| Source: Rubicon Organics Rubicon Organics
Vancouver, British Columbia, CANADA
VANCOUVER, British Columbia, May 18, 2022 (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, today announced that its’ Delta Facility has received its CUMCS Equivalency IMC-G.A.P. certification (the “Certification”), the leading certification standard for medical cannabis cultivation, harvest, and primary processing.
Through the IMC-G.A.P. certification process, CU has declared that Rubicon Organics’ dried cannabis products are compliant in accordance with the World Health Organization’s (“WHO”) guidelines on Good Agricultural Practices (“GACP”) Medicinal Plants, the European Medicines Agency’s (“EMEA”), Guideline on GACP for Herbal Medical Products, and the Israeli Medical Cannabis GACP.
Obtaining the Certification provides documented evidence that Rubicon Organics has met IMC-G.A.P.’s, WHO’s and EMEA’s strict standards for quality and consistency in the cultivation, harvest and primary processing of cannabis needed for export of cannabis inputs to certain jurisdictions, including Israel, Europe and Australia, for further processing into finished good via a GMP certified production facility.
“Rubicon Organics has achieved an important milestone for international export with the Certification as it allows Rubicon to export our products internationally and is a key step in delivering on our vision to be the global brand leader in premium organic cannabis,” said Jesse McConnell, Chief Executive Officer.
ABOUT RUBICON ORGANICS INC.
Rubicon Organics Inc. is the 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 a focus on differentiated product innovation and brand portfolio management, including its flagship super-premium umbrella brand Simply BareTM Organic, its premium flower and hash brand 1964 Supply CoTM, its premium concentrate brand LAB THEORYTM, and its mainstream brand Homestead Cannabis SupplyTM. 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.
ABOUT CONTROL UNION CANADA INC.
Control Union Canada Inc.is a member of the Peterson Control Union Group which has operations in 85+ countries. The group has more than 6 thousand employees that have audited commodities of all types for over 100 years. Peterson Control Union boasts many of the largest corporations in the world as their customers. They have significant history supporting and auditing commodities certifications and process standards for biofuels, sugar, palm oil, soy, and many other commodities. See https://www.petersoncontrolunion.com/en for references.
Chief Financial Officer
Phone: +1 (437) 929-1964
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 upon certain assumptions that management considers reasonable in the circumstances, including the impact on revenue of new products and brands entering the market, and the timing of achieve Adjusted EBITDA profitability and cash flow positive. Risks and uncertainties associated with the forward looking information in this press release include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits for construction at its facilities in a timely manner; regulatory or political change such as changes in applicable laws and regulations, including bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Rubicon Organics’ limited operating history and lack of historical profits; reliance on management; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers; and the effects of the COVID-19 pandemic. 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.
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On Monday, the Fortuna City Council heard a presentation on Humboldt County’s climate action plan, discussed a waste disposal ordinance and covered the state of the Fortuna Business Improvement District.
The council heard a presentation on the plan, which is still in the very early phases, from Michael Richardson, a planner at the county’s Planning and Building Department.
“One of the benefits here that we’re shooting for is if we have a climate action plan that’s adopted by all the jurisdictions and we can make a good case that it meets the state’s targets, then the project review for new development becomes a lot easier,” Richardson said.
The state target is to reduce emission rates to 40% below 1990 levels by 2030.
Richardson noted that the project is now able to move into the environmental impact report creation phase, though every public commenter and several members of the council expressed concern with aspects of the climate action plan.
“These regulations and this climate action plan has the potential to hit contractors, farmers, ranchers, and middle class Americans, the working poor because all those people are going to be told that your vehicle is no longer good,” said Councilmember Mike Johnson. “It doesn’t meet the test. And that’s what gets me more than anything is the effect that it’s going to have on the public. I agree with the goals, I agree that there are things that we need to do, but we need to think through them.”
Several public commenters were also concerned with the data used in the plan, which did not include 2020 emission data, and called for the most up-to-date emission information to be used in the plan.
The full presentation of the plan the council received can be found on the council’s agenda at bit.ly/3LrJQKr.
The council also discussed ongoing issues regarding the Fortuna Business Improvement District, noting that in a recent special meeting, which was requested by the district but not attended by any members, the council went over several potential outcomes regarding the district. The discussions revolved around the results of disbanding the board, reverting it into an advisory body and not a nonprofit, or to continue as it currently exists.
City Manager Merritt Perry said that no action was taken, and that he expects this item to come up during the next city council meeting. He also noted that the council has received little public comment on this matter, and would like to hear from business owners regarding how they feel about the Fortuna Business Improvement District.
The Fortuna City Council accepted the first reading of an ordinance mandating organic waste disposal reduction regulations to implement and enforce Senate Bill 1383, the state law which requires local municipalities to start organic waste collection.
The ordinance would delay implementation until at least Jan. 1, 2023, but by 2025 aims to see a 75% reduction in landfill organic waste and a 20% increase in recovery of edible food.
“That’ll happen through modification of our franchise agreement, establishing food waste, edible food recovery programs, conducting education and outreach into the community and how they best can recover or recycle these organic wastes,” Perry said.
Fortuna, along with every other Humboldt County municipality in coordination with the county government, is attempting to abide by Senate Bill 1383 through a variety of measures.
Jackson Guilfoil can be reached at 707-441-0506.
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New Zealand organic apple grower, Bostock, continues to supply apples to Russia. This is upsetting other growers, who have ceased exports in response to president Putin’s decision to invade Ukraine. The owner of the multi-million dollar Hawke’s Bay operation, John Bostock, confirmed the company is shipping containers of apples to Russia. However, according to Bostock, the move is under review. Bostock and his company’s marketing and communications manager, Catherine Wedd, refused to answer further questions.
According to industry sources, Bostock’s move has caused enormous frustration among other growers and exporters who have stopped trading with Russia after its invasion of Ukraine. It is not illegal to send food products to Russia under the new sanctions regime but many companies, including apple exporters, have pulled out at a substantial cost to their business.
Parliament passed the Russia Sanctions Bill in mid-March, which includes 35 percent tariffs on all Russian imports, a ban on the export of industrial products such as ICT equipment and engines, as well as asset freezes and travel bans on individuals linked to Putin, and bans on financial dealings with Russia.
At that time, pome fruit industry group New Zealand Apple and Pears Inc sent a memo to members pointing out that it was not illegal to send apples to Russia, but warning them there were greater risks with shipping and payment due to the international sanctions.
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Today marks the second anniversary of EEX’s product launch for the Japanese Power Derivatives market. Since launch in May 2020, EEX’s Japan Power product suite, which includes power futures for the regions Tokyo and Kansai, is now firmly established as the benchmark contract in Japanese power trading, backed by the continuous support from the local trading community and international market participants.
Since launch on 18 May 2020, a total of 8.8 TWh was traded in EEX Japanese Power Futures until end of April with EEX holding a market share of 87% in cleared power derivatives volume in its first full year of trading (2021). In the first months of 2022, EEX confirmed this leading position: While the monthy-average-volume amounted to 280 GWh in the first year (May’20 – Apr’21), the monthly-average-volume increased to 455 GWh in the second year (May’21 – Apr’22).
Steffen Koehler, COO of EEX, comments on the second EEX Japan anniversary: “While the first year was all about building the market together with our clients, we’ve now entered a phase of sustainable growth. It’s very encouraging to see that more and more players from the Japanese utility sector increasingly use our products which clearly benefits market liquidity in this still young market. This success is due to the efforts of all partners and stakeholders involved who work with us on the common goal of establishing a well-functioning market, supporting market participants to mititate and hedge their risk for Japanese power. I would like to thank all our partners and clients – EEX is looking forward to the next level of market development together with you.”
Today, 40 companies from Japan and around the world are actively trading the EEX Japan Power Futures contracts which is double the number of participants compared to May 2021. In particular, the number of domestic utility players increased significantly, with major Japanese players, such as JERA, Marubeni Power or Hokkaido Electric joining the EEX market in spring 2022. This significant increase in active participants and the large diversification of trading companies (domestic vs international, physical vs. financial, generation vs. retail) are the foundation for further growth of the EEX Japanese Power Futures in the months and years ahead.
Japan is the first Asian market area on the EEX Power Derivatives platform which comprises 20 market areas in Europe. With its trading venues for power, EPEX SPOT for short-term contracts, EEX for derivatives trading in Europe and Japan and Nodal Exchange for US power derivatives, EEX Group is the number one exchange group in power trading worldwide with 7,406 TWh traded in 2021.
The European Energy Exchange (EEX) is the leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, it offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State. More information: www.eex.com
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The U.S. Air Force is to move to using Lockheed Martin [LMT] F-35As for organic adversary air training for its fighter pilots at Nellis AFB, Nev., after the service declined to renew a contract with Florida-based Draken International for such training.
Draken has won several ADAIR training contracts, including one worth up to $280 million in 2018. The company typically refurbishes aircraft, such as Dassault Aviation Mirage F1s, and provides ADAIR training with retired military pilots.
ADAIR companies “do wonderful work for the Air Force, especially at our formal training units, our FTUs, where we train…how to fly,” Air Force Lt. Gen. David Nahom, the service’s deputy chief of staff for plans and programs, told a Senate Armed Services Committee hearing in response to a question from Sen. Jacky Rosen (D-Nev.) on the non-renewal of the ADAIR contract at Nellis.
“What we’re finding now, though, is these contracts aren’t very effective at Nellis in that high-end training environment,” Nahom said. “What they provide is not giving us what we need. What we’re using is not only our Red Air professionals in the 64th Aggressors Squadron at Nellis. We also augment that regularly with F-35s [and] other aircraft that regularly play Red Air.”
“Adversary air is something we have to be attuned to, especially as we get to fifth-generation” he said. “The interesting thing is five/six years ago, we wouldn’t be talking about F-35s being adversary air because our adversaries didn’t fly fifth-generation airplanes. Well, the Chinese do now [with the J20]. As the China threat has stepped up, we have to step up our replication, and what the contractor is providing there at Nellis for that high-end training we only get at the NTTR (the Nellis Test and Training Range) and at the JPARC (Joint Pacific Alaska Range Complex) in Alaska is not meeting what we need.”
During the Red Flag 21-3 exercise at Nellis last August, pilots from the 64th Aggressor Squadron flew F-35As as dedicated adversary air training planes for the first time. The 64th previously had had Lockheed Martin F-16s.
The Air Force has also been preparing to re-establish the 65th Aggressor Squadron and equip the latter with F-35As to help provide training to Air Force flight crews on the aerial combat tactics of potential adversaries (Defense Daily, Jan. 5). The service de-activated the 65th Aggressor Squadron in 2014.
In May, 2019, the Air Force announced it would reactivate the 65th Aggressor Squadron with 11 F-35As moving to Nellis–nine from Eglin AFB, Fla., and two from Edwards AFB, Calif.
Nellis is also to receive F-22s from Tyndall AFB, Fla., for aggressor training.
The Air Force last year said it wants to add 17 F-35As and three Lockheed Martin F-22s to support the 65th Aggressor Squadron at Nellis.
“The Air Force’s current adversary air program includes a mix of F-16 Aggressors, T-38A/Bs, units’ own aircraft used for training, and air support contracts,” according to Military Air Support: DoD Has Increased Its Use of Contracts to Meet Training Requirements, per a Government Accountability Office (GAO) report for the House Armed Services Committee last December.
“According to an Air Force contracting official, air support contracts are used as a bridge until the Air Force adversary air program develops greater military capabilities to conduct training,” the GAO study said. “The Air Force’s plan shows that the use of air support contracts for adversary air training are expected to phase out in 2030 as the Air Force implements other training options with enhanced capabilities. Specifically, the Air Force plan states that it will replace air support contracts that provide adversary air capacity and bolster existing training capabilities through several lines of effort, including by reactivating formal aggressor squadrons. In addition, the Air Force is exploring options to acquire new manned and unmanned adversary air platforms in the future.”
Both the Air Force and the U.S. Navy have said that live adversary training has been and will be a priority, and both services want to co-develop a future advanced jet trainer at an affordable cost per flying hour to replicate some high-end threats, GAO said.
In October, 2019, the Air Force awarded adversary air and close air support training for Joint Terminal Attack Controllers (JTAC) contracts potentially worth $6.4 billion to Air USA, Inc.; Airborne Tactical Advantage Company (ATAC), LLC., a subsidiary of Textron [TXT]; Blue Air Training, LLC; Coastal Defense Inc.; Draken International; Tactical Air Support, Inc.; and Top Aces Corp. (Defense Daily, Oct. 21, 2019).
Bridgepointe Technologies‘ newly appointed chief strategy officer will drive organic growth for the company as it harnesses capitalizes on its investment from Charlesbank Capital Partners.
Scott Kinka, who worked with channel partners for a decade and a half in his job at Evolve IP, has joined Bridgepointe. He will oversee several areas of internal expansion including “product and technology training, partner systems and tools, marketing and lead generation, cross penetration of value-added services.” He’ll be tapping into the $100-plus million Charlesbank investment that Bridgepointe announced in January.
Bridgepointe’s Scott Kinka
“We don’t just want to put capital to work in M&A,” Kinka said. “We’re putting capital to work in the business strategically and organically. And that’s really where my focus is: organic growth.”
Kinka helped found Evolve IP in 2007. He served for a number of years as chief technology officer and later as chief strategy and innovation officer. The job brought him into contact with Bridgepointe employees and partners. He also got to know Carol Beering, formerly of Intelisys, who recently joined Bridgepointe.
Kinka’s tenure with Evolve IP gave him experience in the private equity world. Great Hill Partners made a majority investment in the cloud services company in 2016. Kinka said has vendor acquired 10 companies following that investment and doubled in size.
Kinka retired in February and remains a strategic adviser for the company. In the meantime, he watched with interest as firms like Bridgepointe received the attention of outside investment.
“After spending nearly two decades educating and selling through the channel, I’ve always thought that an eventual move to the channel side could be interesting,” Kinka told Channel Futures.
Kinka said Bridgepointe’s business model attracted him to the company. He described it as a hybrid model. On one hand, Bridgepointe transacts as a technology solutions brokerage (TSB), leveraging direct supplier contracts and enabling sales partners, which it calls “IT strategists.”
However, Bridgepointe’s leaders stay away from the term TSB.
“I hesitate to call the others that are in this space competitors, because of the differences in terms of how we operate,” Kinka said.
For example, Bridgepointe conducts relationships with certain TSB partners for certain suppliers. Moreover, its IT strategists typically leverage the Bridgepointe brand – “branded feet on the street,” as Kinka describes it. Thus, Bridgepointe to some extent functions as a direct seller.
“Most of our partners carry a Bridgepointe card,” Kinka said. “I spent more than a decade as the front man in the market for a brand. So I think that and the ability to leverage Bridgepointe’s unique operating model and build thought leadership around our business as an IT consultancy are what were really interesting to me.”
And Kinka said Bridgepointe’s tight-knit relationship with its partners makes an attractive value-proposition.
“Because these are card-carrying, largely exclusive partners, our average revenue per account and cross penetration of products is beyond that of the standard TSB,” he said. “And that’s not a knock on the TSBs who cater to all kinds of partners. Out partners are just very focused on mid-market and enterprise business consultancy.”
He said the business model makes an attractive landing point for enterprise technology sales reps who are looking to make a career change. Certain salespeople don’t want to return to the office or have grown as much as they can at their vendor employer, Kinka said. Bridgepointe could emerge as an solid alternative, he said.
Bridgepointe’s Scott Evars
“We want to be the home for the individual contributor who’s looking to make that career change. And we’re uniquely positioned to make that easy. We have a unique lifecycle finance offering for new partners from startup bridge loans through investment and ultimately Partner (with a capital P) status with the firm.”
Kinka said Bridgepointe recently surveyed its IT strategists about what they need to grow. He said they overwhelming viewed automated marketing resources and systems as their top priority.
“We’re expecting to release a new portal towards the end of the quarter that will have a whole bunch of new capabilities in it, but our big push is going to be around giving the partner what they’ve told us they want the most, which is air cover in the form of content and systems that will help them market and identify opportunities,” he said.
Kinka said he will focus heavily on promoting the company’s brand. For example, he will function as Bridgepointe’s evangelist at industry events and online.
“For us, marketing doesn’t mean advertising,” he said. “It means acting like the consultancy that we are by providing unbiased technology content to help drive technology decisions.”
Bridgepointe co-founder Scott Evars praised Kinka’s abilities.
“Scott brings a wide range of skills and talent to Bridgepointe that is critical to ensuring our success as we rapidly grow. He’s a strong cultural fit and a natural leader who will play a key strategic role in helping us to triple in size,” Evars said.
Last month Bridgepointe announced the appointment of Carol Beering as vice president of integration. The role gives her responsibility for ensuring that partners Bridgepointe acquires experience a seamless transition. Bridgepointe has already used the Charlesbank funding to acquire multiple agencies and hand partners equity status.
Kinka will also play a role in integrating those companies.
“It’s one thing to grow your business in a grassroots way. But it’s another thing to grow your business at scale with external investment. It’s easy to buy companies, but not so easy to integrate them, make stakeholders happy and help them to grow organically,” Kinka said.
Kinka joins a list of high-profile executives from the vendor side who have moved to a private equity backed TSB or agency recently. Curt Allen and Eric Brooker recently joined Columbia Capital-backed Bluewave Technology Solutions, and Upstack has made several notable hires.
When asked if competition is shaping up between any of these private equity-backed players, Kinka pointed to the rising tide of the channel. He said he’s cheering for entire industry to succeed.
“We’re not competing against each other. We’re competing against the 75% of decisions that are still made outside of this channel,” he said.
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