Rua Bioscience approves Convertible Note Facility

The Board of Rua Bioscience have approved a convertible note facility offered to wholesale lenders for the purchase of inventory to accelerate sales growth. As Rua Bioscience expands globally, the requirements for working capital has increased. This facility provides for up to a maximum of $600k additional capital for the purchase of inventory for sales growth. The key terms of the convertible note are: • Interest bearing for up to 12 months. • Unsecured. • Converts to fully paid ordinary shares following either: o after a 12-month period at the Company's option, or o automatically on the occurrence of a capital raise within that 12-month period raising more than $1.5mill. • Converts at a rate of the lower of $0.025 per share, or the issue price available should a capital raise occur. If the facility is fully drawn and converted at NZ$0.025 per share, approximately 24,000,000 new ordinary shares would be issued (excluding accrued interest). Strategic alignment with growth objectives This convertible note facility is a pivotal part of Rua growth strategy, and is in particular aimed at accelerating its market penetration into the UK following the recently announced sales and distribution agreement. ENDS     Paul Naske Chief Executive Officer paul.naske@ruabio.com +64 21 445154