Rua Bioscience seeking cash

Rua Bioscience is looking to raise money for current activity. (Image: Supplied)

Wed, 06 Nov 2024

Rua Bioscience is looking to generate up to $3.1 million in a capital raise to meet its immediate cash flow requirements. The medicinal cannabis company is also expecting proceeds from the sale of property in Gisborne will help fund working capital. The issue price under the rights offer is $0.025, a 47.9% discount to the 5-day volume weighted average price of Rua shares up to Nov 5, 2024. Shares were trading at highs of $0.7 in 2020. An investor presentation released today read: "Along with expected proceeds from the Gisbor...

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