Shareholders Newsletter
Tena tatou e hika ma,
Kei te tata te hōtoke, ā, kei te rongo i te ngau o te tio, ahakoa tēnā kei te oke tonu matou kia tutuki i ngā hiahia o te kamupene me te iwi whānui.
With recent announcements about the launch of Rua Bioscience product in Germany, it is worth updating everyone as I know a number of you are keen to hear from us. We are sharpening our export-led strategy and beginning to deliver on establishing product pipelines that distribute our brand to international markets so we can change people’s lives right here in Te Tairawhiti.
Social Impact
We strive to make an impact. In the last 12 months we have handed out 11 scholarships to local rangatahi and supported 9 students attending an industry exposure trip to Auckland. Plans are in place to grant more scholarships this year.
Rua continues to operate its Compassionate Access Programme, providing funded medicinal cannabis products to patients with barriers to access. Since its inception, the Compassionate Access Programme as funded 56 patients with 280 bottles over 12 months in the Te Tairawhiti region.
We want to make a greater impact in our community, and we are planning to do just that.
Germany
The launch of the Rua branded products in the German market has exceeded our expectations, with initial feedback being very positive. Alongside Nimbus, Rua employs marketing staff in Germany that are rolling out a number of initiatives to tell our story. A small number of staff are travelling to Germany in late June to attend a launch event for doctors, pharmacists and industry to showcase the Rua products and Rua brand. Check out some of it online at the Nimbus website, Facebook and Instagram.
Australia
The launch plans for the Australian market are proceeding very well. We have recently signed a 2-year distribution agreement with an Australian company to handle all storage, distribution and compliance matters. We expect sales in the July to September period and are looking forward to entering this large, high growth market.
Poland
As mentioned in previous announcements, the dossier for product registration in Poland was submitted to the regulator. We have received confirmation of the submission from the Polish regulator and are now responding to questions from the regulator as part of the formal review process. We are working closely with our distribution partner in Czech Republic, Motagon. The Polish product approval process is expected to take approximately 12 months and revenue following soon after. The fact that we are on the journey and in communication with the regulators is exciting.
UK and Ireland
We are working on establishing pipelines in the smaller markets of UK and Ireland. We have identified two very promising distribution companies in each of the markets and signed Term Sheets which allow us to progress through to formal distribution agreements. We look forward to sharing some good news in each of these markets soon.
Hei konei rā mō tēnei wā, noho ora mai.
Paul Naske
Chief Executive Officer
