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RUA BIOSCIENCE MARKET ANNOUNCEMENT FOR PUBLIC RELEASE NZX Limited Wellington 26 February 2021 Rua Half - Year Result – Company Progressing Strategy , On Track Against Milestones Highlights H1 2020-21 : • July - Signed binding exclusive New Zealand supplier sales agreement with major German pharmaceutical wholesaler , Nimbus Health for Rua to supply pharmaceutical grade medicinal cannabis products . August - Granted commercial licence to grow and supply cannabis derived medicines . • August - Signed supply agreement with cultivation partner , Medbloom to grow and supply Rua with cannabis plant material . October - Commissioned cultivation centre in Ruatorea . October - Rua listed on NZX , raises $ 20 million in IPO . • • November - Rua began its GMP certification process with the audit of its manufacturing facility in Gisborne by MedSafe . Rua Bioscience ( NZX : RUA ) Rua announces its half - year financial results for the six months to 31 December 2020 . The operating loss for the six months to 31 December 2020 was $ 3.48m . Cash on hand was $ 19.2m and investment in property , plant and equipment was $ 6.23m . The result was in line with the company's expectations for the half - year . Investment made by the company reflected its strategy to invest in focussed areas to deliver initial revenue through the first export sales of pharmaceutical grade dried cannabis flower to Germany . During the period , the company achieved key milestones in its strategy , including a successful Initial Public Offering ( IPO ) and listing on the NZX Main Board on 22 October 2020. The IPO was oversubscribed and the company raised the full amount of $ 20 million . Rua Chief Executive , Rob Mitchell said Rua Bioscience has an achievable export strategy to provide a clear path to revenue . “ I am pleased to report that Rua progressed well against its key milestones in this period , and is on track to meet its objectives this financial year . " Funds raised from the IPO have been deployed across strategic priority areas that underpin achieving initial sales and revenue . Rua Chief Financial Officer , Hamish White said " As a pre - revenue company , we have taken a conservative approach to financial planning and management against our strategic priorities to minimise cash burn and maximise return for every dollar we spend . " PO Box 1387 , Gisborne 4040 , Aotearoa New Zealand | 0800 RUABIO | www.ruabio.com