Organto Foods Announces Increase in Private Placement
Vancouver, BC and Breda, The Netherlands – Organto Foods Inc. (TSX-V:OGO)(OTC PINK:OGOFF) (“Organto” or the “Company”), a leading vertically integrated producer, marketer, and distributor of organic and nature-grown produce, announced today its decision to expand the size of its previously announced non-brokered private placement. Originally set at C$5,000,000, the private placement will now have the potential to raise up to C$5,500,000.
Details of the Private Placement
Under the revised terms, Organto proposes to issue up to 55,000,000 common shares of the Company at a price of $0.10 per share. This represents a 10% increase from the initial plan, which aimed to issue 50,000,000 common shares at the same price point.
Impact on Organto
The additional funds from this private placement will allow Organto to further accelerate its growth strategy. The Company plans to use the proceeds to finance the expansion of its organic and nature-grown produce offerings, as well as to invest in research and development to improve its product lines and sustainability initiatives.
Impact on the World
Organto’s increased private placement is a positive sign for the organic and nature-grown produce industry. With more funds at its disposal, Organto will be able to increase its production capacity, potentially leading to a larger supply of organic and nature-grown produce for consumers worldwide. This could result in lower prices, making these products more accessible to a wider audience.
Conclusion
Organto Foods’ decision to expand the size of its non-brokered private placement is a significant step towards accelerating its growth strategy. With the potential to raise an additional C$500,000, the Company will be able to invest more in expanding its organic and nature-grown produce offerings, as well as in research and development. This news is also positive for consumers, as it could lead to a larger supply of organic and nature-grown produce and potentially lower prices.
- Organto Foods announces expansion of private placement
- Proposed issuance of up to 55,000,000 common shares at $0.10 per share
- Additional funds to accelerate growth strategy
- Positive sign for organic and nature-grown produce industry
- Potential for lower prices and increased accessibility
