Market Insights and Update

Tairawhiti, New Zealand – Rua Bioscience Limited (NZX: RUA) is pleased to be able to provide our shareholders and the broader market with an update on our progress across key global markets.
Rua has significantly progressed its differentiated strategy which leverages a capital efficient model with a strong social commitment. Our strengths lie in sourcing and developing legacy genetics from Aotearoa, scaling production through key strategic cultivation partnerships, and ensuring global distribution of our products through well-established channels.

Operational Highlights:

During the first half of 2024, Rua has made extensive progress in expanding its global reach:

Germany: Rua is strengthening its presence in Germany following the extension of our contract with Nimbus Health for an additional 3-year term. We are set to launch a new product by the end of July, which will enable us to capitalise on this market which is growing strongly as a result of recent positive German cannabis regulatory changes.

Australia: Rua is preparing to launch an exciting new range of premium medicinal cannabis products in Australia before the end of August. This range will showcase our legacy genetics from Aotearoa, cultivated at scale by our strategic partner in New Zealand. In a market saturated with imports from Canada, our premium Aotearoa genetics will stand out as a truly differentiated product offering. This new range enhances our current product lineup & strategically positions us for success in this key market.

United Kingdom: Rua is progressing the launch of a range of products in the UK, anticipated by Q4 2024. By entering this market as an early-mover, Rua is set to capitalise on the rapidly growing demand in this sector. The products will be distributed through Target Healthcare, a well-established pharmaceutical distributor with extensive reach within the UK.

Importantly also, Rua will launch a new product in New Zealand before the end of July. This launch is significant to Rua as it signifies growth in our home market and reflects our dedication to investing in and caring for our people. Additionally, this product will be included in Rua’s Compassionate Access Programme, which champions equity through providing medicinal cannabis medicines, at no cost, to individuals in Te Tairawhiti who face barriers to access.

ENDS

The person who authorised this announcement:

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

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Announcement PDF