on Organto Foods, Inc. (CVE:OGO)
Organto Foods Reinstate Trading on TSX Venture Exchange
Organto Foods Inc. announced the reinstatement of its trading on the TSX Venture Exchange. This follows the resolution of a Failure-to-File Cease Trade Order due to delayed financial statement filings. These delays stemmed from changes in company personnel and systems, affecting both annual and interim statements.
In an effort to streamline operations and improve financial health, Organto reorganized, restructured its European subsidiaries, and shifted strategies. Despite facing a $14.47 million working capital deficiency, Organto plans to address this through debt restructuring and private placements.
Further, related party loans and convertible debenture negotiations are underway, alongside retrospective financial corrections. The company aims to leverage these measures to enhance operational cash flow and shareholder value.
R. H.
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