Delivered record net revenue of $12.1 million (7% increase) for the three months ended June 30, 2024 Delivered $21.0 million net revenue (5% increase) for the six months ended June 30, 2024 Adjusted EBITDA1 of $0.9 million for the three months ended June 30, 2024 Operating cash flow of $1.1 million for the three months ended June 30, 2024 Free cash flow2 of $0.7 million for the three months ended June 30, 2024 Number one premium licenced producer across all categories3 2.0%4 national market share of flower and pre-rolls for the three and six months ended June 30, 2024 5.7%5 and 6.1%6 national market share of premium flower and pre-rolls for the three and six months ended June 30, 2024 Wildflower™ is the number one topical brand in Canada with market share of 28%7 for the six months ended June 30, 2024 29.9%8 and 26.8%9 national market share of premium edibles for the three and six months ended June 30, 2024 Launch of full spectrum extract vapes in BC, Alberta and Ontario VANCOUVER, British Columbia, Aug. 15, 2024 (GLOBE NEWSWIRE) --  Rubicon Organics Inc. (TSXV:ROMJ) (OTCQX:ROMJF) ("Rubicon Organics" or the "Company"), a licensed producer focused on cultivating and selling organic certified and premium cannabis, today reported its financial results for the three and six months ended June 30, 2024 ("Q2 2024"). All amounts are expressed in Canadian dollars. "Rubicon Organics' house of premium brands remains the #1 premium licensed producer in Canada. I expect this leadership position to grow with our entry into the vape sector where two strains were launched in Q2 2024. I'm proud to report that we have already seen our national distribution hit over 40% of stores in the first two months of sales to July. I expect this growth momentum to continue as we expect to have five vape strains in market by year-end," said Margaret Brodie, CEO. Janis Risbin commented, "I am pleased to announce a record quarter with net revenue reaching $12.1 million, leading to a profit from operations and an adjusted EBITDA of $0.9 million. Additionally, we have generated $1.1 million in operating cash flow and $0.7 million in free cash flow, all while investing in our one-time ERP project, maintaining a strong balance sheet and advancing through the late stages of our debt financing negotiations that I expect to be completed at similar terms to our existing debenture. We acknowledge the shift in consumer preference toward larger format purchases, which yield lower gross profit per unit. However, we are proactively working to re-engage consumers with our more profitable product offerings."   Q2 2024 and Subsequent Highlights:For the three and six months ended June 30, 2024 Net revenue of $12.1 million (7% increase from Q2 2023) and $21 million (5% increase from Q2 2023) for the three and six months ended June 30, 2024. Gross profit before fair value adjustments of $3.7 million (21% decrease from Q2 2023) and $5.8 million (23% decrease from Q2 2023) for the three and six months ended June 30, 2024. Adjusted EBITDA10 gain of $0.9 million and $0.4 million compared to $1.8 million and $1.9 million in Q2 2023, for the three and six months ended June 30, 2024. Cash provided by operating activities of $1.1 million for the three months ended June 30, 2024. Free cash flow of $0.7 million for the three months ended June 30, 2024. Number one premium licenced producer across all categories11 with 6.5% market share, up from 4.95%12 2.0%13 national market share of flower and pre-rolls for the three and six months ended June 30, 2024. 5.7%14 and 6.1%15 national market share of premium flower and pre-rolls for the three and six months ended June 30, 2024. WildflowerTM is the number one topical brand in Canada with market share of 28%16 for the six months ended June 30, 2024. 29.9%17 and 26.8%18 national market share of premium edibles for the three and six months ended June 30, 2024. Launch of full spectrum extract vapes in Alberta, BC, and Ontario initially with cultivars Blue Dream and Comatose followed by GLTO #41. 2024 Results of Operations:   Three months ended Six months ended   June 30,2024$ June 30,2023$ June 30,2024$ June 30,2023$ Net revenue 12,105,697 11,281,793   20,996,114 20,081,733   Production costs 2,931,952 2,592,334   5,624,644 5,270,938   Inventory expensed to cost of sales 5,209,148 3,916,114   8,946,482 6,851,008   Inventory written off or provided for 312,964 173,179   579,003 330,603   Gross profit before fair value adjustments 3,651,633 4,600,166   5,845,985 7,629,184   Fair value adjustments to cannabis plants, inventory sold, and other charges 398,790 (606,406 ) 563,042 (466,943 ) Gross profit 4,050,423 3,993,760   6,409,027 7,162,241                 As At: June 30,2024 $ December 31,2023$ Cash and cash equivalents 9,501,994 9,784,190 Working capital † 9,795,925 10,132,089 † Working capital as at June 30, 2024 includes $10.8 million current portion of loans and borrowings. The Company is currently in discussions with the debenture holder and other lenders ...