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Cannabis Summary for Jan. 20, 2020

2020-01-20 20:12 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index fell 2.5 points to 440.06 Monday. Jesse McConnell's Rubicon Organics Inc. (ROMJ) gained 15 cents to $2.52 on 98,400 shares after receiving its first orders from the British Columbia Liquor Distribution Branch (BCLDB) and National Cannabis Distribution (NCD) in Saskatchewan. The orders are for Rubicon's Simply Bare "organic cannabis flower" (organic marijuana). The company expects the products to be available in Saskatchewan and B.C. in "the coming weeks." After that, Rubicon says it will expand into other provinces, but offers no specifics. (The marijuana will be moved through Rubicon's distribution agreement with Agro-Greens Natural Products Ltd. Rubicon ships bulk marijuana to Agro-Greens, which then packages the marijuana into Simply Bare-branded product. This arrangement is necessary because Rubicon has not yet received its sales licence.)

Given that the products are organic, it is not surprising that Rubicon markets the Simply Bare brand as being high quality and terpene-rich (terpenes are organic compounds that give marijuana flavour). The two products that the company has announced are called BC Organic Blue Dream and BC Organic Creek Congo. The BC is for British Columbia, where all the company's products are grown and processed. Rubicon has a 125,000-square-foot operation (about two football fields) in Delta where it expects to grow 11,000 kilograms of marijuana per year at full capacity. Fittingly for a company with "organic" in its name, Rubicon says the Simply Bare brand will only ever be sold in recyclable glass jars. No word how these will fare in the BCLDB's shipping system, which relies on delivery by Canada Post.

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