Organto Issues Settlement Shares to SuperRebel.com and Extinguishes Debt.
Vancouver, BC, Canada, May 18, 2017 – Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto”), announces that it has extinguished existing debt in the amount of €45,000 (CDN$62,500) by issuing 250,000 common shares (the “Settlement Shares”) at a deemed price of $0.25 per Settlement Share to a supplier of Organto, SuperRebel.com. The Settlement Shares were issued pursuant to a previously announced settlement agreement with SuperRebel.com dated April 25, 2017. The issuance of the Settlement Shares has been approved by the TSX Venture Exchange.
Organto Foods Inc. is a leading vertically integrated provider of value added fresh-cut, branded organic produce serving a growing socially responsible and health conscious consumer around the globe. Organto employs a business model that is integrated from the “table to the field”. Driven by consumer demand for healthy and organic food products, it operates an integrated business model with extensive logistical, processing and growing capabilities, providing complete traceability from the table back to the field. Operations are currently located in Guatemala, Argentina, the Netherlands and the USA, with plans to continue to expand year-round supply capabilities via strategic third party supply relationships. Organto’s business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people and its shareholders.
ON BEHALF OF THE BOARD,
Arnoud Maas, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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