Roto-Gro International Limited has announced the completion of an Oversubscribed $3,581,552 Placement.
Roto-Gro is an Australian-based company with international operations, focused on the cultivation of lawful cannabis and perishable produce.
The ‘highly sought-after’ Placement is managed by Patersons Securities Limited and Baker Young Stockbrokers. This exciting development will allow for the expansion of Roto-Gro’s research facility and additional grow rooms in Canada.
A total of 16,658,380 new fully paid ordinary shares at an issue price of $0.215, will be issued with Shareholder approval, and a further 1,658,380 shares without Shareholder approval. The settlement is expected to occur on the 1st May 2019.
Managing Director of RotoGro, Michael Carli, claims Roto-Gro is revolutionary for the future of agriculture. “Our aspirations to be leading lawful cannabis and perishable food grower, drawing on our patented and patent-pending technology and proprietary growing management software, sets us apart from all other methods of growing.”