RLF AgTech (ASX:RLF) obtained short-term funding worth AU$700,000 via the placement of 7,000 unsecured convertible notes to a group of institutional, professional, and sophisticated investors, according to a Wednesday filing with the Australian bourse.
The notes will mature on Sept. 30, with an option for early redemption. The conversion price is AU$0.06 per share.
Proceeds will support the crop nutrition company's near-term operational priorities, particularly its inventory requirements for the upcoming March to July sales period amid higher stock requirements from China.
RLF AgTech's shares were up 5% in recent Wednesday trade.
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