Welcome to our dedicated page for Organto Foods news (Ticker: OGOFF), a resource for investors and traders seeking the latest updates and insights on Organto Foods stock.
Organto Foods Inc. (OTCQX: OGOFF) generates news that reflects both its role in organic and fairtrade food supply chains and its activities in global capital markets. The company describes itself as an integrated provider of branded, private label, and distributed organic, fairtrade, and non-GMO fruit and vegetable products, supplying certified organic and fairtrade produce to leading international retailers. Its news flow often combines operational updates with financing and strategic developments.
Readers of Organto’s news can expect detailed announcements on financial performance, including quarterly and year-to-date results prepared under International Financial Reporting Standards. These releases may discuss sales growth, gross profit, operating expenses, and non-IFRS measures such as adjusted gross profit and EBITDA, along with commentary on restructuring progress and business realignment.
Organto also issues news about its capital structure and funding. Recent disclosures include non-brokered private placements of units with accompanying warrants, early warrant exercise incentive programs subject to TSX Venture Exchange acceptance, and the prepayment of convertible notes to optimize debt and potential dilution. The company has highlighted new financial and foreign exchange facilities with a Netherlands-based bank to support its European foods operations and manage currency risk.
Operational and strategic updates form another key part of Organto’s news. The company has reported on its participation in major industry events such as the Fruit Attraction conference in Madrid, its integrated farm-to-shelf model, and a refreshed brand identity aligned with an integrated global ecosystem. It has also announced its upgrade to trading on the OTCQX Best Market in the United States, emphasizing enhanced disclosure, governance standards, and broader investor reach.
For investors and observers following OGOFF, the news stream offers insight into Organto’s organic and fairtrade product platform, its asset-efficient supply chain, and its ongoing efforts to strengthen its balance sheet and expand its presence in healthy foods markets.
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Organto Foods has successfully closed the third tranche of its unsecured convertible debenture financing, raising $500,000 in gross proceeds. This financing is part of a larger fundraising effort that has generated total gross proceeds of CAD $1,033,000. The debentures carry a 10% annual interest rate and mature in December 2024, convertible into common shares at CDN $0.30 per share. If Organto's share price exceeds CDN $0.45 for 10 consecutive trading days, the company may accelerate conversion. The funds will support growth initiatives and general working capital.
Organto Foods has successfully completed the second tranche of its private placement of unsecured convertible debentures, raising $238,000. The debentures carry a 10% annual interest rate, maturing in February 2025, and can be converted into common shares at CDN $0.30 each. If Organto's shares exceed CDN $0.45 for 10 consecutive trading days, conversion may be accelerated. Total fundraising from this placement may reach $1.1 million. The funds will support growth initiatives and general working capital, pending final acceptance from the TSX Venture Exchange.
Organto Foods Inc. (OTCQB:OGOFF) has successfully closed the first tranche of its private placement of unsecured convertible debentures, raising $295,000 in gross proceeds. The debentures will mature in February 2025, carrying a 10% annual interest rate and convertible into common shares at CDN $0.30 per share. Organto aims to raise a total of $1.1 million through multiple tranches to support growth initiatives and general working capital. The company has also relocated its head office to Toronto, Ontario.
Organto Foods Inc. projects significant growth for fiscal 2023, estimating a sales increase of approximately 135% and a gross profit growth of around 200% compared to 2022. The company expects to achieve EBITDA positivity in the latter half of the year, alongside the full integration of its recent acquisition, The New Fruit Group. In Q4 2022, Organto recorded sales of approximately $5.5 million, marking a 12% year-over-year increase. The company also reported a strong year-end cash balance of $5.8 million. Despite facing macroeconomic challenges, management remains optimistic about capturing growth opportunities in the organic produce market.
Organto Foods is hosting a 2023 Business Outlook Webinar on January 30, 2023, at 4:15 PM EST. The Co-CEOs, Steve Bromley and Rients Van der Wal, will discuss market trends, operational updates, and growth strategies, including insights on their recent acquisition, the New Fruit Group. Interested participants can join via Zoom using the provided link. The company focuses on providing organic and non-GMO products with a mission centered around sustainable practices and community engagement.