Organto Foods Finalizes Financial Moves with Private Placement and Debt Settlement

Organto Foods Inc. has successfully concluded its previously announced private placement, raising C$5,309,991 through the issuance of 53,099,910 common shares at C$0.10 each. This move follows the revocation of a Cease Trade Order by the British Columbia Securities Commission earlier in the year. The total amount included initial tranches received in 2024, which were used for ongoing operations.

In addition, Organto settled debts totaling C$2,243,300 via a shares for debt arrangement, issuing 22,432,990 shares. The company also amended terms on convertible notes, reducing Conversion and Acceleration Prices and extending maturity dates.

Company insiders participated significantly in these transactions, considered "related party transactions" exempt from certain regulatory approvals. Finder's fees were partially paid in shares, and proceeds will support working capital.