U.S. Markets closed

Organto Foods Inc. - Medicannabis Update

VANCOUVER , Aug. 9, 2019 /CNW/ - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) ("Organto" or "the Company").   Further to its news release of August 6, 2019 , the Company wishes to clarify that Medicannabis S.A.S. is not a former subsidiary of the Company in that the transaction to sell that company to Xebra Brands Ltd. has yet to close. In that regard certain closing conditions, including the acceptance of the TSX Venture Exchange, remain to be satisfied.

As required by Policy 5.1 of the British Columbia Securities Commission, the Company also wishes to advise that the following insiders of the Company hold the following number of shares in Xebra Brands Ltd. (which company has a total of 92,593,530 shares outstanding): Robert Giustra (Director) 5,500,000 shares; Steve Bromley (Chairman) 1,750,000 shares; Peter Gianulis (Director) 500,000 shares; Claudio Schreier (Director) 500,000 shares.

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.   

SOURCE Organto Foods Inc.


View original content: http://www.newswire.ca/en/releases/archive/August2019/09/c8318.html