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RLF Secures Short Term Funding to Accelerate its Sales Expansion
RLF AgTech Ltd (ASX: RLF) (RLF or the Company) is pleased to advise that it has successfully completed a placement of 7,000 unsecured convertible notes (Notes) to a group of institutional, professional, and sophisticated investors, raising total proceeds of $700,000.
Key Highlights
- $700,000 raised through the issue of 7,000 unsecured Convertible Notes at a face value of $100 per Note Conversion price set at $0.06 per RLF share.
- Funding supports increased working capital expansion of Australian sales team and marketing as well as new application equipment for LiquaForce
- Funding also supports increased inventory requirements for the China business
- Matures on 30 September 2025 with the Company reserving the right to redeem earlier.
The funds raised will be used to support the Company's near-term operational priorities across both domestic and international markets, with a primary focus on inventory requirements for the upcoming March—July sales period. This short-term funding ensures the Company is well-positioned to meet current demand, with the capital typically returned by July or August in line with seasonal trading cycles.
In Australia, the Company has secured a greater number of distribution or supply agreements than initially forecast. The recent agreements have resulted in a national distribution reach that have over 500 locations. To support these agreements, the Company is investing in the deployment of sales and technical personnel, the development of marketing and agronomic support materials, and the delivery of comprehensive product training.
In China, stronger-than-anticipated sales have accelerated inventory requirements for the upcoming March—July sales period. This short-term funding enables the Company to meet this demand.
A portion of the proceeds will also be directed toward capital expenditure within the RLF LiquaForce business. Specifically, funds will be used to acquire variable rate liquid fertiliser application machinery. This equipment is expected to enhance application efficiency, reduce cost differentials compared to granular fertiliser systems, and strengthen LiquaForce's competitive position in key Queensland markets.
Click here for the full ASX Release
This article includes content from RLF AgTech, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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