RLG Expands Sales and Funding for Growth in New Product Segments

RooLife Group Limited (ASX: RLG) an e-commerce company, has formed a sales channel partnership with AULife, a China-focused e-commerce company. This partnership has opened up two new profitable product segments for RLG: Milk Powder and Dairy Food Products. In June, RLG generated $190,000 in revenue from the sale of Australian milk powder products, and in July, they received additional sales orders worth approximately $250,000 for dairy food products through the collaboration with AULife.

To fuel further growth, RLG has secured funding amounting to $600,000. This includes a Convertible Loan of $200,000 from shareholder Xiaodan Wu and unsecured loans of $400,000 from directors. The Convertible Loan carries an 8% interest rate and grants the lender 5 RLG shares for every $1 loaned. It has a term of 12 months and can be converted into fully paid shares at a rate of $0.025 per share.

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