[PRESS RELEASE] – VANCOUVER, British Columbia, March 3, 2025 – Rubicon Organics Inc., a certified manufacturer curious about cultivating and promoting natural licensed and top rate hashish merchandise, introduced that it has entered right into a purchase-and-sale settlement (PSA) with MediPharm Labs Corp., through which Rubicon Organics intends to gain an operational, purpose-built 47,500-square-foot indoor cultivation facility in Hope, British Columbia.
“Obtaining the Hope Facility is a milestone for Rubicon Organics and additional strengthens our top rate manufacturing capability putting in place Rubicon Organics to carrier the rising call for for our main logo portfolio, and accelerating our enlargement past our current footprint,” CEO Margaret Brodie stated.
Pursuant to the phrases of the PSA, the acquisition value for the Hope Facility is $4.5 million and is matter to stipulations together with the corporate’s pleasure with due diligence, financing and approval of the corporate’s board of administrators. The corporate intends to make use of the Hope Facility to extend its manufacturing capability.
Pursuant to the acquisition settlement, Rubicon Organics has agreed to obtain the property, together with sure apparatus and the land and development related to the Hope Facility.
The $4.5 million money transaction is anticipated to give a contribution to MediPharm’s robust, materially debt-free steadiness sheet with none affect on operations. MediPharm Labs ceased all industrial actions on the Hope Facility in 2024, consolidating operations to ship price synergies following its acquisition of VIVO Hashish Inc. In the course of the transaction, MediPharm Labs is monetizing its non-core property to spend money on enlargement and proceed handing over top rate, GMP-certified cannabinoid merchandise to consumers international.
“Securing $4.5 million during the divestment of noncore property on this transaction will additional enhance MediPharm’s skill to capitalize on strategic M&A synergies, streamline operations and maximize price for each shareholders and valued companions,” MediPharm Labs CEO David Pidduck stated. “The sale of the Hope Facility strengthens now not handiest our money place but in addition our 2025 center of attention—making an investment in our world and clinical enlargement methods as an international chief in pharmaceutical cannabinoid answers.”
The transaction is anticipated to near in the second one quarter of 2025.
About the Hope Facility
The Hope Facility spans 47,500 sq. ft of purpose-built indoor capability and is provided with complicated cultivation generation, supporting Rubicon Organics’ technique to amplify its top rate product choices and building up provide to satisfy emerging call for. The corporate estimates annual manufacturing capability of the Hope Facility to be as much as 4,500 kilograms and expects Rubicon Organics’ first harvests in 2025.
The corporate will supply additional updates at the transaction and manufacturing timelines within the coming months.
