Rubicon Organics Announces Appointment of Glen Ibbott as Interim CFO

VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV:ROMJ) (OTCQX:ROMJF) ("Rubicon Organics" or the "Company"), a licensed producer focused on cultivating and selling organic certified and premium cannabis products, today announced the appointment of Glen Ibbott, a cannabis industry veteran and former Chief Financial Officer of Aurora Cannabis Inc. (TSX:ACB, NASDAQ:ACB) as its Interim Chief Financial Officer.

Janis Risbin, current CFO, will be stepping away from her full-time role effective today. She will remain in an advisory role over the next few months to ensure a smooth transition of responsibilities to Mr. Ibbott.

"Glen's leadership at Aurora Cannabis helped to build one of the largest cannabis companies in Canada. His expertise comes at an important time for Rubicon Organics as we scale new capacity and explore new markets for our industry leading premium cannabis brands. His strategic insight and financial leadership will be instrumental as we navigate our next phase of growth and innovation," said Margaret Brodie, CEO.

Ms. Brodie continued, "On behalf of our Board of Directors, and the entire Rubicon Organics team, I would like to offer our sincere thanks and appreciation to Janis. Since 2019, Janis has dedicated immeasurable time and energy to Rubicon; and we have been fortunate to have her expertise over the years as we navigated this emerging industry. We wish her all the best for her future endeavours."

Mr. Ibbott commented, "It's an exciting time to join Rubicon Organics. The leading premium cannabis products with more demand than supply, new capacity coming on this year, and certifications in place for international expansion. I believe Rubicon has been a hidden gem in the financial markets that is now ready to shine with the best of the industry."

Glen Ibbott is a seasoned financial executive with over 25 years of leadership experience in publicly-traded life sciences and cannabis companies. He is best known in the industry for his tenure as CFO at Aurora Cannabis from 2017 to 2024, where he played a pivotal role in the company's rapid growth, international expansion, and delivery of recurring EBITDA and cash flow. Prior to Aurora, Mr. Ibbott held senior finance roles at several prominent healthcare and pharmaceutical companies, including QLT Inc., where he was instrumental in its $500 million merger with Aegerion Pharmaceuticals. He began his career at KPMG and holds dual CPA designations in Canada and the U.S., as well as MBAs from Cornell University and Queen's University. His strategic acumen and deep industry knowledge make him a valuable asset in guiding companies through complex financial landscapes.

We will be initiating a comprehensive search process to identify a permanent CFO. This process will include both internal and external candidates and will be guided by our commitment to finding a leader with deep financial expertise, a strong understanding of the cannabis industry, and a vision aligned with our long-term strategic goals.

ABOUT RUBICON ORGANICS

Rubicon Organics Inc. is a global brand leader in premium organic cannabis products. The Company is vertically integrated through its wholly owned subsidiary Rubicon Holdings Corp, a licensed producer. Rubicon Organics is focused on achieving industry leading profitability through its premium cannabis flower, product innovation and brand portfolio management, including three flagship brands: its super-premium brand Simply Bare™ Organic, its premium brand 1964 Supply Co™, and its cannabis wellness brand Wildflower™ in addition to the Company's mainstream brand Homestead Cannabis Supply™.

The Company ensures the quality of its supply chain by cultivating, processing, branding and selling organic certified, sustainably produced, super-premium cannabis products from its state-of-the-art glass roofed facility located in Delta, BC, Canada.

CONTACT INFORMATION

Rubicon Organics Inc.

Margaret Brodie, CEO

Phone: +1 (437) 929-1964

Email: [email protected]

505-744 West Hastings Street

Vancouver, BC V6C 1A5

The TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this press release.

Cautionary Statement Regarding Forward Looking Information

This press release contains forward-looking information within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding Rubicon Organics' goal of achieving industry leading profitability are "forward-looking statements". Forward-looking information can be identified by the use of words such as "will" or variations of such word or statements that certain actions, events or results "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. The forward-looking information in this press release is based on certain assumptions that management considers reasonable under the circumstances. These statements are based on current expectations, estimates, and projections about the Company's business and the industry in which it operates. Risks and uncertainties associated with the forward-looking information in this press release include, among others, risks related to the recently completed Offering, including that the Company does not use the proceeds from the Offering as anticipated, risks related to regulatory approvals, changes in market conditions, competition, supply chain disruptions, the Company's ability to maintain certification standards, and the successful implementation of its business strategy. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although Rubicon Organics has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Rubicon Organics assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.