Vancouver, B.C. (FSCwire) - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto” or "the Company") a leading vertically integrated provider of value added branded organic produce, today announced that it has commenced commercial shipments of organic green beans to COOP Danmark, the largest retailer of consumer goods in Denmark.
The first organic shipments to COOP are an important step in validating Organto’s organic growing operations in Guatemala and its strategic model, which when fully implemented, will supply year-round fresh organic value added vegetables from Guatemala, Uganda, Argentina and other countries.
Organto employs a business model that is integrated from the “table to the field”, with extensive logistics, processing and growing capabilities, providing complete traceability from the table back to the field. The model is unique given its forecast for year-round supply capabilities, strategically positioning Organto to serve the growing healthy foods markets. According to a report from ABN AMRO dated June 23, 2016, “by 2020, it is expected that global organic food consumption will reach US$160 Billion, to reach the expected growth, there must be sufficient supply”.
Organto has received approval for sales of various products from a number of prominent European based retailers, and will commence distribution to these accounts in hand with increased supply as operations expand.
About COOP Danmark
Coop Danmark is the largest retailer of consumer goods in Denmark owned by more than 1.4 million members. Coop also operates numerous retail chains including Kvickly, SuperBrugsen, Dagli’Brugsen, Coop.dk Shopping, Coop.dk MAD and other subsidiaries. Coop Danmark and its subsidiaries combined have an annual turnover of approximately DKK 50 billion (approximately US$7.1 billion) and more than 36,000 employees.
About Organto
Organto Foods Inc. is a leading vertically integrated provider of value added fresh-cut, branded organic produce serving a growing socially responsible and health conscious consumer around the globe. The Company employs a business model that is integrated from the “table to the field”. Driven by consumer demand for healthy and organic food products, the Company operates an integrated business model with extensive logistics, processing and growing capabilities, providing complete traceability from the table back to the field. The Company currently has operations in Guatemala, Argentina, the Netherlands and USA, with plans to continue to expand its year round supply capabilities. The Company’s business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where they operate, their people and their shareholders.
ON BEHALF OF THE BOARD,
Peter L Gianulis
CEO
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 news release.
For more information contact:
Investor Relations
604-634-0970
1-888-818-1364
info@organto.com
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 expected buyers of Organto’s products; management’s future plans to expand and develop the business; future prospects for Organto generally; 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: 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, including inclement weather, unfavourable growing conditions, low crop yields, variations in crop quality, spoilage and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, 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.
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public://news_release_pdf/Organto02242017.pdfSource: Organto Foods Inc. (TSX Venture:OGO, OTC Pink:OGOFF)
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