Products Now Available at Train Stations Throughout the Netherlands
VANCOUVER, BC and BREDA, the NETHERLANDS / ACCESSWIRE / October 5, 2021 / Organto Foods Inc. (TSX-V:OGO, OTC:OGOFF, FSE:OGF) ("Organto" or "the Company"), an integrated provider of organic and value-added organic fruits and vegetables today announced that it has listed a variety of ready-to-eat organic fresh cut fruits at Julia's, a convenience retail outlet operated by NS Stations.
NS Stations is the organization that together with partners is responsible for managing, operating and developing more than 400 train stations in the Netherlands. Julia's is one of a number of food and non-food retails concepts operated by NS Stations, which serve hundreds of thousands of Dutch commuters on a daily basis.
Organto will provide a variety of tasty, healthy, and seasonal assorted fresh cut fruits in a 100% recyclable, transparent and handy container. The fruits offered will rotate based on seasonality with fresh-cut organic red apple, white grapes and blueberries currently available. These products have been sourced from growers in the Netherlands and other parts of Europe, leveraging carbon-friendly local supply. Together with its valued strategic growers and supply chain partners, Organto controls and monitors each step in the supply chain. Through a combination of QR-codes and internally developed digital product passports, Organto offers 100% transparency by providing among others detailed product source, carbon footprint and nutritional data.
"We are excited to have listed our organic fresh cut fruits at Julia's/NS Stations, as we continue our efforts to make organic fruits and vegetables available for everyone. We strive for the best possible taste and experience, combined with a carbon-neutral footprint. As we like to say "together we can eat the world better"." commented Rients van der Wal, Co-CEO of Organto and CEO of Organto Europe B.V. "Organic fresh cut fruits are a large and growing category, and we feel we can bring added value to consumers via our unique product offering. Our organic fresh cut fruits are available in a convenient on-the-go format using an impactful branded pack design with a striking, playful look and feel."
"At NS, our beliefs are focused on providing healthy, plant-based food to travellers in a convenient way. We are conscious about food waste and sustainable packaging and want to bring this ambition forward more prominently." says Marjolijn Somers-Stucki, Category Manager, Retail, NS Stations. "We believe it is important to provide high-quality, healthy products, in combination with our ambition to make the responsible choice easy for our travellers. At Julia's we want to ensure that travellers can get their favorite foods quickly and easily. Within a few minutes, travellers can be on their way to the train with a delicious snack, any time of the day. In the morning, travellers can enjoy a delicious espresso or cappuccino. For lunch there are fresh sandwiches. In the evening, travelers can choose from various pastas. The addition of fresh organic fruits is a logical any time-of-day extension to our product offering. I AM Organic is a perfect fit, as they provide top quality and tasty fruit, they communicate 100% transparently in their engaging digital passports, and they are sustainable and fair. Together we can realize positive impact."
Clarification of Proposed Acquisition of Beeorganic B.V.
On September 29, 2021, Organto announced that it had signed a Letter of Intent ("LOI") to acquire 100% of the outstanding shares of Beeorganic B.V., a Netherlands based provider of fresh fairtrade organic bananas, subject to completion of final due diligence, definitive agreements and acceptance of the TSX Venture Exchange. The September 29, 2021 news release incorrectly stated the value of the shares to be issued as part of the transaction as €300,000 rather than the correct amount of €400,000. Under the terms of the LOI, at closing Organto will pay €600,000 in cash and issue common shares of Organto worth €400,000. The common shares issued will be subject to escrow provisions and become freely tradable in equal amounts over three years. In addition, a former owner of Beeorganic will be eligible for cash earn-out payments of up to €150,000 based on pre-established growth targets to be met over a three-year period.
Grant of Stock Options and Restricted Share Units
Organto also announced that it has granted 300,000 stock options and 75,000 restricted share units to a director as per the terms of the Company's Share Option and Restricted Share Unit plans. The options have a term of five years and an exercise price of CDN $0.42. Both the options and the restricted share units will vest 25 per cent immediately and 25 per cent every six months thereafter.
ON BEHALF OF THE BOARD,
Steve Bromley
Chair and Co-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.
For more information contact:
Investor Relations
[email protected]
ABOUT ORGANTO
Organto is an integrated provider of branded, private label and distributed organic and non-GMO fruit and vegetable products using a strategic asset-light business model to serve a growing socially responsible and health-conscious consumer around the globe. 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.
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 business model and markets; Organto's belief that fresh cut organic fruits are a large and growing category; Organto's belief that consumers are seeking great tasting foods with unique health benefits; Organto's belief that they can bring added-value to consumers via its unique product offering and branded I AM Organic digital product passport technology; 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 and product supply will be increased; 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. 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.