VANCOUVER, Dec. 19, 2018 /CNW/ - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) ("Organto" or "the Company"), an integrated provider of value-added organic vegetable and fruit products today announced results from its 2018 Annual General Meeting that was held on December 18, 2018 in Vancouver, British Columbia.
Approximately 35% of eligible outstanding shares were voted with all matters before the meeting receiving in excess of 98% support.
Shareholders elected six directors including Steve Bromley, Peter Gianulis, Robert Giustra, Jeffrey Klenda, Javier Reyes and Claudio Schreier. Mr.'s Giustra, Klenda, Reyes and Schreier were elected as independent directors, representing 66.67% of the directors elected to the board.
The shareholders also approved the appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as Organto's independent auditor for the ensuing year, resolved that the Share Option Plan be ratified and approved for continuation until the next Annual General Meeting, and approved the issuance of 1,066,666 common shares of the Company in lieu of cash consideration for services rendered by Andres Barresi in his capacity as former Chief Operating Officer of the Company.
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 is an integrated provider of year-round value-added branded organic vegetables and seasonal organic and non-GMO fruit and vegetable products serving a growing socially responsible and health conscious consumer around the globe. Organto has also recently expanded into medicinal cannabis in order to capture expected global growth in this sector and leverage Organto's diverse sourcing, processing, logistics, import, export and organic certification expertise. Driven by consumer demand for healthy and organic food products, its organic foods business operates an integrated business model with sourcing, logistical and processing capabilities, providing complete traceability from the table back to the field. Operations are currently located in Guatemala, The Netherlands and the USA, as well as third-party supply from a variety of regions, with plans to continue to expand supply capabilities via strategic third-party growers and processors in Africa, Mexico and other growing regions. Organto's medicinal cannabis operations were recently established with the acquisition of Medicannabis S.A.S. based in Colombia. Subject to receipt of required licenses which have been applied for, Organto plans to cultivate, process and sell medicinal cannabis initially in the Colombia market. 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.
SOURCE Organto Foods Inc.
For further information: Investor Relations, 1-888-818-1364, [email protected]