Rua Bioscience has announced a rights share offer to eligible shareholders as part of its expansion plans into its markets. Photo / Josie McClutchie
Rua Bioscience has announced a rights share offer to eligible shareholders as part of its expansion plans into its markets. Photo / Josie McClutchie
Rua Bioscience aims to raise up to $2 million in a rights offer for shareholders to help fund expansion plans into markets for its medicinal cannabis product range.
The offer, announced this week, will allow all eligible shareholders to purchase one new share for every three existing shares at anissue price of $0.025 per share.
The Ruatōria-based medicinal cannabis company was listed on the NZX, the New Zealand stock exchange, in 2020, debuting at 70c a share. The current stock price is about 3c a share.
“If the offer is fully subscribed, and alongside proceeds from the anticipated sale of our Gisborne property, Rua expects to be in a strong position to reach financial self-sustainability,” a Rua Bioscience statement said.
“This offer comes at a pivotal time for Rua. We are now generating meaningful revenue across Germany, Australia, and Aotearoa New Zealand – with FY25 [the last financial year] revenue of $1.9 million, up from $322,000 in FY24."
The company said sales for the first quarter of FY26 were already at record levels.
Rua Bioscience chief executive Paul Naske. Photo / Strike Photography
“We’re forecasting continued growth, with expectations to exceed $3 million by FY26.
“The funds raised through this offer will support working capital and marketing activities to help us expand our product range and strengthen our international presence, particularly in Germany, Australia, the UK and Czechia.”
“We are proud of the progress Rua has made – built on innovation, integrity and our deep commitment to whānau and community," the statement said.
“We see this next phase as an opportunity to continue growing a sustainable, globally respected medicinal cannabis company grounded in Māori values and driven by purpose.”
