cannabis products to the patients in Germany. The accord with Canacur provides an opportunity for Rubicon to tap the medical market in Germany.

Inks a supply pact with OCS

Rubicon signed a supply accord with OCS (Ontario Cannabis Store) to distribute and sell SB (Simply Bare) Organic Cannabis to private and provincial cannabis retailers. The company already inked supply pacts with stores in Ontario, Alberta, and British Colombia. It also entered a distribution agreement with Agro-Greens Natural Products Ltd for the sale of its cannabis products in Manitoba and Saskatchewan.

Agro-Greens engage in the sale of Rubicon cannabis products in Ontario and four provinces in Western Canada. Jesse commenting on the development said supply pact with OCS helps the company to serve the largest population in Ontario and boost revenues significantly. The deal is critical for Rubicon to improve presence across the nation.

Supply deal with BCLDB and AGLC

Rubicon entered a supply deal with BCLDB (British Columbia Liquor Distribution Branch) and AGLC (Alberta Gaming, Liquor & Cannabis) for the distribution and sale of Simply Bare Organic Cannabis to the cannabis retailers. The company expects to receive an initial PO next week for the commencement of the cannabis supply.

AGLC will sell cannabis through its online store. It will also regulate private retail cannabis. BCLDB will provide wholesale distribution services and retail of non-medical cannabis to the general public in British Colombia.

Conditional listing on the TSXV

Rubicon obtained a nod for a conditional listing of its 3.15 million warrants and common shares on TSXV (TSX Venture Exchange). The company needs to fulfill certain TSX-V requirements for this listing.