Rua Announces Sales of Gisborne Manufacturing Facility

Tairawhiti, New Zealand – Rua Bioscience has entered into an agreement for the sale of its Gisborne manufacturing facility for $1.3 million. The sale is conditional upon assignment of the underlying land lease which is expected to occur.

This strategic move, as previously signalled, aligns with Rua's ongoing commitment to adopting a capital-light business model by outsourcing commercial manufacturing and cultivation, enabling the company to focus on genetic research, development, and global distribution.

The sale to a Tairawhiti based group supports Rua's strategy to streamline operations and reinforce its focus on developing unique cannabis-based medicines for export markets.

Rua continues to advance its mission of creating medicinal cannabis products that change lives, with a focus on sustainable growth and social impact in the communities of Te Tairāwhiti.

ENDS  
 
The person who authorised this announcement:
Paul Naske
Chief Executive Officer
[email protected]
+64 21 445154

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Announcement PDF