Cultivation agreement with Cannprisma, Portugal

Rua Bioscience partners with Cannprisma for pre-commercial cannabis trials in Portugal Tairawhiti, New Zealand - Rua Bioscience today announced another milestone in its strategy to commercialise its proprietary genetics globally. The Tairawhiti-headquartered company has signed an agreement with Portugal-based Cannprisma to conduct pre-commercial trials of Rua's unique cannabis varieties. Following this agreement, Rua will send cannabis clones to Portugal - the first clones to be legally exported from New Zealand. The agreement is laid out in two stages: the crucial first stage is pre-commercial cultivation trials in Portugal to prove the performance of the varieties in the new environment. Following successful trials, the agreement allows for commercial production. "This partnership underscores Rua's commitment to our strategy of cultivating our genetics at scale in export markets," said Rua CEO Paul Naske. "Portugal is an efficient and well-established cultivation and manufacturing hub for cannabis products. Cannprisma have a proven track record in the development, cultivation and export of high-quality medicinal cannabis." "By conducting trials in collaboration with Cannprisma, we anticipate generating important data to scale our unique genetics for commercial production for sales in the key markets of Germany and the UK." Rua began selling products in Germany in May 2023, in collaboration with distribution partner Nimbus Health. In December, Rua signed a distribution agreement with Target Health to supply Rua product in the growing UK market. www.ruabio.com www.cannprisma.com 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 End CA:00428616 For:RUA Type:MKTUPDTE Time:2024-03-26 13:28:56