Changes to the Supply Agreement with Cann Group

GENERAL
Mon, Dec 04 2023 09:48 am

Rua Bioscience today announces that Cann Group has given 12 months’ notice to terminate its existing supply contract with Rua Bioscience.

In response to Cann’s decision, Rua Bioscience has engaged legal advice to consider options.

There have been recent quality issues with Cann’s export products, which had already prompted Rua Bioscience to proactively explore alternative supply partnerships.

In the last 12 months, Rua has placed emphasis on securing multiple additional supply pathways with particular emphasis on cultivating our unique genetics in Europe and Australia. We now have more surety that we can consistently supply patients in our key markets of Germany, Australia and New Zealand.

“While we appreciate the history we have had with Cann, we are committed to ensuring the continuity of our operations and maintaining the highest standards in product quality” said Paul Naske, CEO at Rua Bioscience. “

The new supply partnerships will improve supply chain effectiveness and contribute to the overall growth and success of the company.


ENDS


Announcement PDF


Markets News

NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
The kiwi dollar is falling prey to the bears