RotoGro International (RGI) has secured firm commitments to undertake a $2.2 million placement. A total of 62,857,143 new fully paid ordinary shares will now be issued to institutional, professional, and sophisticated investors at 3.5 cents.
RotoGro will use the money to expand its presence in the vertical farming markets for the perishable foods and cannabis sectors. This will allow the company to further the research and design initiatives for its patented and exclusive cultivation technology.
CEO Michael Di Tommaso is excited to receive such strong support and is looking forward to growing the company. "We are extremely excited to have EverBlu manage the placement and are pleased to have generated remarkable support from our new investors," Mr. Di Tommaso commented.
"We remain focused on executing the company's initiatives with a view to solidifying our place as a leading technology supplier in the indoor vertical farming space while driving shareholder value."
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