Deepens Mexican Supply Chain Expertise
VANCOUVER, July 3, 2019 /CNW/ - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) ("Organto" or "the Company"), is pleased to announce that Alejandro Maldonado, an agricultural veteran in Mexico, has agreed to join the Organto board of directors, subject to approval of required documentation by the TSX Venture Exchange. Jeff Klenda, a current member of the board of directors will be stepping down effective immediately.
Alejandro Maldonado is President and Chairman of Alpasa Farms, a strategic supply partner of Organto, and one of the largest exporters of blueberries, blackberries and figs from Mexico. Alpasa is also a strategic investor in Organto. Alejandro is the President of the Berry Growers Association of Mexico and his family has deep roots in the Mexican avocado industry, being one of the largest producers of avocados from the Michoacán region of Mexico. He is a current delegate for the Association of Producers and Packers of Avocado in Mexico (APEAM), a private, non-profit association made up of avocado exporters and packers; and the only cooperative recognized by the USDA and SAGARPA. His deep industry knowledge and supply chain expertise is expected to be an invaluable asset to Organto.
"We are excited to add Alejandro to our Board as we continue our build-out of our Mexican operations across different product lines. His knowledge of our products, supply chains and growing areas in Mexico will be invaluable for us at the board level." commented Steve Bromley, Chair and Interim CEO. "We want to thank Jeff for all of his contributions to Organto over the past four years and offer him our sincerest best wishes in his future endeavours," added Mr. Bromley.
ON BEHALF OF THE BOARD,
Chair and Interim 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.
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. The Organto Foods Group is an integrated provider of year-round value-added branded organic vegetables and seasonal organic and non-GMO fruit and vegetable products using an asset-light business model to serve a growing socially responsible and health conscious consumer around the globe.
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 integrated supply capabilities and plans to continue to develop and expand these capabilities in Mexico; plans to expand product offerings; Organto's belief that Alejandro Maldonado's knowledge of the Company's products, supply chains and Mexican growing regions will be invaluable; 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.
For further information: Investor Relations, 604-634-0970, 1-888-818-1364, firstname.lastname@example.org