Organto Foods Stock Price, News & Analysis

Organto Foods Inc. announced a new €2 million (approximately CDN$ 2.8 million) factoring facility with Eurofactor, a Division of Credit Agricole Group, significantly enhancing its capital structure. This new facility more than doubles the previous credit limit and is expected to reduce borrowing costs by approximately 40%-50%, improving working capital management. Co-CEO Rients van der Wal highlighted the need for this facility to support the anticipated growth in 2022 and further expansion of Organto's I AM Organic brand, addressing increasing consumer demand for sustainable organic products.

Organto Foods Inc. has completed the acquisition of Zimbabwe Marketing Services (ZMS), enhancing its sourcing capabilities in key African regions. This strategically aligned, asset-light acquisition is expected to drive immediate EBITDA growth and supports Organto's focus on organic fruits and vegetables. The deal includes €400,000 worth of common shares, resulting in the addition of established supply agreements and potential expansion in markets like Europe, South Africa, and the Middle East. Additionally, Organto has granted stock options and restricted share units to enhance employee engagement.

Organto Foods Inc. (OTC PINK: OGOFF) announced its participation in the 2022 World Outlook Financial Conference on February 5. CEO Steve Bromley will present, promoting Organto's organic fruit and vegetable products. The company emphasizes its asset-light business model sourcing from five continents and serving 18 countries in Europe. Notably, Organto has achieved nine consecutive quarters of record revenue and margin growth. The firm aims to expand its operations through internal growth and acquisitions, reinforcing its commitment to sustainability.

Organto Foods Inc. has upgraded its OTC Pink Sheet listing to the OTCQB Venture Market, effective January 13, 2022. This move is designed to enhance trading accessibility for U.S. investors under the unchanged ticker symbol OGOFF. The OTCQB requires companies to meet high financial standards and adhere to U.S. securities laws. This upgrade, alongside previous DTC eligibility, aims to boost investor awareness and streamline trading experiences. Organto plans to leverage the growing global demand for healthy, sustainable food products.

Organto Foods Inc. announced the appointment of John Rathwell as Senior Vice President of Investor Relations and Corporate Development. Rathwell brings over 25 years of capital markets experience, having worked extensively at TD Securities. His expertise will support Organto's growth strategy in organic fruits and vegetables through internal expansion and acquisitions. Both Co-CEOs expressed enthusiasm regarding Rathwell’s contributions, emphasizing the company's commitment to sustainable practices and building a one-stop shop for organic products.

Organto Foods Inc. announces the appointment of Rob McKeracher as a Strategic Advisor, bringing over 20 years of experience in the food and beverage industry. His previous role as Chief Financial Officer at SunOpta involved driving financial reporting and corporate strategies, crucial for acquisitions and integrations. The company aims to enhance its growth in organic and specialty fruits and vegetables, leveraging McKeracher's expertise to execute its long-term ethical growth strategy. This strategic move is expected to support Organto's mission to become a leading provider in the sector.

Organto Foods Inc. reported record third quarter revenues of $4,298,282, a 57% increase year-over-year, marking the largest in the company's history. Gross profit reached $529,018, or 12.3% of revenues, up 85% from the previous year. Despite global logistics challenges, the company achieved nine consecutive quarters of revenue growth. However, net loss for the quarter was $1,948,165, compared to $509,967 the previous year, largely due to increased operational costs and a non-cash loss related to debt settlement.

Organto Foods Inc. has finalized agreements to acquire the operating assets of Zimbabwe Marketing Services (ZMS), enhancing its sourcing capabilities for organic and non-GMO produce from African regions. With annual revenues of approximately CDN $2.0 million, this acquisition is expected to be immediately EBITDA accretive. The deal includes customer and supplier relationships, along with trademark applications for the Awesome and Rawsome Fruits brands. The transaction awaits acceptance from the TSX Venture Exchange and aligns with Organto's strategic growth objectives.

Organto Foods Inc. (OTC PINK:OGOFF) announced an extension of its I AM Organic branded products with the addition of nine new fresh cut organic herbs, now available through Gorillas, Europe's fast-growing grocery delivery service. This development leverages the capabilities of Fresh Organic Choice, acquired in January 2021, to enhance Organto's product portfolio. The listing aims to meet consumer demand for high-quality, convenient organic products, supported by digital product passport technology. Organto's strategy focuses on building its brand while maintaining a sustainable and transparent supply chain.