Welcome to our dedicated page for Organto Foods news (Ticker: OGOFF), a resource for investors and traders seeking the latest updates and insights on Organto Foods stock.
Organto Foods Inc. supplies certified organic and fairtrade produce to international retailers through a model built around global sourcing, logistics, and distribution. Company news commonly covers European retail programs, grower and supply partnerships, logistics capacity, and the expansion of its fresh produce platform.
Updates also address audited financial results prepared under IFRS, financing facilities for European foods operations, warrant exercises and other capital actions, leadership appointments, marketing and market-making engagements, and participation in fresh produce industry events.
Organto Foods announced the completion of selling three wholly-owned Dutch subsidiaries—Organto Europe BV, Fresh Organic Choice BV, and BeeOrganic BV—to an independent third party. This divestiture aims to streamline operations, improve financial stability, and enhance profitability. The transaction was completed on an arm's length basis, with the purchaser acquiring the subsidiaries for €1 while assuming all their assets and liabilities, amounting to a net liability of approximately C$4 million. The purchaser gains rights to assets like cash, accounts receivable, inventories, and trademark rights, while also taking on liabilities such as accounts payable and leasehold obligations. Organto retains key subsidiaries, including NFG New Fruit Group GmbH, its core entity for organic products in Europe.
Organto Foods has provided an updated status regarding its management cease trade order (MCTO) linked to the delayed filing of its 2023 annual financial statements. The British Columbia Securities Commission granted an extension of the MCTO until July 15, 2024. This order restricts the trading activities of certain company executives but does not affect shareholders. The company and its auditors are working to complete the filings promptly. No new material changes or additional defaults have been reported since the last update on July 3, 2024.
Organto Foods, a provider of organic and non-GMO fruit and vegetables, has updated the status of its management cease trade order (MCTO). Granted on May 1, 2024, by the British Columbia Securities Commission, the MCTO was extended to July 15, 2024, due to audit delays for the year ending December 31, 2023. The MCTO affects the trading activities of the CEO, former Co-CEO, and CFO but does not impact shareholder trading. Organto and its auditors are working to complete the filings promptly. The company has adhered to regulatory guidelines and confirmed no additional material changes or defaults.
Organto Foods has issued a bi-weekly update on the status of its delayed annual financial statements for the year ended December 31, 2023. The delay led to a management cease trade order (MCTO) granted by the British Columbia Securities Commission on May 1, 2024, preventing the company's Co-CEOs and CFO from trading until the filings are complete. Shareholders are not affected. Organto expects to finalize the filings by June 28, 2024, and will issue bi-weekly updates until then. Additionally, Rients van der Wal has resigned as Director and Co-CEO to pursue another career opportunity. Steve Bromley remains as Chair and CEO.
Organto Foods announced the sale of three European subsidiaries—Organto Europe, Fresh Organic Choice, and BeeOrganic—to an independent purchaser for 1 Euro. The transaction aims to streamline operations, improve financial stability, and enhance the company's path to profitability. These subsidiaries represented a net liability of $4.2 million as of March 31, 2024. NFG New Fruit Group GmbH will become Organto's key operating entity. An independent valuation by Evans & Evans concluded that the liabilities assumption by the purchaser provided fair proceeds to Organto. The sale supports Organto's strategy to focus on organic and non-GMO products while improving its balance sheet.
On May 29, 2024, Organto Foods, a key provider of organic and non-GMO fruits and vegetables, updated stakeholders on its delay in filing annual financial statements for the year ending December 31, 2023. The British Columbia Securities Commission granted a management cease trade order (MCTO) on May 1, 2024, barring the Co-CEOs and CFO from trading company securities until the filings are completed. This does not affect shareholder trading. Organto aims to finalize and file the documents by June 28, 2024, and will issue bi-weekly updates until then. The company confirms no material changes or insolvency issues since their initial announcement.
Organto Foods provides an update regarding the delay in filing its annual financial statements for the year ending December 31, 2023. The British Columbia Securities Commission granted a management cease trade order (MCTO) on May 1, 2024, which restricts the Company's executives from trading company securities until the filings are completed. This does not affect shareholder trading. Organto expects to finalize the filings by June 28, 2024, and will issue bi-weekly updates until compliance is achieved. The Company assures no material changes since the previous announcement.
Organto Foods Inc. (TSX-V:OGO)(OTCQB:OGOFF) has been granted a management cease trade order by the British Columbia Securities Commission, allowing investors to continue trading shares but restricting the company's Co-Chief Executive Officers and Chief Financial Officer from trading until the annual financial statements are filed. The delay in filing is due to personnel changes, with the company aiming to finalize the documents by June 28, 2024. Organto will follow alternative information guidelines until then, ensuring compliance with regulations.
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