Rua Bioscience (NZX: RUA) Commentary on Provisional Cannabis Referendum Results

Thursday 5th November 2020

The provisional result of the Cannabis Referendum announced on Friday 30 October has driven significant discussion in the media and in the community. The discussion has highlighted that the difference between medicinal cannabis and recreational cannabis is still not widely understood.

That lack of clarity has meant there has been an incorrect view that Rua Bioscience, which is a licenced Medicinal Cannabis company, is impacted by the outcome (either a yes vote or a no vote) of the Cannabis Referendum. This is not the case.

Ahead of the final result from the Cannabis Referendum being announced, the directors of Rua Bioscience believe it is important to clearly restate that the company’s strategy set out in the Product Disclosure Statement is to develop and primarily export pharmaceutical grade medicinal cannabis products.

Rua Bioscience has no plans to enter the recreational cannabis market if cannabis is legalised in New Zealand beyond the current provisions for medicinal cannabis.

Rua Bioscience is solely focussed on medicinal cannabis. Rua Bioscience is licenced under the Medicinal Cannabis Access Scheme, which came into effect on 1 April 2020. In August, Rua was granted one of the first commercial licences for cultivation, possession for manufacturing and supply of pharmaceutical cannabis.

Source: Rua Bioscience Limited (NZX: RUA )

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