Organto Announces DTC Eligibility
Organto Foods has announced that its shares are now DTC eligible, allowing for electronic clearing and settlement in the U.S. This move is expected to lower costs and speed up transactions for investors and brokers, making Organto's stock more accessible. According to Steve Bromley, Chair and Co-CEO, this eligibility is a strategic step to broaden the investor base in the fast-growing organic food market. The press release emphasizes the commitment of Organto to sustainable practices and the potential growth opportunities ahead.
- Shares are now eligible for electronic clearing and settlement in the U.S., enhancing trading accessibility.
- DTC eligibility is expected to reduce costs and accelerate settlement processes for investors.
- Strategic move to expand the potential investor base in the U.S. market.
- None.
VANCOUVER, BC and BREDA, THE NETHERLANDS / ACCESSWIRE / June 2, 2021 / Organto Foods Inc. (TSX-V:OGO) (OTC PINK:OGOFF) (FSE:OGF) ("Organto" or "the Company"), an integrated provider of organic and value-added organic fruits and vegetables today announced that its shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company ("DTC").
DTC is a subsidiary of the Depository Trust & Clearing Corporation, one of the world's largest securities depositories, and manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This reduces costs and accelerates the settlement process for investors and brokers, allowing the stock to be traded by a larger group of brokerage firms by complying with the DTC standards.
"Having our shares eligible for electronic clearing and settlement in the United States is an important step in our strategy that we believe will expand our potential investor base in the United States," commented Steve Bromley, Chair and Co-CEO. "Given our unique positioning in fast growing healthy foods markets combined with the strong growth we have been and continue to experience, we look forward to introducing Organto to additional investors in the United States and making our stock more accessible to them."
ON BEHALF OF THE BOARD,
Steve Bromley
Chair and Co-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.
For more information contact:
Investor Relations
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.
FORWARD LOOKING STATEMENTS
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's belief that DTC eligibility will reduce costs and accelerate the settlement process for investors and brokers in the United States; Organto's belief that having shares eligible for electronic clearing and settlement in the United States will expand the Company's potential US investor base; management's beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
SOURCE: Organto Foods Inc.
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