[PRESS RELEASE] – VANCOUVER, British Columbia, March 3, 2025 – Rubicon Organics Inc., a licensed producer focused on cultivating and selling organic certified and premium cannabis products, announced that it has entered into a purchase-and-sale agreement (PSA) with MediPharm Labs Corp., in which Rubicon Organics intends to acquire an operational, purpose-built 47,500-square-foot indoor cultivation facility in Hope, British Columbia.
“Acquiring the Hope Facility is a milestone for Rubicon Organics and further strengthens our premium production capacity setting up Rubicon Organics to service the growing demand for our leading brand portfolio, and accelerating our growth beyond our existing footprint,” CEO Margaret Brodie said.
Pursuant to the terms of the PSA, the purchase price for the Hope Facility is $4.5 million and is subject to conditions including the company’s satisfaction with due diligence, financing and approval of the company’s board of directors. The company intends to use the Hope Facility to increase its production capacity.
Pursuant to the purchase agreement, Rubicon Organics has agreed to acquire the assets, including certain equipment and the land and building associated with the Hope Facility.
The $4.5 million cash transaction is expected to contribute to MediPharm’s strong, materially debt-free balance sheet without any impact on operations. MediPharm Labs ceased all commercial activities at the Hope Facility in 2024, consolidating operations to deliver cost synergies following its acquisition of VIVO Cannabis Inc. Through the transaction, MediPharm Labs is monetizing its non-core assets to invest in growth and continue delivering premium, GMP-certified cannabinoid products to customers worldwide.
“Securing $4.5 million through the divestment of noncore assets in this transaction will further reinforce MediPharm’s ability to capitalize on strategic M&A synergies, streamline operations and maximize value for both shareholders and valued partners,” MediPharm Labs CEO David Pidduck said. “The sale of the Hope Facility strengthens not only our cash position but also our 2025 focus—investing in our international and medical growth strategies as a global leader in pharmaceutical cannabinoid solutions.”
The transaction is expected to close in the second quarter of 2025.
About the Hope Facility
The Hope Facility spans 47,500 square feet of purpose-built indoor capacity and is equipped with advanced cultivation technology, supporting Rubicon Organics’ strategy to expand its premium product offerings and increase supply to meet rising demand. The company estimates annual production capacity of the Hope Facility to be up to 4,500 kilograms and expects Rubicon Organics’ first harvests in 2025.
The company will provide further updates on the transaction and production timelines in the coming months.
The 47,500-square-foot indoor Hope Facility in British Columbia is equipped with advanced cultivation technology. Read More
