Announces Investor Update Call for Wednesday, March 18, 2020 at 11:00 am EST
VANCOUVER, BC / ACCESSWIRE / March 18, 2020 / Organto Foods Inc. (TSXV:OGO)(OTC:OGOFF) (“Organto” or “the Company”), an integrated provider of fresh organic vegetables and fruits today provided an update on commercial operations during the COVID-19 pandemic. Steve Bromley, CEO, Rients van der Wal, COO & CEO of Organto Europe B.V, and Peter Gianulis, Executive Vice President, will be hosting an investor call on Wednesday, March 18, 2020 at 11:00 am EST to discuss current market conditions and operations during the pandemic.
Business Operations During COVID-19 Pandemic
With the health and wellness of the Company’s personnel, customers, business partners and communities top of mind, all personnel working from Organto’s commercial office located in Breda, the Netherlands plus other international locations are working remotely and are not required to attend offices. In addition, all business-related travel has been suspended and technology is being utilized to facilitate ongoing communications with personnel and commercial partners. The Company’s information technology and communication systems permit full operational and administrative capabilities from remote locations and are working as intended per the Company’s continuity plan.
Demand for food at retail locations remains strong throughout key European markets, as consumers shift from eating outside the home to eating at home during the pandemic. Governments are focused on keeping essential businesses operational including retail foods businesses, and to this point there have not been disruptions in the Company’s supply chains. While some European countries have closed their borders to human traffic, to this point essential commercial cargo has not been significantly impacted and continues to flow across international borders. Demand for Organto’s key products is very strong, and the Company believes its supply chain is well positioned to continue to provide nutritious organic food products as all customers, suppliers, warehousing and logistics partners continue to operate. Every effort is being taken to ensure that critical foods supply is maintained during these difficult times and into the future, in order to meet this increased demand.
Organto continues to carefully monitor developments and will adapt further policies and practices and update stakeholders as new information becomes available.
Investor Update Call – Monday, March 18, 2020 at 11:00 AM EST
Organto plans to host a conference call at 11:00 AM EST on Wednesday, March 18, 2020 to discuss current market conditions and operations during the pandemic period. After opening remarks there will be a question and answer period. This call may be accessed through one of the following numbers:
U.S.: +1 929 436 2866
Canada: +1 647 558 0588
Please enter the following Meeting ID#459706742. Alternatively, you can enter the Zoom portal by the following link at https://zoom.us/j/459706742.
ON BEHALF OF THE BOARD,
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.
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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.
FORWARD LOOKING STATEMENTS
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). In particular, and without limitation, this news release contains forward-looking statements respecting Organto’s business model and markets; Organto’s commitment to the health and wellness of its personnel, customers, business partners and communities; Organto’s belief that demand at European retail remains strong; Organto’s belief that certain governments are focused on keeping food retail businesses and supply chains operational; Organto’s belief that supply chain partners will continue to operate and the Company is well positioned to provide nutritious organic foods products; management’s beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto’s business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
SOURCE: Organto Foods Inc.
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