Update on Canniberia Agreement
Roto-Gro International Limited (ASX:RGI) (“RotoGro” or “Company“) refers to its announcement dated 4 October 2021 in relation to reeipt of an initial purchase order from Canniberia LDS (“Canniberia“) in the amount of CAD $1.039 million for the first phase of technology orders, pursuant to a Purchase and Sale Agreement between the Company and Canniberia for the purchase of 144 RotoGro Rotational Garden Systems and 1 RotoGro Plant Nutrient Management System at a total purchase price of CAD $1,904,000 (“Agreement“).
The Company notes that as a result of administrative delays due to COVID-19, it agreed to grant an extension of the date for payment of 50% of the initial order to 15 December 2021. The Company advises that this payment has not been received to date, however it maintains close and continuous communication with Canniberia, who remains committed to working with RotoGro under the Agreement.
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