Rua launches legacy NZ cannabis genetics in Australia

Tairawhiti, New Zealand – Medicinal cannabis company, Rua Bioscience Limited (NZX:RUA), is continuing its expansion into Australia and today announces the launch of its first product into this market using New Zealand cannabis genetics. Rua’s Chief Executive, Paul Naske, says the launch of the product – a dried flower called Rua Rau Hiwa – is a milestone to achieve as it signifies the business fulfilling its commercial model focused on the two ends of the value chain: genetics and international distribution. “We are proud to offer Rua’s medicinal cannabis genetics, sourced from New Zealand’s legacy market to thousands of patients across Australia. “We continue to prioritise R&D and genetic discovery. Tairawhiti is home to ‘legacy’ genetics developed over generations – it is these unique cannabis strains that are grown and discovered at Rua’s facility in Mangaoporo. “New Zealand has an excellent heritage in horticultural IP, and we are uniquely positioned to trade on ‘Brand NZ’ as a clean and safe environment with a globally recognised and trusted provenance story. “For more than 50 years, growing cannabis in New Zealand has been about back-door expertise that’s been developed illicitly. Now, we have an opportunity for this expertise to flourish, supported by our scientists and our own legacy growers who deeply understand how premium cannabis plant genetics can form effective medical solutions. “This is the competitive advantage we have on the global stage, with Australia being the first of a number of countries that will receive our genetics,” says Mr Naske. Australia is one of the world’s largest medicinal cannabis markets, estimated to be worth around $450 million, with over 300 prescribers. Australia imported over 42 tonnes of medicinal cannabis in 2023, a 69% increase compared to the previous year. Its regulatory environment makes it one of the fastest growing and competitive markets in the world.   “Rua has successfully built a product and sales pipeline in this high-growth market for dried flower and full-spectrum oil products. “We currently have four distributors in Australia, with one covering 50% of the market, giving our products exposure to around 200,000 medicinal cannabis patients nationwide — a number that continues to grow. By utilising multiple distribution channels, we can access different segments of the market, and our range also now caters to diverse patient needs and price points,” says Mr Naske. Rua is now focusing its attention on introducing New Zealand genetics into the German market in the next year. ENDS     The person who authorised this announcement: Paul Naske Chief Executive Officer paul.naske@ruabio.com +64 21 445154 For media inquiries, please contact: Paul Naske paul.naske@ruabio.com