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- Roots Sustainable Agricultural Technologies (ROO) enters a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until December 13 or when more details are released, whichever occurs first
- On November 26, Roots announced it had signed a Letter of Intent with irrigation system specialist Cherry Irrigation SA
- Under the partnership, Roots will market, sell and install its Root Zone Temperature Optimisation and Heat Exchange Probe technologies in South Africa and Namibia
- Shares in Roots last traded at 0.8 cents on December 8
Roots Sustainable Agricultural Technologies (ROO) has entered a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until December 13 or when more details are released, whichever occurs first.
Roots is yet to disclose how much it intends to raise or what the funds will be used for.
On November 26, Roots announced it had signed a letter of intent (LOI) with irrigation system specialist Cherry Irrigation SA.
Cherry specialises in the design and installation of irrigation, automation and fertigation systems in the Southern African region.
Under the LOI, Roots will market, sell and install its Root Zone Temperature Optimisation and Heat Exchange Probe technologies in South Africa and Namibia.
This partnership marks Roots’ first entry into Africa and gives the company a significant opportunity for entry into South Africa’s blueberry and cannabis markets.
Shares in Roots last traded at 0.8 cents on December 8. The company has a $4.71 million market cap.
