ORGANTO FOODS INC - OGOFF STOCK NEWS

Organto Foods has announced a significant expansion of its organic ginger supply, partnering with a Brazilian supplier to increase volumes from 120,000 kg in 2020 to 800,000 kg in 2021. The company aims to raise its revenue target for the ginger and turmeric category from CDN $5 million to CDN $10 million by 2023, driven by growing consumer demand for health benefits and unique taste. This strategic move positions Organto as a stronger player in the organic produce market.

Organto Foods Inc. has reported significant revenue growth for its recently acquired subsidiary, Fresh Organic Choice. In March 2021, the subsidiary achieved the highest revenue in its history, attributed to market demand and new customer acquisitions. Fresh Organic Choice's fresh cut organic herbs are now listed with notable retailers, including a UK online supermarket and a German organic distributor. The company aims for annual revenues of approximately CDN $10 million from this category. However, strong market demand and operational integration continue to be key focus areas.

Organto Foods Inc. (TSX-V:OGO) (OTC:OGOFF) has announced that Robert Giustra will step down from the Board of Directors effective April 2, 2021, but will transition into the role of Advisor. Giustra, a co-founder, has been instrumental since the company's inception. His departure aims to allow new food industry executives to bring fresh perspectives to the company. The Board expressed gratitude for Giustra's contributions, stating that the addition of four new Directors over the past year enhances Organto's capability to grow. Giustra remains supportive of Organto's future endeavors.

Organto Foods Inc. has secured a 5-year exclusive supply agreement with a Mexican supplier of organic avocados, anticipated to generate approximately CDN $65 million in revenue. This agreement will facilitate the marketing of 12.5 million to 14 million kg of organic avocados from 2021 to 2025, leveraging Organto's year-round supply chain from multiple regions. The supplier is working toward Fairtrade and Bio Suisse certifications to enhance product appeal. Organto will issue up to 1 million common shares based on delivery targets, pending TSX-V approval.

Organto Foods Inc. has announced the appointment of Joe Riz to its Board of Directors, pending acceptance by the TSX Venture Exchange. Riz brings significant experience in operating and governance, having previously been a founding director at SunOpta and serving as Executive VP and COO during growth periods. The board transformation aims to bolster Organto's strategic plans for growth, with the recent addition of several directors bringing extensive global food industry expertise. This development signifies a commitment to enhancing leadership as Organto scales its operations in organic produce.

Organto Foods has expanded its product portfolio by adding fairtrade and organic mango following a successful market test. The company entered a strategic supply agreement with a Peruvian grower, receiving its first mango shipment for marketing in Europe. Organto expects annual sales of organic mango to reach CDN $4.0 to $6.0 million within a year, aiming for $10 million in long-term revenues. Additionally, stock options were granted to an employee, and common shares are proposed as signing bonuses for co-CEOs. The news reflects Organto's commitment to sustainable practices.

Organto Foods Inc. announced the results of its 2020 Annual General Meeting held on December 2, where 69.7 million shares were voted, achieving over 99% support for all matters. Six directors were elected, including four independent members. Furthermore, the company confirmed the appointment of its independent auditor and approved the establishment of a Restricted Share Unit Plan. Notably, Organto has opted to accelerate the expiry of common share purchase warrants issued earlier in 2020, setting a new expiry date of January 5, 2021. If all warrants are exercised, Organto could raise an additional $1.5 million.

Organto Foods Inc. has expanded its organic limes portfolio by commencing supply from a Colombian partner, with the first shipment arriving in Europe this week. The company anticipates weekly lime sales of approximately CDN $45,000 to $60,000 and aims for annual revenues of about $10 million. Organto expects fourth-quarter revenues between CDN $4.4 to $4.6 million, marking a 185% increase year-over-year. This will be the sixth consecutive quarter of record revenues, driven by increased demand for limes during the COVID-19 pandemic.

Organto Foods Inc. has announced a significant increase in its seasonal supply of organic avocados from a Moroccan supplier, aiming to triple the supply compared to the previous growing season. The first shipment is expected to arrive in Europe shortly. This expansion aligns with rising global demand for avocados, projected to contribute to record quarterly revenues estimated between $4.4 million and $4.6 million, marking a 185% increase year-over-year. The company has established a year-round supply chain from multiple countries to cater to its growing customer base in Europe.