VANCOUVER, BC / ACCESSWIRE / December 19, 2019 / Organto Foods Inc. (TSXV:OGO)(OTC:OGOFF) (“Organto” or “the Company”), today announced the results from its 2019 Annual General Meeting that was held on December 18, 2019 in Vancouver, British Columbia.
At the meeting 29,611,843 shares representing approximately 17% of eligible outstanding shares were voted with all matters before the meeting receiving in excess of 99% support.
Shareholders elected six directors: Steve Bromley, Peter Gianulis, Robert Giustra, Alejandro Maldonado, Javier Reyes and Claudio Schreier. Mr.’s Giustra, Maldonado, 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 and resolved that the Company’s Share Option Plan be ratified and approved for continuation until the Company’s next Annual General Meeting.
The Company also announced that it has completed the shares for debt transactions originally announced on September 26, 2019 and November 15, 2019 and has issued 2,027,579 common shares of the Company at prices of ranging from $0.055 to $0.065 per share to settle debt in the amount of $123,548. $12,500 of this debt is for management fees to an employee incurred during the period June 2018 to May 2019. The balance of $111,048 is for products and services provided to the Company in 2018. The shares issued under these shares for debt settlements have hold periods ending between April 11, 2020 and December 11, 2020.
ON BEHALF OF THE BOARD,
Chair and Interim Chief Executive Officer
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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. 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.
SOURCE: Organto Foods Inc.
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