Australia markets open in 9 hours 39 minutes
  • ALL ORDS

    7,317.50
    +36.90 (+0.51%)
     
  • AUD/USD

    0.7756
    +0.0032 (+0.42%)
     
  • ASX 200

    7,058.60
    +35.50 (+0.51%)
     
  • OIL

    63.19
    +0.04 (+0.06%)
     
  • GOLD

    1,761.60
    +25.30 (+1.46%)
     
  • BTC-AUD

    81,209.77
    -2,526.60 (-3.02%)
     
  • CMC Crypto 200

    1,378.92
    -2.03 (-0.15%)
     

Press Release for Early Warning Report Regarding Rubicon Organics Inc.

Jesse McConnell
·3-min read

VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Jesse McConnell, of 505-744 West Hastings Street, Vancouver, BC, V6C 1A5, today announced that on February 26, 2021, he acquired ownership of 2,346 units (“Units”) of Rubicon Organics Inc. (“Rubicon”), a company with a head office at 505-744 West Hastings Street, Vancouver, BC, V6C 1A5, at a purchase price of C$3.80 per Unit for an aggregate purchase price of C$8,914.80. Each Unit consists of one common share of Rubicon (a “Common Share”) and one-half of one Common Share purchase warrant (each whole such Common Share purchase warrant, a “Warrant”). Each Warrant acquired under the Offering (as defined below) entitles the holder to purchase one Common Share at a price of C$5.30 per Common Share for a period of 36 months from the closing date of the Offering. Mr. McConnell acquired ownership through a bought deal public offering (the “Offering”) previously announced by Rubicon on February 18, 2021 and February 26, 2021.

As of June 1, 2020, the date of Mr. McConnell’s previously filed Early Warning Report, Mr. McConnell owned, directly or indirectly, or exercised control or direction over 10,988,265 Common Shares, 710,000 stock options (“Options”) each entitling the holder to purchase one Common Share, and 749,552 Warrants. The 10,988,265 Common Shares represented approximately 24.48% of the total number of issued and outstanding Common Shares prior to the Offering. If all of his Options and Warrants were exercised, Mr. McConnell would have owned, directly or indirectly, or exercised control or direction over, approximately 26.86% of the total number of issued and outstanding Common Shares on a partially diluted basis prior to the Offering.

After the completion of the Offering, Mr. McConnell now owns, directly or indirectly, or exercises control or direction over, 11,662,168 Common Shares, 310,000 Options, and 650,725 Warrants. The 11,662,168 Common Shares represent approximately 21.02% of the total number of issued and outstanding Common Shares, resulting in a 3.46% change to Mr. McConnell’s Common Share holdings. If all of his Options and Warrants were exercised, Mr. McConnell would own, directly or indirectly, or exercise control or direction over, approximately 22.37% of the total number of issued and outstanding Common Shares, resulting in a 4.49% change to Mr. McConnell’s Common Share holdings on a partially diluted basis after the completion of the Offering.

Mr. McConnell’s acquisition was made for investment purposes. In accordance with applicable securities laws, Mr. McConnell may, from time to time and at any time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Rubicon in the open market or otherwise, and reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Rubicon and other relevant factors.

For more information, or to obtain a copy of the subject early warning report, please contact:

Margaret Brodie
Chief Financial Officer
Phone: 1-437-929-1964
Email: ir@rubiconorganics.com