Results of rights issue ~$1.2m

Kia ora tatou,

The rights issue raised approximately $1.2 million, comprising entitlements and oversubscriptions taken up by existing shareholders in addition to a small number of new shareholders who participated through the shortfall.

Our Chair, Anna Stove commented “On behalf of the Board and the Rua Bioscience team, I would like to thank our shareholders for their continued support.”

 “While the $1.2m raised is a strong vote of confidence from existing shareholders, this is part of an ongoing journey.  The majority of the proceeds will be used to fund working capital to grow sales.  The Board remains confident in securing additional funding through the placement and are also vigorously pursuing new options for the sale of the Gisborne manufacturing facility.”

 Rua Bioscience remains committed to its export-led growth strategy, leveraging its expertise in unique genetic development and international partnerships to deliver high-value medicinal cannabis products to patients.