Rua commences legal proceedings against Cann Group

GENERAL

Thu, Feb 15 2024 11:47 am

Tairawhiti, New Zealand – Rua Bioscience has today served legal proceedings against Cannoperations Pty Ltd (Cann), a wholly owned subsidiary of Cann Group Limited in Australia, claiming damages for a breach of contractual rights to exclusively sell Cann’s medicinal cannabis products in Australia.

On 4 December 2023, Rua Bioscience announced that Cann Group had given 12 months’ notice to terminate its existing supply contract, which is between Cann and Rua.

The proceedings commenced by Rua in the Supreme Court of Victoria today are in respect of a claim by Rua that Cann has breached an exclusive supply term provided for in the supply contract. That exclusive supply term provides that Cann will supply specific medicinal cannabis products exclusively to Rua for re-sale in Australia and New Zealand during the term of the contract. Rua is of the view that these breaches have caused Rua to suffer significant damages.

ENDS

The person who authorised this announcement:

Paul Naske
Chief Executive Officer
[email protected]
+64 21 445154

For shareholder enquiries please visit www.ruabio.com or contact:
[email protected]
0800 RUABIO