Ms. Margaret Brodie reports

RUBICON ORGANICS ANNOUNCES THE RESULTS OF ANNUAL GENERAL MEETING

Rubicon Organics Inc. has released the voting results from its annual general meeting of shareholders, held on Sept. 14, 2023.

A total of 40,649,434 shares were represented in person or by proxy at the meeting, constituting approximately 72 per cent of the company's total issued and outstanding common shares as of the record date.

Results of annual general meeting

The following matters put forward before shareholders for consideration and approval as set out in Rubicon Organics' management information circular dated Aug. 9, 2023, were approved by shareholders:

• Setting the number of directors of the company at eight;
• Electing Margaret Brodie, John Pigott, David Donnan, Michael Detlefsen, Karen Proud, Len Boggio, Ian Gordon and Doris Bitz (1) as directors of the company for the ensuing year until the next annual meeting of the company;
• Appointing PricewaterhouseCoopers LLP as the company's auditor for the ensuing year with the company's directors authorized to fix its remuneration.

An updated corporate presentation presented at the meeting is available for viewing on Rubicon Organics' website.

Appointment of board of directors members and chair

The board of directors is pleased to announce the appointment of Len Boggio to chair of the board of directors.

"The company stands on a solid foundation poised for success, even in the face of the current challenging market conditions in the Canadian cannabis industry. Rubicon Organics is well positioned to capitalize on our sustained growth, leveraging our diverse portfolio of brands and driven by our formidable team," said Mr. Boggio.

About the independent directors

Mr. Boggio

Mr. Boggio is a fellow chartered professional accountant (FCPA) with significant experience as an auditor, adviser and independent director of public companies. During his 30 years at PwC in Vancouver and the United Kingdom, he served clients in Canadian and multinational enterprises listed on stock exchanges in Canada, the United States, the United Kingdom, Europe and Australia. Since his retirement from PwC in 2012, he has served as an independent director of several public and private companies, Crown corporations, and agencies. He has served as the chair of the Canadian Institute of Chartered Accountants (now CPA Canada) and president of the Institute of Chartered Accountants of British Columbia (now CPA B.C.), and played a senior role in the unification of the Canadian accounting profession. He holds both bachelor of arts and bachelor of commerce degrees (honours) from the University of Windsor in Ontario, and is a member of the Institute of Corporate Directors (ICD.D).

Michael Detlefsen

Mr. Detlefsen is the managing director of Pomegranate Capital Advisors, an active investor advisory firm based in Toronto. He has extensive strategic, operating, board and investor experience. He has held senior executive roles at Air Canada, Bell Canada/BCI, Maple Leaf Foods and Ceres Global Ag Corp., and has worked in the consulting practices of Monitor Company and PwC, as well as for the government of Canada. He has advised and served on many boards, and is known and highly respected in the North American business community and within governments for his strategic acumen, operational insights, objective perspective, and ability to fix and expand businesses under challenging circumstances. He holds a bachelor of commerce (honours) from Queen's University and a master in public policy from the Harvard Kennedy School, and is a member of the Institute of Corporate Directors (ICD.D). He was named to Canada's top 40 under 40 in 2002.

Mr. Donnan

Mr. Donnan is a leader in the global food and agricultural sector with over 40 years of experience working in consumer and food products, technology, and retail industries. He is a partner emeritus at Kearney, an international management consulting firm, and was previously a senior partner at the firm where he led its global food and beverage team. Currently, he is an adjunct professor at Northwestern University in Chicago, as well as an investor in new ventures in agtech and foodtech. He is a board member of Protein Industries Canada and the Foundation for Food and Agriculture Research in Washington, D.C.

Mr. Gordon

Mr. Gordon recently retired as the senior vice-president of Loblaw Brands Ltd., where he led the development and innovation behind some of Canada's largest consumer brands, including President's Choice, no name and Life Brand. With the growing issue of plastic waste in the environment, he now leads Loblaw's plastic reduction strategy, overseeing the company's cross-functional steering committee. Prior to Loblaw, he held senior sales and marketing roles at leading consumer packaged goods companies including Unilever and International Multifoods and president of ACLC Advertising. He is a board member of Recycle B.C., The Canada Plastics Pact and the Food from Thought research program at the University of Guelph. He is a graduate of Queen's University.

Mr. Pigott

Mr. Pigott is the chief executive officer of Club Coffee, a leading Canadian roaster, contract manufacturer and distributor of packaged coffees. He is also the president and chief executive officer of Morrison Lamothe Inc., an independent Canadian food and beverage processor. He has extensive experience in strategic planning, sales and product development in manufacturing frozen food products for many national and retailer owned brands, and is committed to creating ecofriendly products. He has been an active force in his community for almost 40 years, and has served on numerous private company and industry boards, task forces, and associations, including the Canadian Association of Family Business, the University of Ottawa faculty of administration and the Young Presidents Organization.

Ms. Proud

Ms. Proud is a policy strategist who has over 20 years experience in government relations, policy development, and regulatory and legislative affairs. She is currently the president and chief executive officer of Fertilizer Canada. Prior to joining Fertilizer Canada, she served as the chief operating officer for Food, Health and Consumer Products Canada, president of Consumer Health Products Canada, and vice-president of federal government affairs for the Retail Council of Canada. She is a board member of Nutrients for Life, a charitable organization focusing on soil science and agricultural sustainability. She is also a past board member of the Global Self Care Federation and Labour Watch, as well as the Canadian Partnership for Consumer Food Safety Education. She holds a bachelor of applied science from Toronto Metropolitan University (formerly Ryerson University).

Ms. Bitz

Ms. Bitz has over 30 years of experience building, scaling and growing manufacturing and CPG businesses in North America. In her most recent assignment as president, retail, of Dessert Holdings, a leading manufacturer of high-quality dessert products sold through retail and food service customers, she was responsible for the vision, strategy and commercial operations that propelled the business from annual revenues of $65-million to nearly $1-billion through organic growth and mergers and acquisitions. She has also held executive marketing positions at top-tier CPG companies, including PepsiCo Canada and General Mills. She holds an HBA and an MBA from the Ivey School of Business at Western University.

About Rubicon Organics Inc.

Rubicon Organics 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 its premium cannabis flower, product innovation and brand portfolio management, including three flagship brands: its superpremium 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 and its premium concentrate brand Lab Theory.

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

(1) Ms. Bitz has been elected to the board of directors at the meeting, subject to being granted security clearance by Health Canada. A request for Ms. Bitz's security clearance was made to Health Canada; however, the approval process remains in progress as of the date of this press release. Ms. Bitz will be formally appointed to the board once the Health Canada security clearance is obtained.

We seek Safe Harbor.