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Rua Bioscience Limited — Capital/Financing Update 2024
Dec 3, 2024
66262_rns_2024-12-04_db089e20-a44f-45d1-820e-8c69bc5139bd.pdf
Capital/Financing Update
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MARKET UPDATE
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FOR PUBLIC RELEASE
NZX Limited Wellington
4 December 2024
Rua Bioscience rights issue closes raising approximately $1.2 million
Rua Bioscience Limited (NZX: RUA) announces the successful completion of its 3 for 4 renounceable rights offer at an issue price of $0.025 per new share.
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.
Eligible shareholders subscribed for an additional 47,119,179 new shares including oversubscriptions.
As per the terms of the rights offer, Rua will now allow applications for the remaining shortfall shares in accordance with NZX Listing Rule 4.4.
The allotment and issue of, and trading in, new shares under the rights issue is expected to occur on Friday 6[th] December 2024.
Rua Bioscience 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 highvalue medicinal cannabis products to patients.
PO Box 1387, Gisborne 4040, Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com
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