TORONTO, June 02, 2023--(BUSINESS WIRE)--ORAGIN Foods Inc. ("ORAGIN" or the "Company") (TSXV: OG) (OTC: OGGFF) (FRA: 9CW) wishes to announce that, effective June 5, 2023, the Company will move to the NEX Board ("NEX"), the subsidiary board of the TSX Venture Exchange (the "Exchange") under the symbol OG.H, for not meeting Exchange requirements. The Company’s shares will continue to be suspended from trading until further notice.
For additional information on the reasons for the Company’s suspension please refer to the Company’s news releases dated November 23rd and 24th, 2022 and January 20th, 2023.
The Company confirms that, other than as disclosed in this and prior press releases and material change reports, there have been no material business developments since the filing of the Company’s prior latest interim financial reports for the period ended July 31, 2022. The Company’s subsidiaries continue to operate in normal course.
Matt Lurie, CEO of ORAGIN stated, "Both our retail and CPG divisions continue to operate normally and the Company has sufficient cash on hand to meet its day-to-day obligations pertaining to all areas of business. This move to the NEX from the Exchange was expected as part of the process the Company is working through and its positioning for long-term value."
About Oragin Foods Inc.
Oragin Foods Inc. (TSXV: OG) (OTC: OGGFF) (FRA: 9CW) is a Canadian multi-pronged food company where new and innovative food and beverage brands are developed, acquired, grown and commercialized through a Consumer Packaged Goods (CPG) Division. The company also houses a Retail Division which owns and operates one of Canada’s leading natural and organic food retailers, Organic Garage. For more information please visit the Oragin website at www.oragin.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of Oragin Foods, that may cause the actual results, level of activity, performance or achievements of Oragin Foods to be materially different from those expressed or implied by such forward looking statements. Although Oragin Foods has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company is making forward looking statements in this news release regarding providing future material updates; having sufficient cash for operations for all areas of business; and positioning for long-term value.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Oragin Foods’ actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, Oragin Foods assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
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