Organto Granted Management Cease Trade Order

VANCOUVER, BC and BREDA, NETHERLANDS / ACCESSWIRE / May 1, 2024 / Organto Foods Inc. (TSX-V:OGO)(OTCQB:OGOFF) ("Organto" or the "Company"), a leading provider of organic and non-GMO fruit and vegetable products today announces that further to its April 16, 2024 news release (the "Announcement"), its principal regulator, the British Columbia Securities Commission, has accepted the Company's application for, and has granted, a management cease trade order (the "MCTO"). As previously announced, the Company applied for the MCTO in order to secure additional time to finalize its annual financial statements and management's discussion and analysis for the fiscal year ended December 31, 2023 and the applicable CEO and CFO certifications (collectively, the "Annual Filings"), which were due on April 29, 2024. The delay in filing the Annual Filings is a result of unexpected delays experienced by the Company due to personnel changes in late December 2023.

During the MCTO, investors will continue to be able to trade in common shares in the capital of the Company. However, the MCTO restricts the Company's Co-Chief Executive Officers and Chief Financial Officer from all trading in securities of the Company until such time as the Annual Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.

The Company is working with its accounting team to prepare the Financial Statements and respond to all queries. It is the Company's reasonable expectation that the Annual Filings will be finalized on or before June 28, 2024.

Until the Annual Filings are filed, the Company intends to comply with the provisions of the alternative information guidelines as set out in National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release.

The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) there has not been any other specified default by the Company under NP 12-203; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.