Organto Foods plans up to C$2.54 million private placement of shares

Proceeds to support Argentina build-out, Guatemala operations growth

By Wendy Van Sickle

Columbus, Ohio, May 16 – Organto Foods Inc. plans an up to C$2.45 million non-brokered private placement of common shares, according to a press release.

The company will sell up to 7 million common of common shares at C$0.35 apiece.

Proceeds will be used to advance Organto’s build-out of Argentina, expand its existing operations in Guatemala and for general working capital purposes.

The private placement is subject to approval by the TSX Venture Exchange.

Vancouver, B.C.-based Organto provides organic produce from its farms and greenhouses mostly located in Guatemala.

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