Organto Foods Inc.
TSX VENTURE : OGO

Organto Foods Inc.

January 08, 2016 09:00 ET

Organto Announces Planting for Recently Purchased 53-Hectare Organic Farm in Guatemala, Including 3.2 Hectares in Organic Greenhouses

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 8, 2016) - Organto Foods Inc. (TSX VENTURE:OGO) is pleased to provide an update on developments from its Monjas Farm. As previously disclosed in its Filing Statement of November 20th, 2015, Organto has acquired, pursuant to the terms of a 10 year lease to own agreement, a 53-hectare organic farm located in Monjas, Guatemala, from a private landowner. The property includes an existing 3.2 hectare greenhouse that provides Organto with immediate production capabilities in organic beans and related vegetables. Organto has commenced seeding and planting of organic French green beans (haricot verts) and plans to commence shipping the first product from the Monjas Farm in the coming months under the Organto brand.

Over the past two years, Organto (formerly Agricola Nuova Terra) has been delivering a wide-range of fresh produce to clients in North America and Europe. Organto currently has approximately 150 hectares of third party owned conventional farm land planted on a rotating basis under contract in Guatemala. The purchase of the Monjas Farm launches Organto's objective of being the leading vertically integrated, branded organic food company, producing directly from self-owned greenhouses and farmland. Organto is evaluating a number of other acquisition opportunities.

"At a time when quality organic farmland is scarce and in high demand by our competitors, Organto has successfully secured a high quality asset with existing infrastructure," commented Peter Gianulis, President & CEO of Organto. "The organic fresh fruit and vegetable segment continues to experience double-digit growth with limited supply available across numerous segments. We believe that Organto is one of the best-positioned companies in the sector to benefit from this exceptional growth," stated Mr. Gianulis.

ON BEHALF OF THE BOARD,

Peter L Gianulis, CEO and Director

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

This 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 the company's future plans for production and shipping of product; the business, goals and objectives of Organto Foods Inc.; the future prospects for the company and its business; 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: levels of agricultural production; the time frame for completion of agricultural harvesting; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of the company; unforeseen circumstances; risks associated with the organic and conventional produce business; general business and economic conditions; and ongoing relations with employees, consultants, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.

 

Contact Information

  • Organto Foods Inc.
    Investor Relations
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    info@organto.com
    www.organto.com