Roto-Gro International, the Canadian hydroponic grow system manufacturer, recently debuted its stock on the Australian Stock Exchange. Australia was one of the more recent dominoes to fall in the spread of medical marijuana legalization. Looking to capitalize on the opportunity, Roto-Gro sought approval from the Australian Securities Exchange Commission and in February their IPO opened for trading.
Roto-Gro, based out of Ontario, manufacture a rotary hydroponic system. Similar to how vertical cultivation systems work, plants line the inner side of a rotary cylinder with a single light source in the middle. According to Roto-Gro, their system provides more uniform lighting which in turn results in better yields through maximizing flower site exposure. They are completely soil-less and can be used to cultivate up to 420 plants at a time. Roto-Gro is currently banking on widespread adoption in the burgeoning Australian medical market.
Their stock, RGI debuted on the ASX at 21.5 cents, around 8% over the initial public offering price. Today their stock has risen to 30 cents, showing an average daily gain of around 3.45%. Tech companies like Roto-Gro are the pick and shovel dealers of the modern day gold rush that is going on all over the world. The acceptance of Roto-Gro onto the ASX is not only a statement about their value in the industry, but about the role that the Canadian cannabis industry as a whole is assuming in the global marketplace.
Cory Hughes is a former police officer turned cannabis cultivator and writer. After years of being on the wrong side of the law, Cory decided to hang up his badge and gun and move into an industry that truly has the potential of bringing people together. He has been an active part of the Colorado cannabis culture and has worked as a horticulturist in dozens of licensed grow operations. Cory now looks to share his knowledge of cultivation and horticulture with the world.