Tairawhiti, New Zealand-based Rua Bioscience has received a retail license to grow and supply cannabis-derived medicines. On Thursday, the company announced it is planning an initial public offering to list its shares on New Zealand’s Exchange (NZX). Tairawhiti officials anticipate the IPO will occur in the last quarter of 2020. Board Chair, Trevor Burt said in a press release, “with New Zealand’s medicinal cannabis industry still in its infancy, Rua Bioscience is focused on a ‘doable’ export strategy to drive revenue over the next three years by making our first material sales through wholesale exports of dried cannabis flower to Germany.” Furthermore, the company says it has a binding sales agreement with German distributor Nimbus Health.
Marijuana Business Daily, 08/19/2020 13:48:23