Organto Foods Inc - OGOFF STOCK NEWS

Organto Foods Inc. closes a private placement, selling 5,750,000 common shares at CDN $0.10 per share, generating proceeds of CDN $575,000. Steve Bromley, the Chair and Co-CEO, acquired 5,150,000 shares in the transaction. The private placement is considered a related party transaction. The company did not file a material change report 21 days before the closing due to last-minute details. Mr. Bromley's ownership increased to 18.40% of issued common shares post-transaction. The common shares are subject to a four-month hold period. The net proceeds will be used for critical working capital needs.

Organto Foods Inc. arranges a private placement of 5,750,000 common shares at CDN $0.10 per share, generating proceeds of CDN $575,000. The transaction involves the Chair and Co-CEO, Steve Bromley, subscribing for 5,150,000 common shares. The Private Placement is considered a related party transaction under MI 61-101. Mr. Bromley's ownership in the company will increase significantly post-transaction. The closing is subject to TSX Venture Exchange approval, with the net proceeds intended for critical working capital needs.

Organto Foods Inc. announces approval of amendments to reduce debt and increase equity. Debentureholders approve conversion of 50% of debentures into common shares at $0.30 per share. Remaining 50% to have extended maturity dates and deferred interest payments.

Organto Foods Inc. (TSX-V:OGO)(OTCQB:OGOFF), a leading provider of organic and non-GMO fruit and vegetable products, announced plans to strengthen its balance sheet and continue its path to positive EBITDA in 2024. The company has experienced sustained growth over the past five years, growing sales from approximately $1.5 million in 2018 to approximately $28.0 million in 2023, representing five consecutive years of sales growth versus the prior year and nineteen consecutive quarters of sales growth, currency adjusted, versus the same quarter in the prior year. The company continues to see numerous growth opportunities as consumers focus on healthy eating and healthy living and is targeting continued growth driven by a combination of internal growth and acquisition. Organto continues to leverage its positioning in the organic foods value chain connecting growers around the world with premium markets, while at the same time having a positive ESG impact. The company is working with its existing convertible note and debenture holders to convert a portion of the existing Convertible Notes and Convertible Debentures into common shares of the Company, targeting to realize a significant reduction in convertible debenture debt on its balance sheet and a corresponding increase in equity of the Company. The company also plans to complete a $2.0 million private placement of common shares early in 2024, with current insiders and strategic investors indicating an interest to acquire approximately 75% of the equity to be issued.

Organto Foods Inc. (OGO) provided an update on its common share private placement financing, raising a total of CDN $758,000 through the sale of 2,296,970 common shares at a price of CDN $0.33 per share. The company also secured further commitments for CDN $575,000 to be closed in further tranches. The proceeds will be used for funding growth initiatives and general working capital purposes.

Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF)(FSE:OGF) achieved the largest third quarter sales and gross profit in the company's history. Sales increased by 40% to $6,383,743 and gross profit increased by 230% to $549,982 in the third quarter of 2023. Year-to-date sales increased by 29% to $21,468,662 and gross profit increased by 87% to $1,960,030. The company aims to achieve positive EBITDA during fiscal 2024.

Organto Foods Inc. (OGO) Expects Strong Sales and Gross Profit Improvement

Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF)(FSE:OGF) Announces Non-Brokered Private Placement to Raise up to CDN $2.0 million for Growth Opportunities

Organto Foods Inc. has entered into a strategic partnership with Alpasa Farms S. De R.L. de CV to expand their operating platforms in North American and European markets. The partnership will focus on sales expansion, sourcing expansion, collaborative branding efforts, and implementing digital AI for traceability and supply chain efficiencies. Both companies are committed to sustainable and transparent organic farming practices.