Rua Bioscience is considering its legal options and working on an alternate purchase plan after not receiving settlement funds for the sale of its Gisborne manufacturing facility.
The $1.3 million contract with Awa Ora Genesis Kaitiaki Harakeke Trust of Te Araroa was due to be paid in full by 5pm on Oct 30, 2024.
Rua Bioscience said the trust has assured them of its intention to complete the purchase but has requested more time before settlement.
The company said it would provide further updates to the market as new information came to hand.
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