Rua Announces Sales of Gisborne Manufacturing Facility

28
th
August 2024


FOR PUBLIC RELEASE

Rua Bioscience 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
paul.naske@ruabio.com
+64 21 445154