RotoGro (AXS:RGI) secures $1.9 million order for Canniberia’s Portugal facility

Agriculture

ASX:RGI MCAP $7.389M

CEO, Adam ClodeSource: HotCopper

• RotoGro (RGI) has secured a $1.9 million purchase order for its rotational garden and plant nutrient management systems via its subsidiary, from Canniberia (Portugal)
• Canniberia is working to establish a facility in Moura, Portugal, to cultivate cannabis for high-grade medicinal products
• The facility would be the first commercial operation using RotoGro's products in Europe
• Given Canniberia is granted a cannabis cultivation pre-licence, RotoGro will supply 72 Garden Systems and one Fertigation System under phase one of construction for $1 million
• Under the second phase, RotoGro will supply a further 72 Garden Systems, bringing in $900,000 in sales revenue
• Shares have been trading 5.6 per cent higher at 4.7 cents

Read the full article on The Market Herald here: https://themarketherald.com.au/rotogro-axsrgi-secures-1-9-million-order-for-canniberias-portugal-facility-2020-10-20/