Organto Foods Inc. Establishes Organto de Mexico

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Organto Foods Inc. Establishes Organto de Mexico

Canada NewsWire

Positions Company as Premier Exporter of Organic Produce to Europe

VANCOUVER, Dec. 4, 2018 /CNW/ - Organto Foods Inc. (TSXV: OGO) (OTC: OGOFF) ("Organto" or "the Company"), an integrated provider of value-added organic vegetable and fruit products today announced that as part of its ongoing strategy to significantly expand organic product supply from Mexico and position the Company as a premier exporter of organic produce from Mexico to Europe, it has established Organto de Mexico to facilitate the execution of this strategic objective.

Earlier this year Organto announced initial agreements with strategic suppliers of organic blueberries, organic blackberries and organic avocado.  Organto has continued to develop supply from Mexico by working with these initial suppliers, plus developing additional strategic grower and third-party processing relationships, increasing potential supply from the region of various organic soft fruits, avocado and value-added vegetables, resulting in Mexico quickly becoming one of Organto's largest supply regions.     

"We continue to be excited by the immense supply potential from Mexico and are pleased to be working with our supply partners as we expand our sourcing and supply platform to address continued growing demand for fresh organic vegetable and fruit products in European markets and beyond," commented Rients van der Wal, CEO of Organto Europe BV.  "We believe that Mexico offers unparalleled organic growing, processing and supply potential, and believe we are well-positioned to realize on our objective of positioning Organto de Mexico as a premier exporter of organic produce to European markets."  

The establishment of Organto de Mexico represents a key step in developing a meaningful presence in a region with significant expertise in organic fruits and vegetables, bringing together Organto's technical knowledge and go-to-market expertise with the infrastructure, technical knowledge, growing and processing expertise of strategic suppliers and processing partners in the region.         

With the establishment of Organto de Mexico, human and financial resources are being deployed to meet the needs of the growing business in the region.  An office has been established in Guadalajara to manage the operations in the region, working with growers, managing logistics and providing necessary technical and administrative support.  Over time Organto intends to utilize the Guadalajara office to coordinate all Latin American administrative processes. 

ON BEHALF OF THE BOARD,

Steve Bromley
Chair and Interim Chief Executive Officer

 

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.

ABOUT ORGANTO

Organto is an integrated provider of year-round value-added branded organic vegetables and seasonal organic and non-GMO fruit and vegetable products serving a growing socially responsible and health conscious consumer around the globe. Organto has also recently expanded into medicinal cannabis in order to capture expected global growth in this sector and leverage Organto's diverse sourcing, processing, logistics, import, export and organic certification expertise.  Driven by consumer demand for healthy and organic food products, its organic foods business operates an integrated business model with sourcing, logistical and processing 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 third-party supply from a variety of regions, with plans to continue to expand supply capabilities via strategic third-party growers and processors in Africa, Mexico and other growing regions. Organto's medicinal cannabis operations were recently established with the acquisition of Medicannabis S.A.S. based in Colombia.  Subject to receipt of required licenses which have been applied for, Organto plans to cultivate, process and sell medicinal cannabis initially in the Colombia market.  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; Organto's integrated year-round supply capabilities and plans to continue to develop and expand these capabilities; Organto's positioning as a premier exporter of organic produce from Mexico to European markets; plans to expand product offerings; the potential and benefit of incremental supply from Mexico; 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 continued growth in global demand for cannabis products and the continued increase in jurisdictions legalizing cannabis; and the timely receipt of regulatory approval for the acquisition of Medicannabis and their license applications as well as shareholder approval of the Medicannabis transaction. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.

 

SOURCE Organto Foods Inc.

View original content: http://www.newswire.ca/en/releases/archive/December2018/04/c8556.html

Copyright CNW Group 2018

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).