Rubicon Organics Finalizes Conditions for Hope Facility Acquisition

LOS ANGELES- Rubicon Organics Inc. has announced the fulfillment of all conditions precedent related to its agreement with MediPharm Labs Inc. for the acquisition of a 47,500-square-foot indoor cultivation facility located in Hope, British Columbia. The transaction, valued at $4.5 million in cash, is anticipated to close in the second quarter of 2025.

The facility, previously owned by MediPharm Labs, was acquired as part of MediPharm’s 2023 purchase of VIVO Cannabis Inc. MediPharm ceased operations at the Hope Facility in 2024, consolidating activities to optimize operational efficiency.

Rubicon Organics plans to utilize the Hope Facility to enhance its premium cannabis production capacity. The company estimates an annual production capacity of up to 4,500 kilograms, with the first harvest expected by the end of 2025 and revenue realization projected for early 2026.

Margaret Brodie, CEO of Rubicon Organics, stated, “The Hope Facility enhances our ability to meet growing demand for our premium brands, accelerate innovation, and drive long-term value for shareholders.”

This acquisition aligns with Rubicon Organics’ strategy to expand its footprint in the premium cannabis market, leveraging its existing brand portfolio, including Simply Bare™ Organic, 1964 Supply Co™, and Wildflower™. The company continues to focus on cultivating and selling organic certified and premium cannabis products.