RotoGro International to raise $1.53M for vertical farming

RotoGro International (RGI) has received firm commitments to raise $1.53 million through a placement. More than 38.2 million fully-paid shares will be issued to professional and sophisticated investors at 4 cents each.

"This raise is an important step forward for RotoGro as the company welcomes a number of new shareholders to the register," Non-Executive Chairman Michael Carli commented. RotoGro has stated that it will use the money to rollout its perishable food and vertical farming divisions.

The company has developed a vertical farming system, using stacked instead of in horizontal rows. It is a hydroponic system, meaning it grows in warehouses without soil using less water.

For more information:
Roto-Gro International
Level 4, 96-100 Albert Rd
South Melbourne, VIC 3205
+61 (03) 9692 7245 

Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.

Click here for a guide on disabling your adblocker.