RUA BIOSCIENCES ( Hikurangi)

[Joshuatree]

Rua Bioscience |



(https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjXmPCayPvrAhWO4jgGHVYoD1UQFjAAegQIARAD&url=https%3A%2F%2Fwww.ruabio.com%2F&usg=AOvVaw32zJhnBZ8tj5J500LgyRJS)New Zealand medicinal cannabis company, Rua Bioscience, has secured an export partnership with German distributor Nimbus Health.Nimbus Health is an independent pharmaceutical wholesaler with warehouses near Frankfurt that specialises in the importation and distribution of medicinal cannabis products into Germany. The company provides pharmacies across Germany with pharmaceutical-grade medicinal cannabis products for patient prescriptions.
Rua Bioscience CEO, Rob Mitchell says, “Germany is Europe’s most mature medicinal cannabis market and we are proud to be the first New Zealand company to announce a binding export agreement with a reputable distributor there.”
“Our agreement with Nimbus Health means Rua Bioscience is their exclusive New Zealand supplier and we are creating unique cannabis medicines together to serve the patient base in Germany more efficiently. This provides certainty for our production goals and signals international confidence in our ability to produce pharmaceutical-grade cannabis medicines,” says Rob Mitchell.
Linus Weber, founder and managing director of Nimbus Health says he is excited to have signed an exclusive agreement with Rua Bioscience to supply German patients with medicinal cannabis from New Zealand.
“Our mission is to supply patients in Europe consistently with the highest grade of medical cannabis products from reliable sources in a sustainable manner – and Rua is well positioned to help us achieve this goal.”
Nimbus Health currently supplies pharmacies serving over a quarter of the 75,000 ongoing patients using medicinal cannabis in Germany. Around 60 per cent of prescriptions have full medical insurance reimbursement and over 2,500 German doctors currently prescribe cannabis for a wide range of conditions.
Rua Bioscience Chairman, Trevor Burt, says this partnership is a key milestone in progressing the company’s global export strategy.
“The global medicinal cannabis market is estimated to be worth over one hundred billion by 2026 and with New Zealand being just a small fraction of that, it’s crucial that we connect our cultivation expertise and good horticultural practices with experienced international suppliers who can distribute our product further afield.
“This export partnership expands on our established relationships with leading international cannabis researchers and ensures we are at the forefront of the global growth of our industry,” says Mr Burt.
Since becoming licensed to breed, research, trial and import cannabis in 2018, Rua Bioscience has worked to establish the foundations required for an export-led growth strategy under the new Medicinal Cannabis Scheme that became operational in April.
This work has included the harvest of the company’s first crop of medicinal cannabis flowers, coupled with strengthening of the company board and senior leadership with the appointment of Mr Burt as Chairperson, directors with global pharmaceutical, marketing and finance expertise and new CEO, Rob Mitchell.
“Over the past 18 months, we’ve worked hard to ensure that we have the right strategy and people in place to grow and manufacture quality pharmaceutical-grade products.
“While these partnerships reflect our focus on expansion internationally, economic development and job creation in Tairāwhiti remains a priority for the business.”

[RGR367]

Hiayayay Santa Banana another weed growing company!

[Joshuatree]

Are you really a "senior" member.How have you got through life so ignorant?:confused:

[bull....]

good doco by gower againon weed last night on tv3

[RGR367]

Are you really a "senior" member.How have you got through life so ignorant?:confused:

WOW! I know you started the thread but how can that comment makes you so nasty already? Looks like you need to smoke more of that stuff man as you're not high enough yet.

[Joshuatree]

ignorant. Do you even know what CBD is, just stop being corny and be factual is all i ask.

[iceman]

Are they planning to list on the NZX ?
"Your place to discuss the Instruments listed on the NZX market."

[Joshuatree]

Ive been told by my broker thatthe offer closes tomorrow and lists in October.Not a lot of info available but like the look of CEO, ex Roche and aspirations to supply to the German market.

[iceman]

Ive been told by my broker thatthe offer closes tomorrow and lists in October.Not a lot of info available but like the look of CEO, ex Roche and aspirations to supply to the German market.

OK thanks JT. Hadn't seen anything about it

[Joshuatree]

Yes NZX if there is enough takeup i guess.

[Sideshow Bob]

good doco by gower againon weed last night on tv3

Rua was covered in the doco last night - looked like a modern/reasonable set-up.

Their head grower had alot of experience growing. But just now legal and getting paid for it! :laugh:

[Snow Leopard]

Hiayayay Santa Banana another weed growing company!
https://3cfmhg21atqf2isl5j2ps82c-wpengine.netdna-ssl.com/wp-content/uploads/2014/11/Santa_Bananas_14-1024x763.jpg
DIY Santa Bananas (https://blog.creativebug.com/diy-santa-bananas/)

[Snow Leopard]

Are you really a "senior" member.How have you got through life so ignorant?:confused:

From their website:
"New Zealand’s remote East Coast, Tairāwhiti region, beneath the shadow of Mount Hikurangi and shouldered by the Pacific Ocean, is one of the first places in the world to see the sun rise each day."

"...our new, high security cultivation site near..."

They are pretty mellow for yet another weed growing company.
Bound to be a commercial success :p .

[Joshuatree]

Hope so .Giving them opportunitys to improve their living standards and for many getting out of poverty and into Jobs and new skill sets. CBD lmproves the lives of many peoples and I like their plan to supply the German mkt. High risk from this investors point of view at this early stage ,have applied for a few.

[Biscuit]

Ive been told by my broker thatthe offer closes tomorrow and lists in October.Not a lot of info available but like the look of CEO, ex Roche and aspirations to supply to the German market.

I filled in the EOI. Website says they just asking for expressions of interest not asking for $ yet. Maybe that's out of date?

According to the automatic email reply to the EOI: "Subject to any legal restrictions in the jurisdiction in which you reside, you will be notified by email when the Product Disclosure Statement becomes available. No money is currently being sought...."

[Joshuatree]

Yes you're right. Ive heard today been scaled back re 7% of what i applied for.

[Lion_graf]

New Zealand cannabis firm Rua Bioscience today opened its priority share offer ahead of its NZX listing later this month.

This first stage will see $15 million in shares made available to the large retail brokers and institutional investors.

READ MORE:
• Premium - Medicinal cannabis company Rua Bioscience plans IPO for later this year
• Major Kiwi cannabis firm Rua Bioscience appoints new boss
• Premium - Kiwi cannabis firm Rua Bioscience harvests first crop from 5000 plants
• Kiwi firm Rua Bioscience advertising for experienced cannabis grower

A further $5m worth of shares will also be made available to Tairāwhiti residents, existing shareholders in Waiapu Investments and others closely associated with the business.

There is currently no public pool of shares available in the offer.

Rua Bioscience aims to raise up to $20m in new capital through the initial public offering, giving it an implied value of $70m.

The company is selling 40 million shares at 50 cents per share, accounting for a total 28.6 per cent stake in the company.

The broker firm offer will close 16 October, followed by a plan to list on the NZX main board on October 22.

This will mark the first new NZX listing since Napier Port in August last year.

The move will see Rua Bioscience join Cannasouth as New Zealand's only other listed cannabis company.

Cannasouth first listed on the NZX in June last year at 50 cents.

The company's stock is currently trading at 88c.

[trader_jackson]

apparently this is being offered via sharesies...
I'll let you draw your own conclusions how this is going to go based off that!

[MarineSalvage]

so true - I got the email, and then deleted it

apparently this is being offered via sharesies...
I'll let you draw your own conclusions how this is going to go based off that!

[Ferg]

Can anyone see how the shares on issue went from 14.47m per the 2020 annual report to 100m per the Product Disclosure Statement?

[nztx]

Can anyone see how the shares on issue went from 14.47m per the 2020 annual report to 100m per the Product Disclosure Statement?


Yes - a share subdivision - see clause B of the 15 Sep 2020 resolution - link to pdf on Companies Office site


https://app.companiesoffice.govt.nz/companies/app/service/services/documents/DE11AEC66EB13D4011DDF1E726B829A4


"The Company proposes to undertake a share subdivision pursuant to section 48(c) of the Companies
Act 1993 and clause 7.1.2 of the Company’s constitution, at the ratio of 1:5.882 Shares with fractional
entitlements being rounded up to their nearest whole share (Share Subdivision). The share capital of
the Company (on an undiluted basis) will increase from 17,003,096 Shares currently on issue to
100,012,225 Shares on issue as a result of the Share Subdivision."


This increases existing holders stakes (before subdivision) up to 5.882 shares for each one held before

At least this method of existing holders obtaining / creating vendor value doesn't put additional intangible balances
on the company balance sheet, even if it does represent creating a mere $41.5 million (at Float IPO 50c level)
windfall bonus for the earlier stakeholders, be that locked in or whatever, subject to the market winds..


There have been other Share Capital increases before this in March, May & June 2020 -

"Update shares" on the following coys.co.nz page refers to these -

https://coys.co.nz/:entity?no=6484092&nzbn=9429046397072&name=RUA+BIOSCIENCE+LIMITED

[Baaarney]

Pretty heavy scaling on the Sharesies applications ...

Thanks for taking part in Rua Bioscience Limited’s Initial Public Offering (IPO) through Sharesies!

The IPO received really strong interest—the total amount that was applied for is more than the amount we have available to allocate. Because of this, we’ve scaled back everyone’s applications. To do this fairly, every application has been scaled by 27%. For example, if you applied for $100 worth of shares, you’ll only receive $27 worth of shares.

[Joshuatree]

Thanks but something not right with the maths there.$100 worth of shares x 27% - =$73 worth

[Hello123]

Pretty heavy scaling on the Sharesies applications ...

Thanks for taking part in Rua Bioscience Limited’s Initial Public Offering (IPO) through Sharesies!

The IPO received really strong interest—the total amount that was applied for is more than the amount we have available to allocate. Because of this, we’ve scaled back everyone’s applications. To do this fairly, every application has been scaled by 27%. For example, if you applied for $100 worth of shares, you’ll only receive $27 worth of shares.

This would mean they receive 27% of what they applied for?

[shazam]

The maths is fine. They should've said scaled to 27% rather than by.

[Joshuatree]

Thanks , a big difference and looks very positive for a great listing.

[nztx]

The maths is fine. They should've said scaled to 27% rather than by.


What was allocated was in fact only 26.624% of what was applied for via the Sharesies broker allocation by my calculations

No public pool could make listing day very interesting for RUA on where the SP then goes..

Obviously there are a pool of Gisborne locals who may have been entitled to a small preferential IPO take up
which could make for a large Registry book to look after all the rats & mice holdings

[baaantom]

Is there a prospectus available?

[tim23]

Is there a prospectus available?

No doubt there will be one, its part of the IPO process.

[Sir Ten]

Is there a prospectus available?

All information here: https://app.companiesoffice.govt.nz/disclose/fmc-register/viewInstance/view.html?id=0b027646737e9b078e74243e832d9903eea0a 890d74cb344&_timestamp=3260185980847251

[baaantom]

All information here: https://app.companiesoffice.govt.nz/disclose/fmc-register/viewInstance/view.html?id=0b027646737e9b078e74243e832d9903eea0a 890d74cb344&_timestamp=3260185980847251

Excellent, cheers.

[Joshuatree]

Looks very promising especially for the locals, great to hear, heres hoping it thrives for them.

“Listing on the NZX later this week will be a special milestone for Rua, its people, investors and the East Coast community and we look forward to the journey ahead.”

New Zealand Pharmaceutical company, Rua Bioscience has closed its Initial Public Offering and has successfully raised $20 million from a combination of retail investors and a small number of New Zealand institutions.
The company has confirmed its Priority and Broker Offers were well oversubscribed, ahead of its planned listing on the NZX this Thursday.
This has meant that most applicants into the Offer are likely to have their applications scaled to some degree.
A Priority Offer was made available to Tairāwhiti residents, existing shareholders in Waiapu Investments Limited and other people closely associated with the business. The remaining shares were offered through a number of broking firms.
Shares will be allotted on Wednesday 21 October and Trading is expected to open at 11:00am on Thursday 22 October.
Rua Bioscience Chair Trevor Burt says the level of interest in the Offer reaffirms the confidence of the investor community in Rua’s focussed export-led strategy, clear path to revenue and proven ability to execute on its strategy.
“This is an exciting sunrise industry. We have the advantage in New Zealand of our medicinal cannabis industry being at the leading edge, not the bleeding edge so we can learn from the more mature markets, while drawing on New Zealand’s horticultural heritage in developing valuable plant genetics IP. This will underpin Rua’s ability over time to develop diverse revenue streams along the value chain from plant genetics and agritech to the development and international sale of pharmaceutical grade cannabis products.

[peat]

the three year-old company has yet to sell any dried cannabis flowers or secure a cultivation licence, and that there is not enough information about its main distribution agreement with German firm Nimbus.


Potential new investors are not in a position to evaluate the revenue or margin those sales might generate and there are no financial forecasts of any sort in the product disclosure statement.

[Joshuatree]

A longer term story if one wants to go along for the ride.
Heres the crowd funded one from green fern ,they are throwing big 2022 carrots in there. The REEferendum will help both if its positive

Greenfern Industries Updated Information Memorandum (https://equitise-v3.cdn.prismic.io/equitise-v3/32bdb512-3339-4c06-bbdb-4ca3d9301f04_GFI-InfoMemo-19Oct2020.pdf)

[youngatheart]

Are shares available from tomorrow?

[peat]

Offer Timetable


Priority and Broker Firm Offer opens - 5 October 2020

Priority Offer closes - 13 October 2020

Broker Firm offer closes - 16 October 2020

Settlement and allotment - 21 October 2020

Expected date of quotation & trading on NZX Main Board - 22 October 2020

All dates mentioned in this release are indicative only and are subject to change.

[nztx]

Any guesses on what RUA will list at & reach tomorrow ?

[peat]

it would be great to see an exciting IPO. but I've not invested. Way too risky for me.
I cant understand why they have so explicitly ruled out the recreational market but they have. Possibly there is only real money to be made under the guise of health. well mantle if not guise.
They have stated they will lose money for two years and havent even got a product yet , estimated 1st half ' 21, so lets say August 2021 before any real revenue.
But because cannabis is popular with investors at the moment and probably even more because that other cannabis company had their share price shoot up to crazy levels this will go pretty well I reckon.
I'll punt that it will go to 78 on IPO day

[DownTownJr]

CBD hype + Sharesies is sure to see this stock pump today, but I'm sure it will be met equally with a massive dump. Some quick gains for those who got in early. I do not hold any shares and am not interested in taking a gamble on this one. I don't see how they can be profitable.

[Curly]

High bid .64

[sb9]

High bid .64

Not high conviction volume though...


3,000
1
64

[HITMAN]

I have no idea how they value themselves so high. Show me the numbers, market potential, products, history. Am I missing something...

[Joshuatree]

CBD hype + Sharesies is sure to see this stock pump today, but I'm sure it will be met equally with a massive dump. Some quick gains for those who got in early. I do not hold any shares and am not interested in taking a gamble on this one. I don't see how they can be profitable.

They wont be profitable for a few years, have you read the prospectus etc.?

[humvee]

So they have gone into HALT before market open?

[Joshuatree]

They dont start trading until 11 am.

[peat]

They dont start trading until 11 am.

yeh I saw this when I was reading the doc's and thought aha, this'll catch a few, but its for a good reason.
it gives everyone time to wake and bake , and have a coffee before getting into some dealing i mean trading.

Personally I'd buy some shares for the product discount if they go into recreational supplies.

[Joshuatree]

If the reeferendum passes that could turbo interest in RUA,Greenfern and Canna south.

[peat]

If the reeferendum passes that could turbo interest in RUA,Greenfern and Canna south.

but not their actual potential as a profit making company because they['re purely medicinal

[Joshuatree]

I think that would change with the easy addition of another revenue stream.Opened re @ 70c.

[peat]

I'll punt that it will go to 78 on IPO day

the high (if you'll excuse the expression) so far is 75

Close huh :+)

[Joshuatree]

I suggested 75c to my friend who is a foundation holder :t_up:

[Sir Ten]

Well done to all the traders today... for every seller, there's a buyer... I pity anyone buying for more than zero and intending to hold longer than 24 months.

[Maverick]

Well done to all the traders today... for every seller, there's a buyer... I pity anyone buying for more than zero and intending to hold longer than 24 months.
How is this kind of listing even allowed by the NZX?
All listings like this (insert CBD too)will ultimately teach the sharsies newbies that the NZSX is just gambling and ultimately confirm the general public advice "just put in what you are prepared to loose. "

After this RUA (RUAness) experience works out to its inevitable conclusion, the takeaway lesson will be carried with them for a decade or two ahead when they really do have some dosh, is to only invest in bricks and mortar ...something that you can touch. (anybody heard this before?)

A good case case study of how badly investing in a new company based almost solely on market hype at the time can go is MOA . Listing 7 years ago in the age of the craft beer revolution , a lot of investment ( and brewing ) naive middle age men, were drawn to the sexiness of own a piece of a brewery.

Luckily, in todays case , the eventual loss of their capital won't be too scarring as it's probably little more than the cost of a few dozen DB Export.

[peat]

But Maverick !
This company needs capital, and that is what stock exchanges are principally designed to provide.
We may have our doubts about their business model but they could succeed. No one knows they wont. So yes it should be allowed , there is obviously capital out there looking for risk. Hey I'm not suggesting by any stretch I personally think it is a good investment. But they have a plan, a story, and some people are prepared to back them. They're doing research , paying salaries, growing plants that breathe out oxygen , it is all good enterprise, something this country needs more of apart from sheep and cows and houses.

[Sir Ten]

But Maverick !
This company needs capital, and that is what stock exchanges are principally designed to provide.
We may have our doubts about their business model but they could succeed. No one knows they wont. So yes it should be allowed , there is obviously capital out there looking for risk. Hey I'm not suggesting by any stretch I personally think it is a good investment. But they have a plan, a story, and some people are prepared to back them. They're doing research , paying salaries, growing plants that breathe out oxygen , it is all good enterprise, something this country needs more of apart from sheep and cows and houses.

As I say, for every (willing) seller there's a (naive) buyer... it's a free market which has plenty of fools willing to be separated with their money...

...More cliches in that last sentence than Rua has a chance of being profitable in 2 years.

[Joshuatree]

But Maverick !
This company needs capital, and that is what stock exchanges are principally designed to provide.
We may have our doubts about their business model but they could succeed. No one knows they wont. So yes it should be allowed , there is obviously capital out there looking for risk. Hey I'm not suggesting by any stretch I personally think it is a good investment. But they have a plan, a story, and some people are prepared to back them. They're doing research , paying salaries, growing plants that breathe out oxygen , it is all good enterprise, something this country needs more of apart from sheep and cows and houses.

Great balanced and reasoned post thanks .We need to expand out from the traditional farming and CBD is a multi billion $ industry and growing fast with increasing use and acceptance, because it works and demand is increasing rapidly .

"How is this listing even allowed....." What on earth are you on Maverick? Whats your agenda here i hope its not racist or anti cannabis or a religious nut outburst. Hoping for some balanced reply from you and not some weird reactive stuff.

[Snow Leopard]

...Hoping for some balanced reply from you and not some weird reactive stuff.

Pot. Kettle. Black. :p

[Maverick]

Great balanced and reasoned post thanks .We need to expand out from the traditional farming and CBD is a multi billion $ industry and growing fast with increasing use and acceptance, because it works and demand is increasing rapidly .

"How is this listing even allowed....." What on earth are you on Maverick? Whats your agenda here i hope its not racist or anti cannabis or a religious nut outburst. Hoping for some balanced reply from you and not some weird reactive stuff.My quarrel with this type of start up company , CBD, Snakk or MOA etc is very simply that they under mine the institution of the NZSX. I don't give a rats ar*e that they are selling weed, alcohol, P or whatever so you can stand down on that concern.

BTW are you saying by racist that Maoris smoke dak? that would be racist wouldn't it? Maybe I'm maori and you mean its you`s white fellas smoking it ?

Back on topic....You've got great companies like CEN,FPH , MFT, AIR , SPK etc etc etc all in the same investing space endorsing this start up just by association.

Peat, I agree the exchange is there to secure capital that basically a bank wont forward. But in my mind this capital raised is to expand or enhance an existing up and running concern( or sell off a national asset so big that no one man can afford it alone) .
These trendy start ups are high risk and in my view, by appearing with respected brands , seems somewhat opportunistic by coat tailing the big boys by operating on the same platform. Enabled only by the new phenomena of Sharsies.
It makes me cross that the NZX allow what will be ultimately institutional damage of such infant businesses likely to fail into its ranks that are only currently popular because only of a trendy product offering (don't care if its craft beer, IT, or in this case "houch"). Founders / directors then gift themselves nice salary , stock options and status with all risk born out by the shareholders.

These companies are essentially just an idea that will most likely transfer wealth form the new gullible to the directors back pocket. Al via initial listing and inevitable subsequent capital raising.
These new companies that I have umbridge with have no product and no customers. If they went to a second tier platform instead( a lower level NZSX , crowd funding or whatever) for private equity then there is no issue from me.
To have them show up on here though on the NZSX Im saying they should have at least an existing profitable base on which to expand, that's my quarrel, not the products ( anti cannabis...just for the record JT I voted "yes "to legalizing it)
Praise Jesus too. ;)

[peat]

so Mav, you agree that they should be able to list and gather risk takers capital and puff it up or piss it out lol, but just not on the NZX?
Maybe on the USX would be better suited. And that would be fair comment. But the problem is NZ is too small and just cant sustain multiple boards. And I totally agree that this is high risk stuff. Hence my avoidance and posting about its lack of concrete , but just because it doesnt make a profit is not a good reason to starve it of capital , think Xero or plenty of others.

Yes there is veneer of authenticity provided by listing on the NZX, and I suspect you are just trying to protect the gullible, and thats honourable enough. Pehaps NZX need to up their disclaimer levels same as USX.

But no I dont really believe that. Disclaimers are naff. Worse than diversification ;+)

The risk curve has moved and this is all part of it. Just look at those smart investors who invested in this IPO at 50c

[Sir Ten]

Don't typically rate much of the NZ Herald's "journalism", however this (paywalled) article is pretty apt...

Cowboy cannabis crowdfunding: Reining in weed's Wild West (https://www.nzherald.co.nz/business/cowboy-cannabis-crowdfunding-reining-in-weeds-wild-west/BEPIUSQDZVX6EN7ZUPPFIYQSXY/).

Cowboys is a friendly moniker in my view.

[peat]

so , although not invested financially, I am staying interested enough to watch a doco on the tele and read their presentation today.

So far they would seem to just spending the money on buildings and salaries and I guess developing skills though they also seem to be seeking others to provide them with flower. There are definitely some useful milestones passed though, such as GMP certification.

But as explained the road map to breakeven is end of calendar 2023. with first NZ sales of product early next year 2022, and first consignment as part of their secured contract is scheduled for delivery to Germany later next year. So still a while to pay salaries from investors pockets before revenue from significant sales.

I really couldnt invest in this company as it does seem a bit of a charitable vehicle for the locals and I'd be surprised if they can make hard decisions when necessary. But happy to keep in touch with their progress.

[partya]

First time poster....

Agreed, I looked at this company and decided to invest some mildly speculative funds into Cannasouth. RUA seems to be quite complicated structurally, plus they don't seem to move as fast as comparable companies. Hopefully they do alright though.

My $0.02, cheers

[Dlownz]

Personally I hope they succeed and create something good near gisborne. Watching the first episodes of the doco they didn't seem very organised. I'll watch more on their progress but at this stage to me it's a crowded market globally and we might be too late to the party. On a plus medical canninis prices will get cheaper

[Sideshow Bob]

Is this a negative spun into a positive??

https://www.nzx.com/announcements/408924

Rua Bioscience (NZX:RUA) announces the export-led company will cease local GMP manufacturing and accelerate its global brand strategy, building its international product pipeline while developing valuable points of difference in the areas of genetic discovery and novel product development. Working with manufacturing partners, Rua expects New Zealand patients will ultimately benefit from a wider range of affordable medicines.

CEO, Paul Naske, says Rua has been actively exploring where true value lies in the medicinal cannabis industry, where the company’s unique strengths can propel it, and how Rua can best serve the needs of patients and investors.

“To capture value and encourage growth we will focus on our key strengths – leveraging our global-scale supply agreement and established sales and marketing partnerships across Europe to build a sustainable global company, while our world-class cultivation team in Ruatorea works on unique genetics for our established and future product pipelines.”
Rua has focused on the high-growth European medicinal cannabis market, which is expected to be worth as much as NZ$3.9b by 2026 [1]. The company has significantly advanced plans for market entry in Germany, is positioning itself as an early mover in Poland, and investigating other emerging medicinal cannabis markets with the support of its European partners Nimbus and Motagon.

Chairman, Trevor Burt, says the Board believes this refinement is consistent with Rua’s founding strategy and reflects the benefit of Rua’s capital-efficient approach, which allows Rua to move with relative agility at global scale.

“As an export-led company, we have advanced negotiations in high-value European markets and are now assessing commercial opportunities in Australia, an exciting market right on our doorstep; our intellectual property strategy maintains its focus on plant discovery and breeding, and the formulation of unique finished products; and we remain committed to building a sustainable business that creates intergenerational opportunity in Te Tairawhiti,” he says.

Mr Naske says, the company will retain its focus on the supply of GMP-certified medicines and expects to do this in a more cost-effective and expedient way, particularly for New Zealand patients.

“Rua will work with manufacturing partners to build out our product portfolio while developing branded products utilising our internally developed IP.”
In the meantime, Rua is planning for continuity of supply for New Zealand patients.

“There is ample stocks of Rua medicine (with the appropriate shelf life) available through Rua’s distributor, with stock ring-fenced for patients on Rua’s compassionate access programme. The company remains committed to developing a domestic product pipeline, ensuring prescribers and patients have access to medicines, and will update prescribers with those details in the near future.”

The change impacts the manufacture of one product and results in the loss of two employees.

Rua recently released its Market Insights for 2023, which provides an overview of key markets Rua is focused on, both overseas and here in Aotearoa.

[Lego_Man]

Is this a negative spun into a positive??

https://www.nzx.com/announcements/408924

Rua Bioscience (NZX:RUA) announces the export-led company will cease local GMP manufacturing and accelerate its global brand strategy, building its international product pipeline while developing valuable points of difference in the areas of genetic discovery and novel product development. Working with manufacturing partners, Rua expects New Zealand patients will ultimately benefit from a wider range of affordable medicines.

CEO, Paul Naske, says Rua has been actively exploring where true value lies in the medicinal cannabis industry, where the company’s unique strengths can propel it, and how Rua can best serve the needs of patients and investors.

“To capture value and encourage growth we will focus on our key strengths – leveraging our global-scale supply agreement and established sales and marketing partnerships across Europe to build a sustainable global company, while our world-class cultivation team in Ruatorea works on unique genetics for our established and future product pipelines.”
Rua has focused on the high-growth European medicinal cannabis market, which is expected to be worth as much as NZ$3.9b by 2026 [1]. The company has significantly advanced plans for market entry in Germany, is positioning itself as an early mover in Poland, and investigating other emerging medicinal cannabis markets with the support of its European partners Nimbus and Motagon.

Chairman, Trevor Burt, says the Board believes this refinement is consistent with Rua’s founding strategy and reflects the benefit of Rua’s capital-efficient approach, which allows Rua to move with relative agility at global scale.

“As an export-led company, we have advanced negotiations in high-value European markets and are now assessing commercial opportunities in Australia, an exciting market right on our doorstep; our intellectual property strategy maintains its focus on plant discovery and breeding, and the formulation of unique finished products; and we remain committed to building a sustainable business that creates intergenerational opportunity in Te Tairawhiti,” he says.

Mr Naske says, the company will retain its focus on the supply of GMP-certified medicines and expects to do this in a more cost-effective and expedient way, particularly for New Zealand patients.

“Rua will work with manufacturing partners to build out our product portfolio while developing branded products utilising our internally developed IP.”
In the meantime, Rua is planning for continuity of supply for New Zealand patients.

“There is ample stocks of Rua medicine (with the appropriate shelf life) available through Rua’s distributor, with stock ring-fenced for patients on Rua’s compassionate access programme. The company remains committed to developing a domestic product pipeline, ensuring prescribers and patients have access to medicines, and will update prescribers with those details in the near future.”

The change impacts the manufacture of one product and results in the loss of two employees.

Rua recently released its Market Insights for 2023, which provides an overview of key markets Rua is focused on, both overseas and here in Aotearoa.


The announcement is complete jibberish really. The original thesis about growing quality cannabis in the East Coast, supporting the local economy and diversifying our horticultural economy, has been completely invalidated.

The company is a joke at this point and should probably de-list. I don't see that there is any value there.

[ralph]

[QUOTE=Lego_Man;997180]The announcement is complete jibberish really. The original thesis about growing quality cannabis in the East Coast, supporting the local economy and diversifying our horticultural economy, has been completely invalidated.

The company is a joke at this point and should probably de-list. I don't see that there is any value there.[/QUOTE




To true Leggo man if the cannabis had been made legal as the greens wanted then this company would have prospered along with shareholders ,gawd help anyone who did not get out after that I P O

[Sideshow Bob]

Revenue up also 15x last year!! :t_up:

Although last year was only $24,226......:sleep:

Still lost $6m......;)

But have a deal targetting Poland and Czechnia!! :t_up:

https://www.nzx.com/announcements/417246

[Joshuatree]

Good move
"First of its kind, a cultivation licence has been granted for research into an indigenous magic mushroom that is hoped to be able to help those suffering from methamphetamine addiction.

The Ministry of Health granted the licence for Psilocybe Weraroa, a variety of mushroom that contains psilocybin, the active ingredient in magic mushrooms.

Psilocybin is an illegal Class A substance under the Misuse of Drugs Act, but the Director-General of Health can grant licences for research or medicinal purposes.

The licence is held by Rua Bioscience, a biopharmaceutical company based in Tairāwhiti, and is a crucial piece of the puzzle in a collaboration with a long-term goal of helping whānau affected by methamphetamine and other addictions."

[HITMAN]

You'd think they'd focus on their core business, getting product to market and increasing sales, once profitable play however they want, but until then the shareholders funds shouldn't be wasted.

[deez_nutz]

I dont know if its really a waste of funds - mushrooms are probably not too difficult to grow - they already have the facilities for growing in controlled environments, so id imagine there wouldnt be too much more needed in terms of investment. I think this is a really good play, and it actually leverages using NZ native species, unlike the cannabis industry where the "local genetics" definitely arent NZ native - plus cannabis is a highly saturated industry with a race to the bottom for pricing. This is much more refreshing news copmpared to cannasouth revealing they need to cut 400k of spending in order to survive (despite keeping their top heavy exec and board structure since eqalis took them over)

[kiora]

"The Next Big Addiction Treatment"
https://www.nytimes.com/2022/03/31/well/mind/psilocybin-mushrooms-addiction-therapy.html

[Sideshow Bob]

https://www.nzx.com/announcements/427120

HY results.

Still a hard road. Ignoring all their "strategic expansion" & " notable growth initiatives"......have to look at 'revenue from contracts with customers' and for the 6 months was $16,988.

That isn't $16,988 ('000s). Just $16,988.00.

Price down 4.4% and the ski slope continues. ;)

[shareman]

https://www.nzx.com/announcements/427120

HY results.

Still a hard road. Ignoring all their "strategic expansion" & " notable growth initiatives"......have to look at 'revenue from contracts with customers' and for the 6 months was $16,988.

That isn't $16,988 ('000s). Just $16,988.00.

Price down 4.4% and the ski slope continues. ;)

That's better than GFI.NZX, at least their auditors haven't quit on them

[kiwical]

RUA gains approval to expand their research into magic mushrooms. Maybe something will come of that given that cannabis doesn't seem to be doing much amongst the NZ companies.

https://www.ruabio.com/news/psilocybin-mushroom-programme

[Toddy]

Is it full moon already.

When is the next cap raise for the faithful.

[Sideshow Bob]

Hasn't helped their share price.

Maybe their 1st exports to Ko Phangan?? :confused:

[Toddy]

Trying to make sense of this Company.

Revenue for the 6 months end Dec $16,988.00.
Big legal bills coming up due to Cann pulling out.
Goodwill is massive at 2.2m. Not sure if the rules of having this on your balance sheet when you don't earn revenue.

Zero financial forecast released with the interim accounts.

Maybe Shane Jones likes mushrooms. But based on the Governments books at the moment I'm guessing that train has already left the station.

[nztx]

Trying to make sense of this Company.

Revenue for the 6 months end Dec $16,988.00.
Big legal bills coming up due to Cann pulling out.
Goodwill is massive at 2.2m. Not sure if the rules of having this on your balance sheet when you don't earn revenue.

Zero financial forecast released with the interim accounts.

Maybe Shane Jones likes mushrooms. But based on the Governments books at the moment I'm guessing that train has already left the station.


Their mates over at CBD don't appear to be fairing much better - another load of Borrowing Notes & scraps going on out back ;)


At least this one appears to be exercising a more conservative approach than CBD .. Recognising impearments, no large scale borrowings, no borrowing to buy a competitor with a bucket of cash on the target's books to rescue things for a mere 6 months or so.

On that basis RUA seems to score a few more brownie points .. even if getting the stuff out in any quantity
appears to be problematic with other challenges added in like chasing a wallaby around the paddock from a great distance after it got off the short leash :)

[Sideshow Bob]

Just reminding the market they are there and still working away.....

https://www.nzx.com/announcements/428832

Tairawhiti, New Zealand – Rua Bioscience is continuing to expand its offering in Australia, one of the largest medicinal cannabis markets in the world.
With company licences and distribution channels established in 2023, Rua successfully launched into this key market last September with a dried flower product.
It has now extended the range with the introduction of full spectrum oil products and liquid vaporisation cartridges.
“Australia has always been an important focus for us,” said CEO Paul Naske.
“Now that we have a broader range of products available in Australia, we are well positioned to develop a strong sales presence and build the Rua brand there.”
This push into Australia is supported by Rua’s recent appointment of their first Australian-based Chief of Sales and Marketing, to drive growth and market share.
“Rua’s strategy is to commercialise our unique genetics on a global scale,” added Mr Naske. “In the coming months, we’re aiming to launch a range of medicinal cannabis products using our New Zealand genetics into the Australian market.”