Organto Foods Announces Capital Raise

Organto Foods (TSE:OGO) has released an update.

Organto Foods Inc. has announced a private placement to raise CDN $575,000 through the sale of 5,750,000 common shares at CDN $0.10 each, with a significant portion being acquired by Chair and Co-CEO, Steve Bromley. Following the placement, Bromley’s ownership will increase to approximately 18-19% of the company’s shares. The funds are earmarked for critical working capital needs and the placement is contingent on TSX Venture Exchange approval.

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