Two Stocks Closing In Green On The ASX – RNO And RGI

stocks in green

Rhinomed Limited (ASX: RNO) operates as a medical technology company. The Company develops nasal, respiratory, and nasal drug delivery technologies. Rhinomed serves clients in Australia and the United States.

The company has inked a nasal drug delivery licensing deal with US-located Columbia Care at the end of September, which can be considered as an achievement and a milestone. This deal will result in the Rhinomed’s nasal platform being used by the Columbia Care to deliver various nasal medical cannabis formulations. The pact covers a portfolio of potential products across both consumer health and clinical verticals that would at first be sold through Columbia Care’s US-located dispensary network. The US is the single largest and the fastest growing cannabis markets in the world.

As per the terms of the agreement, Rhino med will make substantial modifications in its platform to deliver the cannabinoid formulations and hence supply the final product to the latter company. Columbia Care will manufacture and place specific pharmaceutical formulations onto the platform in its facilities in the U.S. Rhino med will continue to claim all the IPR’s, to its drug delivery platform.

The agreed revenue model will lead to Rhino med fetch a fixed cost plus a double-digit royalty fee on a per product basis. Moreover, Rhino med will also receive a further double-digit share of net profits that will vary based on the retail channel – with a greater share for product sold through its retail channels.

Meanwhile, the share price of the company has risen by 65.22 percent in the past six months as on 12 December 2018. Company’s shares traded at $0.195, up by 2.632% & with a market capitalization of circa $26.83 Million as on 13 December 2018 (AEST 04:00 PM).

Market Update

Roto-Gro International Limited (ASX: RGI) sells and manufactures hydroponically-based rotational growing systems. The Company offers training of operation and maintenance of the equipment and technical support. Roto-Gro International serves customers in Australia.

Regarding the recent updates, the Company has engaged Cannabis Compliance Inc. which is an eminent cannabis compliance firm to help the company with conversion and amendments to the Dealer’s Licence. This license would permit the processing and cultivation methods at a new 44,000 square ft: lawful cannabis facility located close to the Company’s existing research, development, and manufacturing facility in Caledon, Ontario Canada.

Also, the company continues with its growing trials for both perishable foods (produce) and legal cannabis at its state-of-the-art grow rooms. The Company has ordered the laboratory equipment required for the testing, scientific analysis and study of different plants and strains for both legal cannabis and perishable foods at its research and development facility located in Caledon, Ontario Canada. Installation of cabinetry and flumes is complete with benchtops and laboratory equipment to be installed once delivered.

Meanwhile, the share price of the company has risen by 36.11 percent in the past six months as on 11 December 2018. Company’s shares traded at $0.345 & with a market capitalization of circa $33.3 million as on 13 December 2018 (AEST 04:00 PM).


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