- RotoGro International (RGI) has received firm commitments to raise $1.53 million through a placement
- More than 38.2 million fully-paid shares will issued to professional and sophisticated investors at 4 cents each
- Subject to shareholder approval, each share will have to attach options on a two-for-three basis
- RotoGro will also use the money from the fundraising to rollout its perishable food and vertical farming divisions
- Indoor vertical farms use fine-tuned LED lighting to provide light for photosynthesis, allowing plants to grow without exposed to pesticides
- On the back of this news, shares in RotoGro are up a healthy 30 percent and are trading at 5.2 cents
