Organto Foods Inc. Announces 2017 Annual General Meeting Results
Vancouver, B.C. (FSCwire) - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto”), today announced results from its 2017 Annual General Meeting which was held in Vancouver, British Columbia on September 27, 2017.
Approximately 70% of eligible outstanding shares were voted with all matters before the meeting receiving in excess of 99% support.
Shareholders elected Arnoud Maas, Steve Bromley, and Claudio Schreier as new directors and re-elected incumbent directors Robert Giustra, Jeffrey Klenda and Javier Reyes. This increased the size of the board to six directors, an increase of one director, adding significant foods and retail experience to the board and increasing the number of independent directors to 50%.
In addition, shareholders approved the appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as Organto’s independent auditor for the ensuing year and resolved that the Share Option Plan dated for reference September 12, 2013, as amended July 11, 2017, be ratified and approved for continuation until the next Annual General Meeting.
Robert Giustra, Chairman of the Board of Directors of Organto commented, “We’re grateful to our shareholders for their continued support and also take this opportunity to thank Peter Gianulis and Marcus Meurs, who did not stand for re-election, for their dedicated service as directors of Organto. Finally, we would like to welcome the new directors who are joining the board as we continue to build-out and commercialize our vertically integrated year-round organic vegetable platform.”
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.
ON BEHALF OF THE BOARD,
Arnoud Maas
CEO
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) 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
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 with regards to the addition of significant foods and retail experience being added to the board of directors as well as the continued build-out of Organto’s vertically integrated organic vegetable supply platform. 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/Organto09282017.pdf
Source: Organto Foods Inc. (TSX Venture:OGO, OTC Pink:OGOFF)
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