Australia's Roto-Gro International hits near 6-mth high on A$10 mln licensing deal

Healthcare Solutions Management

02/12/2020 24:54

** Shares of cannabis cultivator  RGI.AX  rise as much as
41.4% to A$0.082, their highest since June 10 
    ** Co executes A$10 mln ($7.38 mln) agreement with
agriculture co Verity Greens, Inc 
    ** RGI to grant manufacturing and tech licences to  Verity
Greens for cultivation of perishable foods   urn:newsml:reuters.com:*:nASX7B2h
    ** Deal, for initial term of 20 years, provides RGI with a
foothold in expanding indoor urban vertical farming space
    ** Stock marks biggest intraday pct gain since Nov. 25 and
is on track for second consecutive session of gains 
    ** About 17 mln shares change hands vs 30-day average of 3.1
mln shares 
    ** Stock down ~51.7% this year, as of last close 

($1 = 1.3543 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))