Organto Foods Expands Private Placement Financing to $5.5 Million

Organto Foods ( (TSE:OGO) ) has provided an announcement.

Organto Foods Inc. has announced an increase in its non-brokered private placement financing from C$5,000,000 to up to C$5,500,000. The company plans to issue up to 55,000,000 common shares at $0.10 per share, with the proceeds aimed at repaying short-term loans and funding general working capital. This move is part of Organto’s broader debt restructuring efforts, which will result in approximately 155,000,000 shares outstanding. Additionally, Organto has granted stock options and restricted share units to certain officers and directors, aligning with its strategic growth and operational plans. The private placement is subject to regulatory approvals and will involve a minimum hold period for the securities issued.

More about Organto Foods

Organto Foods is a leading provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products. The company employs a strategic asset-lighter business model to cater to a growing base of socially responsible and health-conscious consumers. Organto is committed to sustainable business practices, focusing on environmental responsibility and supporting the communities where it operates.

YTD Price Performance: 100.0%

Average Trading Volume: 259,208

Technical Sentiment Signal: Buy

Current Market Cap: C$4.12M

For a thorough assessment of OGO stock, go to TipRanks’ Stock Analysis page.