Rubicon Organics Announces the Appointment of Chief Executive Officer and Chief Financial Officer, and Grants RSUs

VANCOUVER, British Columbia, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon Organics” or the “Company”), a licensed producer focused on cultivating and selling organic certified, premium cannabis, is pleased to announce the appointment of Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) and grants restricted share units (“RSUs”).

Appointment of Chief Executive Officer

The board of directors of the Company (the “Board”) is pleased to announce the appointment of Margaret Brodie as the Chief Executive Officer of the Company, effective immediately. Since January 1, 2023, Ms. Brodie has acted as the Interim CEO and CFO. This appointment comes after the Board completed a search and evaluation of both internal and external candidates to lead the Company.

“We are delighted to appoint Margaret as our CEO. Margaret has been the CFO of Rubicon since our inception and she also served as our interim CEO over the past year. She has distinguished herself as a very capable and respected leader with a deep understanding of the regulated Canadian cannabis sector. We are confident that her strategic skills will play a pivotal role in the continued success of Rubicon. As we persist in our pursuit of growth and unwavering dedication to delivering top-tier cannabis products, Margaret's guidance, along with the incredible team she has helped to build, will undoubtedly be a cornerstone of our journey,” expressed Len Boggio, Board Chair.

“Rubicon Organics is taking its position as a Canadian leader in premium and organic cannabis and I am proud to take on the role as the CEO. As I transition from the role of CFO to helm the company's strategic direction, I am energized by the tremendous opportunities that lie before us in 2024 and beyond. I am committed to leading our talented team towards continued innovation, sustained growth, and the realization of our collective vision for success. Together, we will embark on an exciting journey as we navigate the next phase of Rubicon’s evolution,” said Margaret Brodie, CEO.

About Margaret Brodie

Margaret Brodie has been instrumental in building Rubicon Organics since it was founded in 2015. She began her tenure as the CFO of the Company and was appointed Interim CEO on January 1, 2023. As Interim CEO and CFO, Ms. Brodie led the Company to achieving six consecutive quarters of AEBITDA profitability and five consecutive quarters of positive operating cashflow. Under her leadership in 2023 Rubicon was awarded the prestigious KIND Awards of “Cannabis Company of the Year” and “People’s Choice Best Weed,” and produced two of the top three most popular brands as recommended by Canadian Budtenders in a third-party evaluation. She has over 20 years of experience in finance and executive leadership, of which 10 were spent with KMPG working in the UK and Canada for global beverage and global mining companies. Ms. Brodie has also held numerous corporate development and CFO roles for listed companies.