11:04:03 EST Thu 21 Feb 2019
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or Name

Organto Foods Inc
Symbol C : OGO
Shares Issued 112,263,903
Close 2018-07-11 C$ 0.08
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Organto Foods signs MOU with Mexican organics supplier

2018-07-12 09:37 ET - News Release

Mr. Steve Bromley reports


As part of its strategy to significantly develop organic product supply from Mexico, Organto Foods Inc. has signed a memorandum of understanding with an established supplier of organic avocados and other organic fruits and vegetables from the region.

This agreement represents another step in Organto's efforts to develop supply from a region with significant presence and expertise in organic fruits and vegetables, bringing together Organto's technical knowledge and go-to-market expertise, the strategic supply partner's existing infrastructure, technical knowledge and growing expertise, and the financial resources of Accendo Banco, a progressive Mexican-based financial institution. Accendo Banco is an established strategic lender to numerous farming clients throughout Mexico, committed to lending to progressive growers and processors to support continued development of sustainable long-term supply from the region.

Product shipments from this strategic supply source are expected to commence late in the third quarter of 2018 and are expected to ramp up as the existing orchards mature and their growing capacity increases. Organto is focused on expanding its supply of organic vegetables and fruits from Mexico and recently announced that it had also signed a memorandum of understanding with another strategic supplier from Mexico for the supply of organic blackberries, blueberries, and other organic fruits and vegetables.

"We are very pleased to be working with our new supply partner as we add organic avocado to our product portfolio. Demand for organic avocado continues to grow globally and we believe we will be well positioned in this expanding market," commented Steve Bromley, chair and interim chief executive officer of Organto Foods. "We remain excited by the immense supply potential from Mexico and are pleased to be working with our new supply partners in the region as we expand our sourcing and supply platform to meet the growing demand for fresh organic vegetable and fruit products."

The addition of this new supply source and expanded product array is part of Organto's strategy to expand beyond its value-added organic vegetables product offering and supply capabilities. The addition of new supply relationships focused on organic soft, tropical and exotic fresh fruits such as organic blueberries, organic blackberries, organic avocado, organic passion fruit and organic mangos, as well as other organic vegetables, are expected to expand revenue streams, deepen supply relationships with strategic growers in key supply markets, expand market presence and develop incremental opportunities for Organto "I am Organic" branded products and private label 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 vegetables products serving a growing socially responsible and health conscious consumer around the globe. Organto employs a business model that is integrated from the "table to the field." Driven by consumer demand for healthy and organic food products, it operates an integrated business model with sourcing, logistical, processing and distribution capabilities, providing traceability from the table back to the field. The company sources supply from strategically located third party suppliers, with plans to continue to expand supply capabilities via further strategic third party growers and processors in Africa, Mexico, South America and other growing regions.

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