Rubicon Organics Signs Agreement with German Distributor

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VANCOUVER, British Columbia, June 22, 2020 (GLOBE NEWSWIRE) -PRESS
RELEASE-
Rubicon Organics Inc. is announced June 22 that it has signed a
product supply agreement with Canacur GmbH, a medical cannabis distributor
incorporated in Nuremberg, Germany.Pursuant to the agreement, Canacur shall
purchase dried cannabis from Rubicon for an initial term of three years, with
two optional two-year extensions available. Rubicon expects its first exports to
be made in the first half of 2021, pending European Union and good
manufacturing practices certification.

“We
are excited to bring our high-quality cannabis to German medical patients,”
stated Jesse McConnell, CEO of Rubicon Organics. “This milestone agreement with
Canacur provides another route to market and access to the fast-growing German
medical market.”

As
part of the agreement, Canacur has agreed to provide Rubicon up to $700,000 as
advance payment for product, which will be secured behind existing secured
lenders on the company’s facility in Delta, British Columbia. This advance
payment assists Rubicon to prepare for EU-GMP processing and certification

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Source: One

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