Organto Expands Supply and Commences Shipments of Organic Sugar Snaps and Snow Peas from Peru
Vancouver, British Columbia (FSCwire) - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto”), a leading vertically integrated provider of value-added branded organic vegetables, today announced that it has commenced delivery of organic snow peas and organic sugar snaps from strategic third party growing and processing operations located in the Andean Highlands of Peru. In May 2017 Organto announced a Supply Agreement with GB Organic for the supply of organic snow peas, sugar snaps and green beans, and this represents the start of deliveries from this strategic supply partner.
The commencement of commercial organic product supply from Peru is an important step for Organto’s vertically integrated year-round supply capabilities and adds much needed supply to address current market demand. Volumes of organic snow peas and organic sugar snaps are expected to increase as additional fields are harvested, and deliveries of organic green beans are expected to commence in mid-November, 2017. Currently all available product supply is being commercialized in European markets. As supply is expected to increase in the coming months, Organto plans to expand commercial distribution to a number of new customers and new markets.
“We are very pleased to have commenced delivery of supply from Peru in partnership with the GB Organic team. This is another key step in the development of our vertically integrated year-round supply model as we now cover both the southern and northern hemisphere production seasons,” commented Arnoud Maas, Chief Executive Officer of Organto. “Continued development of strategic supply from around the globe, including Peru, is key as we develop our year-round value-added vegetable supply capabilities to meet the demands of growing healthy eating markets around the world.”
ON BEHALF OF THE BOARD,
Arnoud Maas
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information contact:
Investor Relations
604-634-0970
1-888-818-1364
info@organto.com
About GB Organic
GB Organic was formed in 2007 and is developing a range of alternative crops in the Andean highlands, an area of Peru where the company is committed to furthering social and economic development. GB Organic manages and exports a wide range of conventional and organic crops and produce, including fresh fruits and vegetables along with processing dried fruits, pulps, juices, frozen and individually quick-frozen fruits and vegetables.
About Organto
Organto is a vertically integrated provider of year-round value-added branded organic produce serving a growing socially responsible and health conscious consumer around the globe. Organto employs a business model that is integrated from the “table to the field”. Driven by consumer demand for healthy and organic food products, it operates an integrated business -model with extensive logistical, processing and growing capabilities, providing complete traceability from the table back to the field. Operations are currently located in Guatemala, The Netherlands and the USA, as well as secured third-party supply from Africa and Peru, with plans to continue to expand year-round supply capabilities via strategic third-party growers and processors in Africa, Mexico and other growing regions. Organto’s business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people and its shareholders.
Forward Looking Statements
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). In particular, and without limitation this news release contains forward-looking statements respecting Organto’s business model, Organto’s business model and markets; Organto’s vertically integrated year-round supply capabilities; beliefs related to current market demand; expected increases of supply from Peru and other locations; management’s beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto’s business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavourable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors, partners and joint venturers. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Organto10232017_1.pdf
Source: Organto Foods Inc. (TSX Venture:OGO, OTC Pink:OGOFF)
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