Organto Announces 2021 Annual General Meeting Results

Rhea-AI Summary

Organto Foods Inc. held its 2021 Annual General Meeting on June 28, 2021, in Vancouver, with approximately 26% of outstanding shares voting. All agenda items received over 99% shareholder approval. Seven directors were elected to the board, with 71.4% being independent. The appointment of a new independent auditor, Dale Matheson Carr-Hilton Labonte LLP, was ratified, along with the continuation of the Share Option Plan and Restricted Share Unit Plan. Additionally, 200,000 stock options were granted to an employee at an exercise price of CDN $0.385.

Positive

• Over 99% shareholder support for all agenda items.
• 71.4% of elected directors are independent.
• Continuation of Share Option and Restricted Share Unit Plans approved.
• Grant of stock options reinforces employee incentives.

Negative

• None.

VANCOUVER, BC and BREDA, THE NETHERLANDS / ACCESSWIRE / June 29, 2021 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF)(FSE:OGF) ("Organto" or "the Company"), an integrated provider of organic and value-added organic fruits and vegetables today announced the results of its 2021 Annual General Meeting held on June 28, 2021 in Vancouver, British Columbia.

Annual General Meeting

At the Annual General Meeting 65,909,354 common shares representing approximately 26.0% of eligible outstanding shares were voted, with all matters before the meeting receiving in excess of 99% support.

Shareholders elected seven directors: Steve Bromley, Peter Gianulis, Jeremy Kendall, Alejandro Maldonado, Joe Riz, Gert Jan van Noortwijk and Joost Verrest. Mr.'s Kendall, Maldonado, Riz, van Noortwijk and Verrest were elected as independent directors, representing 71.4% of the directors elected to the board.

The shareholders also approved the appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as Organto's independent auditor for the ensuing year, and resolved that both the Company's Share Option Plan and Restricted Share Unit Plan be ratified and approved for continuation until the Company's next Annual General Meeting.

Grant of Stock Options

Organto also announced today that it has granted 200,000 stock options to an employee, as per the terms of the Company's Stock Option Plan, at an exercise price of CDN $0.385, with 20% vesting immediately and 20% on each anniversary thereafter. The options granted have a term of five years.

ON BEHALF OF THE BOARD,

Steve Bromley
Chair and Co-Chief Executive Officer

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.

For more information contact:

Investor Relations
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.

SOURCE: Organto Foods Inc.

View source version on accesswire.com:
https://www.accesswire.com/653395/Organto-Announces-2021-Annual-General-Meeting-Results

FAQ

What was the outcome of Organto Foods Inc.'s 2021 Annual General Meeting?

The meeting resulted in over 99% shareholder approval for all agenda items and the election of seven directors, with 71.4% being independent.

How many shares were voted at Organto's 2021 Annual General Meeting?

Approximately 65,909,354 common shares were voted, representing about 26.0% of eligible shares.

Who were the elected directors at Organto's 2021 Annual General Meeting?

The elected directors are Steve Bromley, Peter Gianulis, Jeremy Kendall, Alejandro Maldonado, Joe Riz, Gert Jan van Noortwijk, and Joost Verrest.

What stock options were granted by Organto Foods Inc.?

Organto granted 200,000 stock options to an employee at an exercise price of CDN $0.385, with a vesting schedule of 20% immediately and 20% on each anniversary.