Organto Foods Inc. Receives Management Cease Trade Order

Organto Foods Inc., a provider of organic and non-GMO fruits and vegetables, announced it has been granted a management cease trade order (MCTO) by the British Columbia Securities Commission. This decision follows the company's April 16, 2024 announcement regarding delays caused by unexpected personnel changes, leading to the need for additional time to finalize its annual financial statements for the year ended December 31, 2023.

The MCTO allows trading by investors to continue but restricts trading by the company's Co-Chief Executive Officers and Chief Financial Officer until the annual filings are completed, which is expected on or before June 28, 2024. Organto assures there has been no material change since their last announcement and no other defaults or insolvency proceedings are in place.

Organto is committed to adhere to National Policy 12-203 guidelines, including issuing bi-weekly default status reports until the necessary filings are made. This step is part of their effort to maintain transparency and compliance during this period.