on Organto Foods, Inc. (CVE:OGO)
Organto Foods Updates Strategic Plans Amid Debt Restructuring
Organto Foods Inc. has provided an update on its strategic plans following the lifting of a cease trade order by the British Columbia Securities Commission. As of March 12, 2025, Organto's common shares have resumed trading on the TSX Venture Exchange.
The company has taken steps to streamline operations, target marketing strategies, and reengineer its processes to lower costs and focus on reducing overall debt. Outstanding debts include promissory notes, convertible notes, and debentures, totaling millions of Canadian dollars.
Antares Capital Management Ltd. has acquired a significant portion of Organto's debentures and is in discussions to restructure their terms. Organto plans to seek equity financing to fund operations and has hired Jaluca Limited as an advisor.
Approvals from the Exchange and regulatory bodies are necessary for restructuring. There is no guarantee of success in restructuring efforts.
R. E.
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