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Rua Bioscience Limited — Capital/Financing Update 2024
Oct 30, 2024
66262_rns_2024-10-31_092ed71f-6f34-4709-be3a-3d0de098b2c1.pdf
Capital/Financing Update
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MARKET UPDATE
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FOR PUBLIC RELEASE NZX Limited Wellington
31[st] October 2024
Update: Unconditional sales contract of Rua manufacturing facility
At the time of this release Rua Bioscience has not received the settlement funds from the the purchaser, Awa Ora Genesis Kaitiaki Harakeke Trust of Te Araroa, for the purchase of the Gisborne manufacturing facility.
The contract is for $1.3 mill and was due to be paid in full by 5pm yesterday, 30th October 2024.
The Board have received assurances from the Trust that they intend to complete the purchase of the property and have requetsed further time before settlement.
The Board is now considering their legal options in this situation and are also in parallel working with other credible parties on an alternate purchase plan.
The Board will update the market as soon as new information is received.
ENDS
The person who authorised this announcement:
Paul Naske Chief Executive Officer [email protected] +64 21 445154
PO Box 1387, Gisborne 4040, Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com