In This Article:
VANCOUVER, BC and BREDA, NETHERLANDS / ACCESSWIRE / July 10, 2024 / Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF) ("Organto" or the "Company"), a leading provider of organic and non-GMO fruit and vegetable products, today provided an update with respect to its previously announced management cease trade order (the "MCTO") relating to the late filing of the Company's annual financial statements and accompanying management's discussion and analysis for the year ended December 31, 2023 (the "Annual Filings").
On May 1, 2024, the Company's principal regulator, the British Columbia Securities Commission (the "Commission") granted the MCTO. Due to delays in completing its Annual Filings, the Company was granted an extension of the MCTO by the Commission until July 15, 2024.
Under the terms of the MCTO, the Chief Executive Officer, the former Co-Chief Executive Officer and the Chief Financial Officer of the Company may not trade in securities of the Company until such time as the Company files the Annual Filings and the Commission revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.
The Company and its auditors continue to work diligently toward completing the Annual Filings as soon as practicable.
The Company confirms that since the last announcement regarding the status of the MCTO dated July 3, 2024: (i) other than as described above, there has been no material change to the information set out in the announcement that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company will comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release.
ON BEHALF OF THE COMPANY
Steve Bromley
Chair and CEO
For more information contact:
Investor Relations
John Rathwell, Senior Vice President, Investor Relations & Corporate Development
647 629 0018
info@organto.com
ABOUT ORGANTO
Organto is an integrated provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-light business model to serve a growing socially responsible and health-conscious consumer around the globe. 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.