Organto Amends Terms of US$590,000 Convertible Loan
Vancouver, British Columbia (FSCwire) - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (the “Company”), Further to its news release of April 4, 2016, the Company announces that it has, subject to the acceptance of the TSX Venture Exchange, agreed with SG Strategic Income Limited to amend the US$590,000 convertible loan (the “Loan”) between the parties dated March 30, 2016, so as to extend the due date of the Loan to June 30, 2018 and to revise the conversion price of the Loan from CDN$0.42 to CDN$0.33.
ON BEHALF OF THE BOARD,
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.
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Organto is a vertically integrated provider of year-round value-added branded organic produce serving a growing socially responsible and health conscious consumer around the globe. Organto employs a business model that is integrated from the “table to the field”. Driven by consumer demand for healthy and organic food products, it operates an integrated business model with logistical, processing and growing capabilities, providing traceability from the table back to the field. Operations are currently located in Guatemala, The Netherlands and the USA, as well as third-party supply from Egypt and Peru, with plans to continue to expand year-round supply capabilities via strategic third-party growers and processors in Africa, Mexico and other growing regions. 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.
Source: Organto Foods Inc. (TSX Venture:OGO, OTC Pink:OGOFF)
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