Rua commences legal proceedings against Cann Group

Tairawhiti, New Zealand - Rua Bioscience has today served legal proceedings against Cannoperations Pty Ltd (Cann), a wholly owned subsidiary of Cann Group Limited in Australia, claiming damages for a breach of contractual rights to exclusively sell Cann's medicinal cannabis products in Australia. On 4 December 2023, Rua Bioscience announced that Cann Group had given 12 months' notice to terminate its existing supply contract, which is between Cann and Rua. The proceedings commenced by Rua in the Supreme Court of Victoria today are in respect of a claim by Rua that Cann has breached an exclusive supply term provided for in the supply contract. That exclusive supply term provides that Cann will supply specific medicinal cannabis products exclusively to Rua for re-sale in Australia and New Zealand during the term of the contract. Rua is of the view that these breaches have caused Rua to suffer significant damages. ENDS The person who authorised this announcement: Paul Naske Chief Executive Officer Paul.naske@ruabio.com +64 21 445154 For shareholder enquiries please visit www.ruabio.com or contact: info@ruabio.com 0800 RUABIO End CA:00426252 For:RUA Type:GENERAL Time:2024-02-15 11:47:23