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Organto Foods Inc
Symbol OGO
Shares Issued 134,533,133
Close 2018-09-18 C$ 0.14
Market Cap C$ 18,834,639
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Organto begins selling organic asparagus in Europe

2018-09-18 10:20 ET - News Release

Mr. Steve Bromley reports

ORGANTO COMMENCES SALES OF ORGANIC ASPARAGUS

Organto Foods Inc. has re-established and expanded its year-round supply of organic asparagus and has commenced sales into the European market. The re-establishment of the organic asparagus program is a key step in the development of Organto's year-round value-added organic vegetables product offering.

Organto's year-round supply program will be supported by strategic growers located in Peru, Argentina and Mexico. Supply has commenced from Peruvian sources and volumes are forecast to increase as additional growers begin their deliveries in the coming months.

"We are very pleased to have re-established our organic asparagus program, adding to our current organic fruits and vegetables sourcing and supply platform," commented Rients van der Wal, chief executive officer of Organto Europe BV. "Demand for organic asparagus continues to grow globally and we believe this is a great addition to our product lineup. We are excited to be working with these new strategic growers and also with suppliers we have worked with in the past, and we believe this will provide our customers with quality and consistent year-round product."

Sales to customers in the Netherlands began in the second week of September. The program is expected to expand as supply increases and other end markets are added, with potential revenues from the sale of distributed and branded I am Organic organic asparagus expected to grow over time to approximately $6-million to $8-million annually.

The addition of organic asparagus to Organto's current product lineup aligns with Organto's strategy to develop and expand its value-added organic vegetable and fruit product offering. As part of its program to diversify its revenue streams and increase its relevance to its customer base, Organto continues to build its supply capabilities in value-added organic vegetables and is also expanding its product offering with a focus on organic soft, tropical and exotic fresh fruits and other organic vegetables. Organto plans to continue to establish new supply relationships with strategic growers to expand its market presence and develop additional opportunities for Organto's I am Organic-branded products as well as private label and distributed product offerings.

About Organto Foods Inc.

Organto is an integrated provider of year-round value-added branded organic vegetables and seasonal organic and non-GMO (genetically modified organism) fruit and vegetable products serving a growing socially responsible and health-conscious consumer around the globe. Operations are currently located in Guatemala, the Netherlands and the United States as well as third party supply from a variety of regions, with plans to continue to expand supply capabilities through strategic third party growers and processors in Africa, Mexico and other growing regions.

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