Delivery of Organic Green Beans
Commences
VANCOUVER, March 7, 2019 /CNW/ - Organto Foods Inc.
(TSX-V: OGO, OTC: OGOFF) ('Organto" or the
"Company"). Organto today announced that its strategic
supply partner in Zimbabwe has
received organic certification for lands to be devoted to exclusive
production of organic vegetables for Organto, and as a result
Organto has commenced receipt of supply of organic green beans for
the European market.
Organto's strategic supply partner in Zimbabwe is an established supplier of
conventional and organic fruits and vegetables. In late 2018,
Organto entered into a five-year agreement whereby Organto would
have exclusive sales rights for certain organic products produced
by the supply partner, initially focused on value-added year-round
organic vegetables, including organic green beans, organic snow
peas and organic sugar snaps. The receipt of these licenses
represented the final step in the approval process and deliveries
to Organto have now commenced. The certifications from
Eco-Cert S.A. cover two growing operations located in separate
provinces offering diverse climatic features, critical as
year-round supply of value-added vegetables is established.
"We are pleased that our supply partner has now received organic
certification for these growing operations, and we are excited to
commence delivery of organic green beans, which will be followed by
other value-added organic vegetable and fruit products. Our supply
partner has also started planting organic snow peas and organic
sugar snaps and we expect to have these products available for
commercial distribution in mid-May, 2019." commented Steve Bromley, Chair and Interim CEO of Organto
Foods Inc. "We have been challenged in the past by
supply/demand imbalances on these products, so we are looking
forward to adding this strategic supply to our year-round branded
and distributed products platform."
Organto also plans to add organic soft fruits, other organic
vegetables including organic asparagus tips plus root crops, such
as organic ginger, in alignment with Organto's strategic business
model, and as a second phase to this strategic relationship.
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'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. Organto is
comprised of two independent business units, i) the Organto Foods
Group, and ii) the Organto Global Cannabis Group. The Organto Foods
Group is an integrated provider of year-round value-added branded
organic vegetables and seasonal organic and non-GMO fruit and
vegetable products using an asset-light business model to serve a
growing socially responsible and health conscious consumer around
the globe. The Organto Global Cannabis Group is focused on the
growing market for medicinal cannabis around the world, with
initial efforts focussed on key regions of Latin America, utilizing low-cost natural
growing operations and a diverse and exclusive IP seed library to
deliver the medicinal properties consumers expect.
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 current business model and related expertise;
Organto's belief that this new supply source will help address
supply/demand imbalances from the past for products contracted;
Organto's plan to expand supply from the region to organic include
soft fruits, other organic vegetables and organic ginger;
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; 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, unfavorable 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 and
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.
SOURCE Organto Foods Inc.
