ORGANTO FOODS INC - OGOFF STOCK NEWS

Organto Foods has announced that its I AM Organic branded banana has been recognized as one of the Top 5 most innovative organic products in the Netherlands for 2023. This recognition comes from a selection process organized by BioNederland and FoodPersonality, with nearly 14,000 votes cast. The honor highlights the product's commitment to sustainability, transparency, and a carbon-neutral footprint. Meanwhile, Organto's recent acquisition of The New Fruit Group positions it to expand its organic banana offerings in European retail markets. This achievement enhances Organto's visibility among retailers and supports its growth strategy in Europe.

Organto Foods Inc. (OTCQB:OGOFF) expands its product line with the launch of the =AWESOME brand, featuring non-GMO fruit products like bananas and apples. The new brand aims to address consumer needs amid inflationary pressures and complements Organto's existing organic offerings. Initial deliveries have begun in Germany, with plans to expand to 1,000 points of sale across Europe. This strategic move aligns with the company's mission for sustainable and healthy food options. The company believes this venture will enhance growth opportunities and appeal to health-conscious consumers.

Organto Foods Inc. has successfully acquired NFG New Fruit Group GmbH, a certified supplier of organic produce including bananas, avocados, and mangoes. The deal enhances Organto's sourcing capabilities in key European markets, expected to generate approximately €15 million (around CDN $20 million) in sales for 2023 with positive EBITDA contributions. The acquisition involves a payment of €250,000 in cash, issuance of 2,250,000 common shares, and a €400,000 note payable. This strategic move aligns with Organto's growth ambitions in the organic fruit and vegetable sector.

Organto Foods Inc. has announced the acquisition of NFG New Fruit Group GmbH, a German organic produce supplier, for a total transaction value of €250,000 in cash, 2,250,000 common shares, and a €400,000 note. The acquisition aims to enhance Organto's sourcing and supply capabilities in key European markets, focusing on organic bananas, avocados, and mangoes. Expected sales for NFG in 2023 are approximately €15 million with positive EBITDA contributions, indicating significant growth potential for Organto.

Organto Foods has announced plans to amend and extend terms of its 2020 convertible debentures while launching a private placement of new 2022 convertible debentures to raise up to $500,000. The 2020 debentures will see an interest rate increase from 8% to 10% and a maturity extension of two years. As of now, $522,000 of the original $3,666,850 has been converted into shares. The new debentures will also have a 10% interest rate, with the option to convert into shares at $0.30. Proceeds will be directed towards growth initiatives and general working capital.

Organto Foods Inc. (OTCQB:OGOFF) reported record sales of $4,574,574 for Q3 2022, a 6% increase year-over-year and the highest third quarter sales in its history. Gross profit was $166,126 or 3.7% of sales, down from 12.3% previous year, due to inflation and rising supply chain costs. Year-to-date sales rose 15.3% to $16,657,387, but net loss widened to $7,065,357. Increased overhead costs of 31.3% reflect investments in growth initiatives. Organto anticipates continued demand for organic products despite challenging macroeconomic conditions.

Organto Foods has expanded its geographic footprint by partnering with a major European supermarket chain to sell organic products in Serbia, following recent sales in the Czech Republic. The supermarket chain operates over 7,500 stores across 10 countries and is a leader in the Serbian market with 457 retail locations. The initial launch in Belgrade aims for a broader rollout in the coming months. Additionally, Organto has granted 85,000 stock options to an employee, while terminating an exclusive avocado supply agreement due to supply chain disruptions without a material impact on the company's operations.

Organto Foods Inc. has partnered with Central Europe's leading e-grocer to expand its presence in the Czech Republic. The collaboration will feature Organto's "I AM Organic" branded and private label products, which include fruits, vegetables, and herbs. The online grocer, which commands a 70% market share in the Czech Republic, aims to enhance its organic category. Initial launches began in Prague, with plans for nationwide availability within a year. Organto's commitment to sustainability and organic produce aligns with increasing consumer demand for healthy food options.

Organto Foods Inc. (TSXV:OGO, OTC:OGOFF) announced its participation in the Fruit Attraction Fair in Madrid, Spain from October 6-8, 2022. Co-CEO Rients van der Wal emphasized the growing demand for sustainable organic produce and highlighted Organto's innovations, including proprietary digital passport technology for product transparency. The company aims to build business relationships and showcase its I AM Organic brand at the event. Organto reports eleven consecutive quarters of record revenue growth, driven by a flexible, asset-light business model serving eighteen European countries.