VANCOUVER, BC and BREDA, PA NETSOS BAIXOS / ACCESSWIRE / June 2, 2021 / Organto Foods Inc. (TSX-V: OGO) (OTC PINK: OGOFF) (ESF: OGF) (‘Organto’ or ‘the Company’), an Integrated supplier of organic and value-added organic fruits and vegetables announced today that its shares they are already eligible for electronic clearing and settlement in the United States through the Depository Trust Company (‘DTC’).
DTC is a subsidiary of the Depository Trust & Clearing Corporation, one of the world’s largest securities depositories, and manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that can be electronically cleared and settled through the DTC are considered “DTC-eligible.” This reduces costs and speeds up the process of liquidating investors and brokers, allowing a larger group of brokerage firms to trade shares in compliance with DTC rules.
“Making our shares eligible for electronic clearing and settlement in the United States is an important step in our strategy that we believe will expand our base of potential investors in the United States,” commented Steve Bromley, President and CEO. “Given our unique positioning in fast-growing healthy food markets combined with the strong growth we have been and are experiencing, we look forward to introducing Organto to additional investors in the United States and making our stock more accessible to them.”
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Organto is an integrated supplier of private label and non-GMO organic and non-GMO fruit and vegetable products, using a strategic business model that serves as a light to serve a socially responsible and health-conscious consumer worldwide. Organto’s business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and commitment to the communities in which it operates, its people and its shareholders.
This press release may include certain information and forward-looking statements, as defined by law, including, without limitation, Canadian securities laws and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act. (“forecast statements”). In particular, and without limitations, this release contains forward-looking statements about Organto’s business model and markets; Organto’s belief that DTC eligibility will reduce costs and speed up the liquidation process for investors and brokers in the United States; Organto’s belief that having eligible shares for electronic clearing and settlement in the United States will broaden the company’s potential U.S. investor base; management beliefs, assumptions, and expectations; and general economic and business conditions. The forward-looking statements are based on a number of assumptions that may be incorrect, including, without limitation, the following: the capacity and time frame in which the Organto business model will be implemented and the supply of products will be increased; cost increases; dependence on suppliers, partners and contractual counterparties; changes in Organto’s business or prospects; unforeseen circumstances; risks associated with the organic products business in general, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, deterioration, import and export laws, and similar risks; transportation costs and risks; general economic and business conditions; and ongoing relationships with distributors, customers, employees, suppliers, consultants, contractors and partners. The above list is not exhaustive and Organto does not undertake to oblige you to update any of the above except as required by law.
SOURCE: Organto Foods Inc.
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