Business
Organto Foods Announces Increase in Size of Private Placement Financing to $8.0 Million
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 Increase in Size of Private Placement Financing to $8.0 MillionNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / August 19, 2025 / Organto Foods Inc. (TSXV:OGO)(OTCQB:OGOFF) (\"Organto\" or the \"Company\") is pleased to announce that it has increased the size of its previously announced non-brokered private placement financing from 14,000,000 units to 16,000,000 units of the Company (the \"Units\") at price of $0.50 per unit (the \"Private Placement\"), with each Unit consisting of one common share in the capital of the Company (a \"Common Share\") and one-half common share purchase warrant of the Company (a \"Warrant\"), increasing planned gross proceeds from $7,000,000 to $8,000,000. The plan to increase the size of the Private Placement is the result of strong investor demand and reflects continued confidence in Organto's growth strategy.Financing Details:Original Offering (announced July 31, 2025):Offered up to 14,000,000 Units at $0.50 per Unit, each Unit comprising one Common Share and one‑half Warrant.Warrants exercisable at $0.75 per Common Share for 18 months, with acceleration rights if the share price reaches or exceeds $1.00 for ten consecutive trading days.The original raise targeted proceeds of up to $7,000,000.Increase in Size of Private Placement (today's announcement):Organto now proposes to issue up to 16,000,000 Units for gross proceeds of up to $8,000,000.Each Unit remains priced at $0.50, comprising one Common Share and one‑half Warrant.Warrants remain exercisable at $0.75 per Common Share for 18 months, with acceleration rights if the share price reaches or exceeds C$1.00 for ten consecutive trading days.Use of Proceeds:Net proceeds are intended to be used to continue the growth of the Company's organic and fairtrade fruit and vegetable products, further develop the Company's technology platform, and support general working capital requirementsConditions & Approvals:Completion of the Private Placement remains subject to approval by the TSX Venture Exchange.Further, the common shares and warrants issued pursuant to the Private Placement described above will be subject to a hold period of four months and one day from their date of issuance in accordance with applicable Canadian securit...