Following the successful launch of the Company’s first plant-based CPG brand Future of Cheese, and the continued year-over-year growth of the Company’s retailer Organic Garage, the parent Company has changed its name to ORAGIN Foods Inc. and will now evolve both its Retail division and CPG division, each with the resources and expertise to provide streamlined growth and expansion for both areas of the Company.
TORONTO, February 22, 2022--(BUSINESS WIRE)--Oragin Foods Inc., (formerly Organic Garage Ltd.) (TSXV: OG) (OTCQX: OGGFF) (FRA: 9CW1) ("ORAGIN" or the "Company") is pleased to announce that it has changed the company name from Organic Garage Ltd. to ORAGIN Foods Inc. This comes following the successful growth of both its retailer Organic Garage, one of Canada’s leading independent organic grocers, and the Company’s newly acquired plant-based cheese company Future of Cheese, which successfully launched its first line of products in the last quarter of 2021 and has gained significant consumer interest and traction including its latest product, a plant-based ripened Brie, which was recently named "World’s most realistic vegan Brie!" – by US based VegNews.
"This is a very exciting time for our Company and our shareholders as we evolve into ORAGIN," said Matt Lurie, President of ORAGIN. "Our vertically integrated ecosystem will allow us to develop, acquire and commercialize new and existing CPG brands, led by what we view as some of the brightest minds in the industry, and get those products directly into the hands of consumers through our own wholly owned retail locations, as well as through third party distributors and retailers globally."
The Company plans to allocate resources, capital and additional expertise to rapidly growing the CPG side of the business with a significant focus on the US plant-based and retail market, under a newly formed CPG division which will be operated through a wholly owned subsidiary and will include the Company’s existing plant-based brand Future of Cheese. The Company also plans to continue the expansion of Organic Garage, the Company’s wholly owned retail subsidiary.
At the opening of the markets on February 24, 2022, the Company’s common shares will commence trading under the new name ORAGIN FOODS INC. The Company’s stock symbols "OG" and "OGGFF" will remain unchanged. The Company’s new CUSIP number will be 684022106 and its new ISIN number will be CA6840221064. Shareholders will not be required to exchange existing share certificates for new certificates bearing the Company’s new name. The name change does not affect the Company’s share structure or the rights of the Company’s shareholders, and no further action is required by existing shareholders.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Oragin Foods Inc.
Oragin Foods Inc. (TSXV: OG) (OTCQX: OGGFF) (FRA: 9CW1) is a Canadian multi-pronged food company, where new and innovative food and beverage brands are developed, acquired, grown and commercialized through a Consumer Packaged Goods (CPG) Division, the company also houses a Retail Division, which owns and operates one of Canada’s leading natural and organic food retailers, Organic Garage. For more information please visit the Oragin website at www.oragin.webflow.io.
About Future of Cheese
The Future of Cheese Inc is a Canadian plant-based cheese innovator and manufacturer led by one of the world's best and recognized cheese makers, along with one of Canada's top chefs, and supported by a team of science minds and sustainability experts. Utilizing unique aging and manufacturing processes, a well-established distribution network and high-profile marketing channels, the Company is set to disrupt the rapidly growing plant-based dairy alternatives market, paving the way for the future of plant-based dairy alternatives! For more information please visit the Future of Cheese website at www.futureofcheese.com.
About Organic Garage
Organic Garage is one of Canada’s leading independent organic grocers and is committed to offering its customers a wide selection of healthy and natural products at everyday affordable prices. The Company’s stores are in prime retail locations designed to give customers an inclusive, unique and value-focused grocery shopping experience. Founded in 2005 by a fourth-generation grocer, Organic Garage is headquartered in Toronto. The Company is focused on continuing to expand its retail footprint within the Greater Toronto Area. For more information please visit the Organic Garage website at www.organicgarage.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. In this press release, the Company is making forward looking statements with respect to, including but not limited to: the date upon which trading will begin under the name; actions that are or are not to be taken by existing shareholders; the intended direction and business plan of the Company, including the expansion of the Company’s business to include CPG, and related matters, such as allocation of resources and growth, and the impact thereof on the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
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