on Organto Foods, Inc. (CVE:OGO)
Organto Foods Issues Shares to Complete Fee Payment to Jaluca Limited
Organto Foods Inc. has finalized the issuance of 4,380,000 common shares to Jaluca Limited. Each share was valued at $0.10, following approval from uninvolved shareholders and the TSX Venture Exchange. Shareholders controlling over 71% of Organto's common shares consented to this action.
This issuance fulfills a compensation agreement with Jaluca for their advisory role in Organto's restructuring processes, including debt reduction and refinancing. The shares have a hold period until November 17, 2025, barring exceptions under securities law.
In 2024, Organto implemented a bonus program for its management, tied to performance goals. Bonuses, worth $822,000, will be distributed 70% in equity and 30% in cash. Achievements in 2025 led to the start of share issuance, pending TSXV's approval.
R. P.
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