- Roots Sustainable Agricultural Technologies (ROO) has entered a trading halt pending a capital raise announcement
- Company shares will remain in a trading halt until the capital raise is announced no later than December 10
- While it is unclear how much it will raise or exactly what the money will be used for, Roots has a number of exciting things in the pipeline
- Recently, the agri-tech stock secured a $58,000 sales contract for its technology from an Israeli medicinal cannabis farm called My Green Fields
- Roots has also benefitted from a recent UN decision to declassify cannabis to the least dangerous drug category
- Prior to the trading halt announcement, shares in Roots last traded at 2.7 cents
Roots Sustainable Agricultural Technologies (ROO) has entered a trading halt pending a capital raise announcement.
The company will remain in a trading halt until the capital raise is announced which will be no later than December 10.
Roots has stated it is not aware of any reason why the trading halt should not be granted.
At this stage, it is unclear how much Roots will raise or what it will use the money for.
In others news, Roots has just secured a $58,000 sales contract for its Root Zone Temperature Optimisation technology from My Green Fields, which is an Israeli medicinal cannabis farm.
Roots will deploy over 1000 heat exchange probe units to improve the farm’s current cannabis plant yield. The company is expanding into the Middle East following Israel’s recent peace deals with the UAR and Bahrain.
Roots has also benefitted from a recent UN decision to declassify cannabis to the least dangerous drug category. The move symbolises a steady relaxation of legislation surrounding the substance and a potential increase in business activity.
Prior to the trading halt announcement, shares in Roots last traded at 2.7 cents on December 7.