Organto Announces Leadership Changes
Vancouver, British Columbia (FSCwire) - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto”), today announced that Mr. Arnoud Maas, Chief Executive Officer of Organto Foods Inc. has advised that he will not renew his Management Services Agreement and thus will be leaving Organto as both CEO and Director. Steve Bromley, Chair of the Board of Directors has assumed the role of Interim CEO, Organto Foods Inc., effective immediately, and will continue in that role pending the addition of a seasoned executive to lead the organization. Mr. Bromley brings over thirty years of diverse foods experience in both private and public companies.
With the departure of Mr. Maas, Organto is pleased to announce the appointment of Mr. Rients van der Wal to the position of Chief Executive Officer, Organto Europe BV, effective immediately. Mr. van der Wal brings extensive fresh fruits and vegetables experience to Organto, having strong industry contacts at both customer and supply chain levels. Mr. van der Wal will be based in the Netherlands and will lead Organto’s vertically integrated value-added branded fresh vegetables business which operates from Amsterdam. He will report to Steve Bromley.
In hand with Mr. van der Wal’s appointment, Organto intends to expand its branded organic vegetables product offering and supply capabilities with the addition of a global fresh fruits and vegetables supply platform, intended to deepen relationships with strategic growers in core supply markets, expanding market presence and opportunities for new value-added Organto “I am Organic” branded product offerings.
Steve Bromley commented: “I want to thank Arnoud for his contributions and wish him well with his future endeavors. I also want to welcome Rients to his position and wish him much success as we work together to build the Organto brand.”
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.
Forward Looking Statements
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). In particular, and without limitation, this news release contains forward-looking statements respecting Organto’s business model and markets; Organto’s vertically integrated year-round supply capabilities; the expected benefits of expanding its business with the addition of a global fresh fruit and vegetables supply platform, the expertise that Mr. van der Wal brings to Organto’s business; management’s beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto’s business model will be implemented and product supply will be increased; anticipated market demand; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavourable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors, partners and joint venturers. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
Source: Organto Foods Inc. (TSX Venture:OGO, OTC Pink:OGOFF)
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