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.
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Organto Foods has successfully closed the third tranche of its unsecured convertible debenture financing, raising $500,000 in gross proceeds. This financing is part of a larger fundraising effort that has generated total gross proceeds of CAD $1,033,000. The debentures carry a 10% annual interest rate and mature in December 2024, convertible into common shares at CDN $0.30 per share. If Organto's share price exceeds CDN $0.45 for 10 consecutive trading days, the company may accelerate conversion. The funds will support growth initiatives and general working capital.
Organto Foods has successfully completed the second tranche of its private placement of unsecured convertible debentures, raising $238,000. The debentures carry a 10% annual interest rate, maturing in February 2025, and can be converted into common shares at CDN $0.30 each. If Organto's shares exceed CDN $0.45 for 10 consecutive trading days, conversion may be accelerated. Total fundraising from this placement may reach $1.1 million. The funds will support growth initiatives and general working capital, pending final acceptance from the TSX Venture Exchange.