in

Rubicon Organics Cannabis Co. Granted License To Provide Cannabis For Research Purposes – Rubicon Organics (ROMJF)

Rubicon Organics Cannabis Co. Granted License To Provide Cannabis For Research Purposes

Organic cannabis company Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) confirmed Tuesday that it has obtained a research license from Health Canada, which will enable it to distribute and administer its cannabis for research purposes.

Furthermore, with the new license, the Vancouver, British Columbia-based company can test and review its products based on taste, sight, smell and touch.

“We are all in on cultivating the best cannabis on earth and for the earth,” Jesse McConnell, Rubicon CEO stated. “With the Research License, we can enhance our quality and assurance processes as we continue to deliver on bringing our innovation pipeline of premium flower, hash, vape, and solventless products to the Canadian cannabis market.”

Recent Rubicon Organic Milestones 

Earlier last month, Rubicon Organics issued an $8 million principal amount secured debenture to Green Island Investment Ltd. in relation to a debt financing transaction. The debenture bears an interest rate of 6.5% per year and has a two-year term. In relation to the loan financing, the Vancouver-based company issued 907,000 bonus warrants to the financier.

In June the company revealed it has ensured the sale of its Simply Bare Organic live rosin solventless concentrate product across Ontario and British Columbia. In addition, it has also obtained a purchase order from a Saskatchewan-based distributor for its Pax Era and Pax Era Pro vaporizer pods under the Simply Bare Organic brand. These orders marked the Simply Bare Organic brand’s entry in the Canadian cannabis market across five product categories – dry flower, pre-rolls, concentrates, hash and vaporizer products.

Photo: Courtesy of Esteban Lopez on Unsplash

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.