Organto Introduces ORO Premium Branded Product Offering - Seite 2

Filing of Auditor Reviewed Amended Financial Statements for the Quarter Ended March 31, 2023

Organto also announced today that it has filed auditor reviewed condensed interim consolidated financial statements for the quarter ended March 31, 2023, replacing the original condensed interim financial statements for the same quarter which were filed on May 30, 2023, in line with regulatory requirements. The amended interim consolidated financial statements are available on SEDAR and also on the Company's website under the Investors tab, Financial Statements. The amended interim consolidated financial statements include removal of the Notice of No Review by Auditor as this review has been completed, and a reallocation of intangible assets to property, plant and equipment with no change to total assets, total liabilities or shareholder's deficit on the Condensed Interim Consolidated Statement of Financial Position. There were no changes to the Condensed Interim Consolidated Statements of Comprehensive Loss and Condensed Interim Consolidated Statement of Cash Flows.

Grant of Stock Options and Restricted Share Units

Organto also announced that it has granted a total of 1,300,000 stock options as per the terms of Management Agreements related to the acquisition of NFG New Fruit Group GmbH, and to an Officer of the Company as per the terms of a Consulting Agreement. The stock options were issued as per the terms of the Company's Share Option Plan, with 300,000 having an exercise price of $0.19 and 1,000,000 having an exercise price of $0.135. The options granted have a term of five years and 25% will vest immediately and 25% will vest every anniversary thereafter. In addition, 500,000 restricted share units were issued to an Officer of the Company, as per the terms of a Consulting Agreement, in accordance with the terms of the Company's Restricted Share Unit Plan. The restricted share units have a term of three years and will vest 50% after one year and 25% every six months thereafter.

ON BEHALF OF ORGANTO,

Steve Bromley
Chair and Co-Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For more information about Organto contact:

Investor Relations

[e-mail]
John Rathwell, Senior Vice President, Corporate Development and Investor Relations