VANCOUVER, Dec. 19, 2018 /CNW/ - Organto Foods Inc.
(TSX-V: OGO, OTC: OGOFF) ("Organto" or "the Company"), an
integrated provider of value-added organic vegetable and fruit
products today announced results from its 2018 Annual General
Meeting that was held on December 18,
2018 in Vancouver, British
Columbia.
Approximately 35% of eligible outstanding shares were voted with
all matters before the meeting receiving in excess of 98%
support.
Shareholders elected six directors including Steve Bromley, Peter
Gianulis, Robert Giustra,
Jeffrey Klenda, Javier Reyes and Claudio
Schreier. Mr.'s Giustra, Klenda, Reyes and Schreier
were elected as independent directors, representing 66.67% of the
directors elected to the board.
The shareholders also approved the appointment of Dale Matheson
Carr-Hilton Labonte LLP, Chartered Professional Accountants, as
Organto's independent auditor for the ensuing year, resolved that
the Share Option Plan be ratified and approved for continuation
until the next Annual General Meeting, and approved the issuance of
1,066,666 common shares of the Company in lieu of cash
consideration for services rendered by Andres Barresi in his capacity as former Chief
Operating Officer of the Company.
ON BEHALF OF THE BOARD,
Steve Bromley
Chair and
Interim Chief Executive Officer
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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.
SOURCE Organto Foods Inc.