Organto Confirms Addition of Industry Veteran to Board of Directors

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[{"type":"text","content":"Organto Confirms Addition of Industry Veteran to Board of DirectorsVANCOUVER, BC / ACCESSWIRE / December 10, 2019 / Organto Foods Inc. (TSXV:OGO)(OTC:OGOFF) (\"Organto\" or \"the Company\"), today confirmed the appointment of Alejandro Maldonado, an agricultural veteran in Mexico, to the Organto board of directors. The addition of Mr. Maldonado returns the board to six directors, with four independent members and two non-independent members.Alejandro Maldonado is President and Chairman of Alpasa Farms, a strategic supply partner of Organto, and one of the largest exporters of blueberries, blackberries and figs from Mexico. Alpasa is also a strategic investor in Organto. Alejandro is the President of the Berry Growers Association of Mexico and his family has deep roots in the Mexican avocado industry, being one of the largest producers of avocados from the Michoacán region of Mexico. He is a current delegate for the Association of Producers and Packers of Avocado in Mexico (APEAM), a private, non-profit association made up of avocado exporters and packers; and the only cooperative recognized by the USDA and SAGARPA. His deep industry knowledge and supply chain expertise is expected to be an invaluable asset to Organto.\"We are very pleased to confirm Alejandro's appointment to our board as we continue our build-out our foods operations across different product lines. His knowledge of our products and supply chains combined with in-depth experience within Mexican growing regions will be invaluable for us at the board level.\" commented Steve Bromley, Chair and Interim CEO.In addition, the Company announced that it has granted incentive stock options as part of its annual review to certain of its directors, officers and employees to purchase up to an aggregate of 5,325,000 common shares at an exercise price of $0.07 per share. 1,240,000 of the options vest immediately. 2,115,000 will vest after one year, 1,240,000 will vest on the second anniversary of the grant and 365,000 on the third and fourth anniversaries of the grant. All of the foregoing options expire on December 4, 2024. In addition, certain directors who were not part of the above referenced grant of stock options forfeited 3,425,000 of previously issued options.Also, the company announced today that it will not be issuing 2,000,000 warrants that were proposed to be...

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