The software developer behind Vitura Health’s flagship CanView platform is set to pull its technology from the ASX-listed firm after facing questions about its conduct.
Brisbane-based Code4 Cannabis (C4C) told Vitura it does not intend to extend its licensing agreement with the company beyond the existing contract’s expiry in August.
Vitura will now explore the possibility of acquiring the technology provider as it said it is entitled to do under the terms of a Services Agreement between the two firms.
It will also exercise a clause to continue to exclusively licence C4C’s software for a 15-month transition period beyond August until November 2025.
Details of the falling out remain sketchy but relate to questions raised by Vitura over what it called the “conduct” of C4C.
A statement said it had raised a “number of issues” with the software developer, but did not elaborate on what those issues concerned, or what conduct it was calling into question.
The challenge is understood to have led directly to C4C pulling the plug.
“Code4 Cannabis has notified… CanView that C4C does not intend to extend the Services Agreement pursuant to which Vitura exclusively licences software used as part of the CanView platform beyond its expiry date of 10 August 2024,” Vitura told the ASX.
In addition to enforcing the extended transition period – a clause that will see the companies work together until late 2025 – Vitura said it will “assess its options with respect to the CanView ecosystem, which may include implementing alternate software prior to November 2025 or exercising its option under the Services Agreement to acquire C4C”.
Vitura added that the agreement forbids C4C from licensing the software to any third party for 12 months after the end of the transition period until November 2026.
Both companies remained tight-lipped about the dispute.
C4C co-founder Guy Mckenzie said in a statement to Cannabiz: “It is disappointing that we could not extend the Vitura Services Agreement past its expiry. However, we do remain open to future discussions with the leadership of the day at Vitura.”
He declined to comment further.
Vitura chief executive Rodney Cocks also declined to comment.
