Ms. Margaret Brodie reports

RUBICON ORGANICS ANNOUNCES $3 MILLION STRATEGIC PRIVATE PLACEMENT TO EXPAND PACIFICA CULTIVATION CAPACITY

Rubicon Organics Inc. has closed a non-brokered private placement with a strategic investor, Siwash Rock Investments, Inc., for 6,666,667 common shares of the company at a price of 45 cents per share for aggregate gross proceeds of approximately $3.0-million.

• Lighting upgrade expected to increase Pacifica annual production to 15,500 kilograms, an increase of 40 per cent over stated capacity, bringing total company capacity to 20,000 kg;
• Investment leverages existing infrastructure to increase supply, lower per-unit costs and improve gross margin;
• Accomplished entrepreneur and investor Ted Reid brings growth company expertise alongside strategic capital.

Rubicon intends to use the net proceeds from the private placement to upgrade cultivation lighting and related greenhouse infrastructure at its Pacifica facility, with the balance of the net proceeds allocated to general working capital. The Lighting project is expected to increase the Pacifica facility's annual production to 15,500 kg of high-quality cannabis. Together with Rubicon's Cascadia facility, annualized capacity is expected to reach 20,000 kg of premium-quality cannabis by June, 2027, grown in GACP-certified facilities, moving this target forward from a previous estimate by approximately one year.

"Demand for Rubicon's premium-quality cannabis in Canada and international markets has consistently exceeded our supply capacity. This investment allows us to expand total output from our existing assets by 29 per cent, serve more unmet demand, lower per-unit costs and improve gross margin," said Margaret Brodie, chief executive officer of Rubicon. "We are also pleased to welcome Ted Reid to the Rubicon story. Ted brings a strong record of building and scaling companies and creating shareholder value, and his capital and expertise will help accelerate Rubicon's next stage of expansion."

Ted Reid, CEO of Siwash Rock Investments Inc., said: "Rubicon is at an important inflection point. I am pleased to support the company's growth plan and contribute my experience as Rubicon's team works to drive revenue growth and profitability."

No finders' fees or commissions were paid in connection with the private placement. The shares issued under the private placement are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. The private placement remains subject to receipt of applicable regulatory approvals, including final acceptance by the TSX Venture Exchange.

About Rubicon Organics Inc.

Rubicon Organics is a Canadian leader in certified organic and premium cannabis, with a portfolio of trusted brands including Simply Bare Organics, 1964 Supply Co., Wildflower and Homestead Cannabis Supply.

The company operates the 125,000-square-foot Pacifica hybrid greenhouse in Delta, B.C., and the 47,500-square-foot Cascadia indoor facility in Hope, B.C., with current annual production capacity of approximately 15,500 kilograms of premium cannabis, expanding to 20,000 kilograms by mid 2027. Rubicon's proprietary genetics, award-winning products and international certifications support its growth in Canada and regulated international markets.

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