Vancouver, B.C. (FSCwire) - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto” or “the Company”), a leading vertically integrated provider of value-added branded organic vegetables, today announced the resignation of Erik Kleerebezem, Chief Financial Officer, effective immediately. Mr. Kleerebezem resigned in order to spend more time with his family after unexpected personal issues arose over the past number of weeks.
“It is with much regret that we see Erik leave, and we want to thank him for his contributions during his time with Organto, and also wish he and his family all the best over the coming period.” commented Arnoud Maas, Chief Executive Officer of Organto. “We have retained an interim external resource in the Netherlands with solid financial and operating experience in the foods business and have initiated an international search for a new CFO. We have also retained an experienced financial and governance resource in North America to support the team and have extended our Management Services Agreement through May, 2018 to support completion of the 2017 year-end process.”
ON BEHALF OF THE BOARD,
Chief Executive Officer
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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, sourcing 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 regions in Africa and Peru, with plans to continue to expand year-round supply capabilities via strategic third-party growers and processors diverse 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 and markets; the expectations of the new website being a responsive customer information platform; the acceleration of commercial efforts as supply expands, the commitment to developing a leading organic vegetable brand; and the importance of the website in connecting with consumers. 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; consumer demand will exist for a new organic vegetable brand; 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.
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Source: Organto Foods Inc.
(TSX Venture:OGO, OTC Pink:OGOFF)
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