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Thursday, Feb 22, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Cannabis

New Zealand’s Rua Bioscience provides unique cannabis genetics to Ontario’s Apollo Green

East Coast Tairawhiti cultivars will be grown in Canadian soil

New Zealand's Rua Bioscience provides unique cannabis genetics to Ontario's Apollo Green
Pete from Rua enjoying his time with some of the plants in November. Photo credit: Rua Bioscience

A New Zealand medical cannabis company is providing its unique genetics to an Ontario operator so that it can grow and distribute exotic pot from the east coast of Tairawhiti to Canadians.

Māori-founded Rua Bioscience (NZE: RUA) announced Wednesday that it will send those genetics to Apollo Green. The subsidiary of Australia’s Biortica Agrimed runs a cannabis nursery near Ottawa specializing in rare and foreign cultivars.

“This is more than just an agreement; it’s a bridge connecting New Zealand’s exceptional cannabis genetics to the world,” Rua CEO Paul Naske said. Apollo will add Rua’s cultivars to a vast genetic library with over 1,000 varieties of plants.

Apollo’s business development director Oisín Tierney told Stratcann that the company was very excited about the new arrangement.

“Ultimately, at Apollo Green we’re on a mission to offer cultivators curated phenotypes from reputable breeders from all over the world,” Tierney said. “Our ultimate goal is to be a one-stop shop for unique genetics for the commercial market.”

New Zealand's Rua Bioscience provides unique cannabis genetics to Ontario's Apollo Green

Pete and another Rua worker examining some of the outdoor grown. Photo credit: Rua Bioscience

Read more: Jones Soda partners with Tilray to bring its cannabis-infused pop into Canadian market

Read more: Māori group receives first psilocybin cultivation license in NZ to treat substance use disorders

Indigenous-founded, socially focused

Rua describes itself as New Zealand’s only medical cannabis company with an explicit focus on social impact: “We’re a unique collective of dual forces: science and nature, land and people, commerce and community, modern innovation and ancestral wisdom.”

The New Zealand operator has supply agreements with Germany’s Nimbus Health and the European medical cannabis operator Motagon. The company aims to enter the Polish, Czech Republic and United Kingdom markets this year.

Rua generated just shy of C$300,000 in customer revenue last year and has assets valued at about C$16.8 million.

The grower recently received New Zealand’s first-ever psilocybin cultivation license. The studies will focus on the Psilocybe Weraroa variety of psilocybin mushrooms native to New Zealand.

Once in-human trials are approved, Rua aims to treat individuals in the country suffering from methamphetamine addiction.

 

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