Organto Requests Management Cease Trade Order to Address Financial Filing Delay

Organto Foods Inc., a prominent provider of organic and non-GMO fruits and vegetables, has applied for a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission (BCSC). The company seeks this temporary order due to a delay in filing its audited annual financial statements and accompanying MD&A for the fiscal year that concluded on December 31, 2023.

The cause of the delay is attributed to unexpected personnel changes in late December 2023. Organto is actively collaborating with its accounting team to complete the necessary financial documents and respond to relevant inquiries. Organto anticipates that the required annual filings will be finalized by June 30, 2024.

Organto confirms its commitment to provide bi-weekly updates until the filings are complete. The company has not been affected by any insolvency proceedings and states that there are no undisclosed material concerns affecting its affairs. During the filing delay, an insider trading blackout has been established, and compliance with alternative information guidelines will be maintained as per National Policy 12-203.