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,
Steve Bromley
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.
ABOUT ORGANTO
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.