Medicinal cannabis company, Rua Bioscience announced it is seeking up to $20 million from investors. The announcement comes ahead of a sharemarket listing later in October. Rua Bioscience was founded in 2016 as a subsidiary of Hikurangi Enterprises, which aims to create economic opportunities for local communities. A portion of the capital raising was a priority offer of $5 million in shares to Tairāwhiti (East Coast) residents, and others closely associated with the business. The remaining $15 million worth of shares were allocated across retail brokers and a small number of institutional investors. Mark Lister, head of private wealth research at Craigs Investment Partners, said the offer was very small, compared with other businesses listed on the NZX.

Mmp News Author, Medical Marijuana Program Connection, 10/04/2020 20:33:14

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