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

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Announcement PDF