Business
Organto Foods Announces Completion of $8.0 Million Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Organto Foods, Inc.
[{"type":"text","content":"Organto Foods Announces Completion of $8.0 Million Private Placement Financing NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / September 10, 2025 / Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF) (\"Organto\" or the \"Company\") is pleased to announce that it has completed its previously announced non-brokered private placement (the \"Private Placement\"), pursuant to which the Company has issued 16,000,000 units of the Company (the \"Units\") at a price of C$0.50 per Unit for gross proceeds of C$8,000,000.Each Unit consists of one common share in the capital of the Company (a \"Common Share\") and one-half of a common share purchase warrant of the Company (each whole such warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share (a \"Warrant Share\") at a price per Warrant Share of C$0.75 until March 10, 2027 (the \"Expiry Date\"), subject to the right of the Company to accelerate the Expiry Date to a date that is 30 days following dissemination of a news release announcing such acceleration if, at any time, after the date of issuance of the Warrants, the closing price of the Common Shares on the TSX Venture Exchange (the \"TSXV\") equals or exceeds C$1.00 for a period of 10 consecutive trading days.In consideration for arranging the Private Placement, the Company has paid finder's fees comprised of a cash commission in the amount of $600,000 and warrants (\"Finder Warrants\") to purchase up to 1,200,000 Common Shares (\"Finder Warrant Shares\") at an exercise price of C$0.50 until March 10, 2027.Net proceeds from the Private Placement are intended to be used to continue the growth of the Company's organic and fair-trade fruit and vegetable products platform, to further develop the Company's technology platform, and to support general working capital requirements, and may also be used to repay part of the Company's short-term debt.The Common Shares, Warrants, Finder Shares and any Warrant Shares and Finder Warrant Shares issued upon exercise of the Warrants and Finder Warrants, as applicable (collectively, the \"Securities\"), are subject to a hold period and may not be traded until January 11, 2026, except as permitted by appliable securities legislation. Further, all Securities issued pursuant to the Private Pla...