06:49:49 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Organto investor Antares acquires 67% of debentures

2025-03-11 18:28 ET - News Release

Mr. Steve Bromley reports

ORGANTO FOODS RECEIVES NOTIFICATION OF CHANGE IN OWNERSHIP OF NOVEMBER 2026 8.0% CONVERTIBLE DEBENTURES

Organto Foods Inc. has received notification from Antares Capital Management Ltd., a private corporation, that it has purchased over 67.0 per cent of the company's outstanding five-year 8.0 per cent convertible unsecured subordinated convertible debentures, due Nov. 30, 2026, with an aggregate face value of $8.05-million.

Under the terms of the trust indenture governing the debentures, Antares is required to make an offer to all debentureholders to acquire their debentures on the same terms on which Antares acquired its debentures, which Antares has advised the company it is willing and able to do. As a result, the company will facilitate the co-ordination with Computershare Trust Company of Canada, as the trustee of the debentures, to deliver such offer to all remaining debentureholders. Debentureholders who wish to contact Antares are free to e-mail info@antaresgroup.net.

The company has also committed to engage in discussions with Antares to explore the potential to restructure the terms of the debentures in a mutually acceptable manner.

"We appreciate Antares's transparency in disclosing its position to Organto and the opportunity to explore the benefits of a potential restructuring of the debentures," said Steve Bromley, chief executive officer of Organto Foods. "We are committed to maintaining a productive dialogue to ensure that any negotiated terms align with the best interests of all stakeholders."

Further updates will be provided as discussions progress.

About Organto Foods Inc.

Organto is a leading provider of branded, private label and distributed organic and non-genetically modified fruit and vegetable products using a strategic asset-lighter business model to serve growing socially responsible and health-conscious consumers. 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.

We seek Safe Harbor.

© 2025 Canjex Publishing Ltd. All rights reserved.