Organto Foods Receives Notification of Change in Ownership of November 2026 8.0% Convertible Debentures
Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) announced that Antares Capital Management has acquired over 67% of the company's outstanding 5-year, 8.0% convertible unsecured subordinated debentures, with an aggregate face value of $8,050,000. These debentures are due November 30, 2026.
Under the trust indenture terms, Antares must extend the same purchase offer to all remaining debenture holders. Organto will coordinate with Computershare Trust Company of Canada to facilitate this offer. The company has also agreed to discuss potential restructuring of the debentures' terms with Antares.
CEO Steve Bromley expressed appreciation for Antares' transparency and willingness to explore potential debenture restructuring options that would benefit all stakeholders.
Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) ha annunciato che Antares Capital Management ha acquisito oltre il 67% delle obbligazioni convertibili subordinate non garantite della società, con una scadenza di 5 anni e un tasso d'interesse dell'8,0%, per un valore nominale totale di $8.050.000. Queste obbligazioni scadono il 30 novembre 2026.
Secondo i termini del contratto di fiducia, Antares deve estendere la stessa offerta di acquisto a tutti gli altri detentori di obbligazioni. Organto coordinerà con Computershare Trust Company of Canada per facilitare questa offerta. L'azienda ha anche accettato di discutere un possibile ristrutturazione dei termini delle obbligazioni con Antares.
Il CEO Steve Bromley ha espresso apprezzamento per la trasparenza di Antares e la disponibilità a esplorare potenziali opzioni di ristrutturazione delle obbligazioni che possano beneficiare tutti gli stakeholder.
Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) anunció que Antares Capital Management ha adquirido más del 67% de los bonos convertibles subordinados no garantizados de la compañía, con un plazo de 5 años y una tasa de interés del 8,0%, por un valor nominal total de $8,050,000. Estos bonos vencen el 30 de noviembre de 2026.
Según los términos del contrato de fideicomiso, Antares debe extender la misma oferta de compra a todos los demás tenedores de bonos. Organto coordinará con Computershare Trust Company of Canada para facilitar esta oferta. La empresa también ha acordado discutir una posible reestructuración de los términos de los bonos con Antares.
El CEO Steve Bromley expresó su aprecio por la transparencia de Antares y su disposición a explorar opciones de reestructuración de bonos que beneficien a todos los interesados.
Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF)는 Antares Capital Management가 회사의 5년 만기, 8.0% 전환 불확실한 후순위 채권의 67% 이상을 인수했다고 발표했습니다. 이 채권의 총 액면가는 $8,050,000입니다. 이 채권은 2026년 11월 30일에 만료됩니다.
신탁 계약 조건에 따라 Antares는 나머지 채권 보유자에게 동일한 구매 제안을 해야 합니다. Organto는 이 제안을 용이하게 하기 위해 Computershare Trust Company of Canada와 협력할 것입니다. 회사는 또한 Antares와 채권 조건의 잠재적 재구성을 논의하기로 합의했습니다.
CEO Steve Bromley는 Antares의 투명성과 모든 이해관계자에게 도움이 될 채권 재구성 옵션을 탐색하려는 의지에 대해 감사의 뜻을 표했습니다.
Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) a annoncé que Antares Capital Management a acquis plus de 67 % des obligations convertibles subordonnées non garanties de l'entreprise, avec une durée de 5 ans et un taux d'intérêt de 8,0 %, d'une valeur nominale totale de 8 050 000 $. Ces obligations arrivent à échéance le 30 novembre 2026.
Conformément aux termes de l'acte de fiducie, Antares doit étendre la même offre d'achat à tous les autres détenteurs d'obligations. Organto coordonnera avec Computershare Trust Company of Canada pour faciliter cette offre. L'entreprise a également accepté de discuter d'une éventuelle restructuration des conditions des obligations avec Antares.
Le PDG Steve Bromley a exprimé son appréciation pour la transparence d'Antares et sa volonté d'explorer des options de restructuration des obligations qui profiteraient à toutes les parties prenantes.
Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) gab bekannt, dass Antares Capital Management über 67% der ausstehenden 5-jährigen, 8,0% wandelbaren unbesicherten nachrangigen Anleihen des Unternehmens erworben hat, mit einem Gesamtnennwert von 8.050.000 $. Diese Anleihen laufen am 30. November 2026 aus.
Gemäß den Bedingungen des Treuhandvertrags muss Antares das gleiche Kaufangebot an alle verbleibenden Anleihegläubiger unterbreiten. Organto wird mit der Computershare Trust Company of Canada zusammenarbeiten, um dieses Angebot zu erleichtern. Das Unternehmen hat außerdem zugestimmt, potenzielle Umstrukturierungen der Anleihebedingungen mit Antares zu besprechen.
CEO Steve Bromley äußerte seine Wertschätzung für die Transparenz von Antares und die Bereitschaft, potenzielle Optionen zur Umstrukturierung der Anleihen zu prüfen, die allen Interessengruppen zugutekommen würden.
- Potential restructuring of debentures could improve debt terms
- Single majority debenture holder may streamline debt negotiations
- Significant debt concentration (67%) with single holder creates dependency risk
- Restructuring discussions indicate potential concerns about current debt terms
TORONTO, ON / ACCESS Newswire / March 11, 2025 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) ("Organto" or the "Company"), today announced that it has received notification from Antares Capital Management Ltd. ("Antares"), a private corporation, that it has purchased over
Under the terms of the trust indenture governing the Debentures, Antares is required to make an offer to all Debenture holders to acquire their Debentures on the same terms on which Antares acquired its Debentures, which Antares has advised the Company it is willing and able to do. As a result, the Company will facilitate the coordination with Computershare Trust Company of Canada, as the trustee of the Debentures, to deliver such offer to all remaining Debenture holders. Debenture holders who wish to contact Antares are free to email info@antaresgroup.net.
The Company has also committed to engage in discussions with Antares to explore the potential to restructure the terms of the Debentures in a mutually acceptable manner.
"We appreciate Antares' transparency in disclosing its position to Organto and the opportunity to explore the benefits of a potential restructuring of the Debentures," said Steve Bromley, CEO of Organto Foods Inc. "We are committed to maintaining a productive dialogue to ensure that any negotiated terms align with the best interests of all stakeholders."
Further updates will be provided as discussions progress.
ON BEHALF OF THE BOARD
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 a leading provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-lighter business model to serve a growing socially responsible and health-conscious consumers. 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 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting the expected discussions with Anatares with regards to the possible restructuring of the Debentures. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including, without limitation, the assumption that the Company will be able to resolve any and all issues that may arise during the negotiation, restructuring and/or settlement of the Debentures in a timely manner; that all applicable regulatory and/or other requisite approvals will be obtained in a timely manner and on acceptable terms; and that all conditions precedent to the restructuring and/ or settlement of the Debentures will be satisfied I a timely manner. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in forward-looking statements in this news release include, among others, uncertainty regarding the outcome of negotiations with Antares; regulatory risks; risks related to market volatility and economic conditions; risks related to unforeseen delays; and risks that necessary financing will be unavailable when needed. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risks and Uncertainties" and "Forward-Looking Statements" sections of the Company's annual and interim management's discussion and analysis filings with the Canadian securities regulators, which are available under the Company's profile at www.sedarplus.ca. Except as required by law, Organto does not assume any obligation to release publicly any revisions to forward-looking statements contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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.
SOURCE: Organto Foods, Inc.
View the original press release on ACCESS Newswire
FAQ
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