Organto Foods Announces Early Debenture Prepayment

Organto Foods Inc. has declared its intention to prepay outstanding convertible debentures to strengthen its financial position. The prepayment concerns debentures due in December 2024 and early 2025, totaling $2,340,850 with a 10% annual interest rate. Holders have until November 28, 2025, to convert their debentures into common shares at $0.60 per share, should they choose.

If no debentures are converted, Organto expects to pay $2,549,679, which includes principal and interest until the payment date. On the other hand, should all holders exercise their conversion rights, Organto would issue 3,901,417 shares and pay $206,829 in interest.