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Organto Announces Closing of Over-Subscribed Convertible Debenture Offering and Concurrent Equity Private Placement for Gross Proceeds of $14 Million
Organto Announces Closing of Over-Subscribed Convertible Debenture Offering and Concurren...
About this update from Organto Foods, Inc.
[{"type":"text","content":"\n \n \n \n Organto Announces Closing of Over-Subscribed Convertible Debenture Offering and Concurrent Equity Private Placement for Gross Proceeds of $14 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n Proceeds To Be Used to Fund Internal Growth and Accretive Acquisition Opportunities\n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n BREDA, Netherlands\n \n ,\n \n Nov. 12, 2021\n \n /CNW/ -\n \n Organto Foods Inc.\n \n (TSXV: OGO) (FSE: OGF)\n \n (\"Organto\" or \"the Company\"),\n \n an integrated provider of organic and value-added organic fruits and vegetables, today announced that it has closed its previously announced overnight marketed public offering (the \"Offering\") of unsecured convertible debentures (\"the Debentures\") and private placement of common shares in the capital of Organto (\"Shares\") for cumulative gross proceeds of\n \n $14,027,950\n \n .\n \n \n The Company closed the Offering for gross proceeds of\n \n $8,050,000\n \n which includes\n \n $1,050,000\n \n principal amount of Debentures issued pursuant to the underwriters' full exercise of their over-allotment option. The Offering was completed through a syndicate of underwriters co-led by Beacon Securities Limited and PI Financial Corp., and including Clarus Securities Inc. and Stifel Nicolaus Canada Inc. (the \"Underwriters\"). A cash commission of\n \n $483,000\n \n was paid and 966,000 compensation options were issued to the Underwriters in connection with the Offering. Each compensation option is exercisable until\n \n November 2023\n \n into one Share of the Company at\n \n $0.50\n \n .\n \n \n The Company closed the private placement of Shares (the \"Private Placement\") for gross proceeds of\n \n $5,977,950\n \n representing the sale of 18,565,062 Shares at a price of\n \n $0.322\n \n per Share. The Private Placement was led by Blikkenburg B.V., a respected Dutc...