NEW YORK, NY / ACCESSWIRE / June 24, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

GRPN Shareholders Click Here: https://www.zlk.com/pslra-1/groupon-inc-loss-form?prid=7537&wire=1
CEMI Shareholders Click Here: https://www.zlk.com/pslra-1/chembio-diagnostics-inc-loss-submission-form?prid=7537&wire=1
CSPR Shareholders Click Here: https://www.zlk.com/pslra-1/casper-sleep-inc-loss-submission-form?prid=7537&wire=1

* ADDITIONAL INFORMATION BELOW *

Groupon, Inc. (NASDAQ:GRPN)

GRPN Lawsuit on behalf of: investors who purchased November 4, 2019 – February 18, 2020
Lead Plaintiff Deadline : June 29, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/groupon-inc-loss-form?prid=7537&wire=1

According to the filed complaint, during the class period, Groupon, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing fewer customer engagements in its Goods category; (2) Groupon relied on its Goods category to drive its sales, especially during the holiday season; (3) as a result of the foregoing, the Company was likely to experience reduced sales; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Chembio Diagnostics, Inc. (NASDAQ:CEMI)

CEMI Lawsuit on behalf of: investors who purchased March 12, 2020 – June 16, 2020
Lead Plaintiff Deadline : August 17, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/chembio-diagnostics-inc-loss-submission-form?prid=7537&wire=1

According to the filed complaint, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated Chembio's stock price and operated as a fraud or deceit by misrepresenting the efficacy of the Company's Dual Path Platform ("DPP") COVID-19 test. Defendants allegedly achieved this by making false statements about Chembio's DPP COVID-19 test, although they knew or at least recklessly disregarded that there were material performance concerns with the test. When defendants' prior misrepresentations were disclosed and became apparent to the market, the price of Chembio stock fell precipitously as the prior artificial inflation came out of Chembio's stock price.

Casper Sleep Inc. (NYSE:CSPR)

in or traceable to the Company's public offering conducted on or around February 7, 2020.
Lead Plaintiff Deadline : August 18, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/casper-sleep-inc-loss-submission-form?prid=7537&wire=1

According to the filed complaint, (1) Casper's profit margins were actually declining, rather than growing; (2) Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone; (3) Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability; (4) Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach; (5) Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year; (6) as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the documents issued in connection with Casper's initial public offering, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows; and (7) as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 595154

MIAMI, FL / ACCESSWIRE / June 24, 2020 / AllStar Health Brands Inc. (OTC PINK:ALST) a specialty pharmaceutical and nutritional supplements company is pleased to announce that through one of its network of Distributors has obtained a Covid-19 Rapid Antibody Test Import Permit for Peru. Demand for these types of test kits is expected to increase sharply with the high number of coronavirus infections in Latin America.

Dr. Daniel Bagi, President of AllStar stated," The global pandemic has affected Latin America more recently relative to other countries and especially hard, with many countries in the region overwhelmed by both the infection and death rates. We have been working with our distributors to obtain Import Permits in several countries in South America hardest hit by the pandemic, and our first success is in Peru. The Import Permit is the first step towards sales, and we have already discussed volumes and pricing and expect sales to begin in the next few weeks."

About AllStar Health Brands Inc.:

AllStar Health Brands Inc. is a Nevada Corporation established in 2017, and headquartered in Miami, Florida. AllStar is a specialty Health Care Products Company dedicated to improving health and quality of life by offering select products, including medical devices, nutritional supplements, over the counter remedies and medicines all across the Americas and Europe. AllStar's goal is to bring additional products to the market and provide new, innovative options for better health and wellbeing.

For more information, please contact Investor Relations at (305) 423 7028.

Safe Harbor Statement

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.

The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

SOURCE: Allstar Health Brands, Inc.

ReleaseID: 595153

CORAL GABLES, FL / ACCESSWIRE / June 24, 2020 / There's no question about it; penny stocks are red hot this year. Whether you are looking for penny stocks to trade or you were looking at investing in penny stocks, these cheap names have given numerous opportunities to profit. Now, not all penny stocks are worth investing in and not all are suited for short term gains.

However, you are here to learn, get ideas, and most importantly hone your skills. In doing so, your strategy and plan are vital. It may seem like a broken record, but we continue to talk about these two things for a reason. Consistently profitable traders rarely get lucky all the time. They have got a method to the madness that involves real strategy and identifying A+ setups.

But what does that really mean? Well, when you think of the best possible stock set up, a few things should come to mind. First, penny stocks with high volume are typically better than ones without volume. Consistent trading momentum is also a plus. This can be consistently each day or consistently throughout the day (if you are a day trader). Market catalysts do not hurt. Things like penny stock news, filings, industry updates and even rumors can contribute.

Finally, you will want to identify trends. Whether you watch Level 2, charts, or something else, identifying trends can help you find entry and exit points. That all boils down to making money with penny stocks, which is the goal. One last thing: do not forget to take profit. I'll explain later on, but penny stocks can be very volatile, and one update can trigger a dramatic swing in stock prices. So, it is important to take money when it's on the table. With this in mind, can these top penny stocks make new highs before July?

Top Penny Stocks To Buy [or avoid]: Professional Diversity Network (IPDN)

For most traders, Professional Diversity Network (IPDN) might not be familiar. As one of the penny stocks to watch, you might be saying, "I haven't heard about this company at all this year," and you would be correct. Professional Diversity Network stock has not traded one share this year. In fact, (IPDN) stock has not traded a share since last November. So, let me give you a little back story.

Remember earlier this year when Luckin Coffee (LK) was found to have cooked the books and lied about numbers? This smeared the name of China-based stocks in general and posed a lot more questions than were answers. Well, (IPDN) went through a "Luckin Coffee situation" before Luckin. In November, assets of the company's China Unit were seized by police in Guangzhou, China. The Notice of Seizure stated that it was necessary to seize the assets of PDN China in connection with the criminal investigation of alleged illegal public fundraising by Gatewang Group. Since then, NASDAQ has halted shares and carried out its own investigation.

After establishing a special committee to lead an independent investigation, it looks like progress has been made. (IPDN) stock has resumed trading on June 24th. We will have to see how this story unfolds as the company was "exploring alternatives" following the seizures in November. If you head to the company's website, you will see something akin to a monster or indeed. With a new lease on life, what do you think will happen next with (IPDN), and will the penny stock make new highs before July?

Top Penny Stock To Buy [or avoid]: Kitov Pharma (KTOV)

Above I referenced how important it is to watch penny stocks closely. Announcements can seemingly come out of nowhere and trigger a big move. That "move" can go in either direction. Penny stock companies are known for raised "expensive money" I.E. money raised at a steep discount to the stock's price "right now". While companies will file an "at the market" raise, rarely is the market still trading at the price the company filed the specific filing. In the case of Kitov Pharma (KTOV) momentum has been strong, chatter has grown and attention has focused on the company's next move.

Considering all of that, we've watch (KTOV) stock rally this quarter. It was one of the more actively discussed biotech penny stocks in May and June. The focus for Kitov has been on its progress with pain management and immune diseases. The company itself has been focusing on its cancer therapy, NT219 as a therapy for multiple treatment-resistant cancers.

As you will come to learn, pharma development takes a lot of money to conduct trials, development, research, etc. (KTOV) stock dropped from June 23 highs of $1.35 after a mid-day update came out that the company would offer $35 million in stock at a price of $0.90. As you might imagine, shares dropped following this update. But since then, (KTOV) has been back on the rise, recovering from lows of $0.7205 on Tuesday to over $0.90 on Wednesday. Will this mark the turnaround for the penny stock or just a brief glimmer of hope before another slide?

Top Penny Stocks To Buy [or avoid]: iBio, Inc. (IBIO)

iBio Inc. (IBIO) is another one of the penny stocks that turned heads earlier this year. While recent trends are not suggestive of a big mover, IBIO stock was a force to reckon with earlier in 2020. Back in February, the IBIO stock price surged from $0.37 to highs of $3.40 on coronavirus-related headlines. Obviously, this was a time where anything "COVID" was enamoring traders.

But since pulling back from those highs, (IBIO) has been more of a "watch and wait" penny stock. There have been sporadic jumps from time to time. In general, things have been quiet in the market for (IBIO). Earlier this month the company announced the initiation of preclinical immunization studies for its second COVID-19 vaccine platform. However, its most recent update could be the one to consider at least for this week.

On Wednesday, (IBIO) announced it was selected by IBM Watson Health to receive18 months of use of the IBM Clinical Development solution for free. (IBIO) currently anticipates that data from the preclinical immunization studies of its two COVID-19 vaccine candidates, IBIO-200 and IBIO-201 will be available in Q3-2020. Following this update, (IBIO) stock jumped during premarket hours. Will that continue through the rest of the week?

Penny Stocks (PennyStocks.com)

Penny Stocks (PennyStocks.com) is the top online destination for all things Micro-Cap Stocks. On PennyStocks.com you will find a comprehensive list of Penny Stocks & discover the Best Penny Stocks to buy, top penny stock news, and micro-cap stock articles. 2020 is expected to be a huge year for the penny stock market.

CONTACT:

Name: Adam Lawrence
Email: news@pennystocks.com
Phone: (305) 306-3854

Legal Disclaimer

Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MIDAM VENTURES LLC, which owns www.PennyStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. Please Read Our Full Disclosure Located Here: https://pennystocks.com/disclaimer/.

SOURCE: PennyStocks.com

ReleaseID: 595148

NEW YORK, NY / ACCESSWIRE / June 24, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

ProAssurance Corporation (NYSE: PRA)

CONTACT JAKUBOWITZ ABOUT PRA:
https://claimyourloss.com/securities/proassurance-corporation-loss-submission-form/?id=7535&from=1

Class Period : April 26, 2019 – May 7, 2020

Lead Plaintiff Deadline : August 17, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) ProAssurance lacked adequate underwriting process and risk management controls necessary to set appropriate loss reserves in its Specialty P&C segment; (ii) ProAssurance failed to properly assess a large national healthcare account that experienced losses far exceeding the assumptions made when the account was underwritten; and (iii) as a result, ProAssurance was subject to materially heightened risk of financial loss and reserve charges.

Ryder System, Inc. (NYSE: R)

CONTACT JAKUBOWITZ ABOUT R:
https://claimyourloss.com/securities/ryder-system-inc-loss-submission-form/?id=7535&from=1

Class Period : July 23, 2015 – February 13, 2020

Lead Plaintiff Deadline : July 20, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Ryder's financial results were inflated as a result of the Company's practice of overstating the residual values of the vehicles in its fleet; (2) there was no reasonable basis to believe that Ryder would sell its used vehicles for the amounts that it had assigned to them; (3) Ryder's residual values for its fleet of vehicles exceeded the expected future values that would be realized upon the sale of those vehicles; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

CytomX Therapeutics, Inc. (NASDAQ: CTMX)

CONTACT JAKUBOWITZ ABOUT CTMX:
https://claimyourloss.com/securities/cytomx-therapeutics-inc-loss-submission-form/?id=7535&from=1

Class Period : May 17, 2018 – May 13, 2020

Lead Plaintiff Deadline : July 20, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) CytomX had downplayed issues with CX-072's efficacy observed in the PROCLAIM-CX-072 clinical program; (ii) CytomX had similarly downplayed issues with CX-2009's efficacy and safety observed in the PROCLAIM-CX-2009 clinical program; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law

ReleaseID: 595151

SHAREHOLDER RIGHTS INVESTIGATION: Halper Sadeh LLP Continues to Investigate Whether the Following Mergers are Fair to Shareholders; Investors are Encouraged to Contact the Firm – IFF, GRUB, TORC

NEW YORK, NY / ACCESSWIRE / June 24, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh LLP may seek increased consideration, additional disclosures, and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders:

International Flavors & Fragrances Inc. (NYSE:IFF)

The investigation concerns whether IFF and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders in connection with the proposed merger between IFF and DuPont's Nutrition & Biosciences business. If you are an IFF shareholder and would like to learn more about your legal rights and options, please visit https://halpersadeh.com/actions/international-flavors-fragrances-inc-iff-stock-merger-dupont/.

Grubhub Inc. (NYSE:GRUB)

The investigation concerns whether Grubhub and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders in connection with the proposed sale of Grubhub to Just Eat Takeaway.com N.V. If you are a Grubhub shareholder and would like to learn more about your legal rights and options, please visit: https://halpersadeh.com/actions/grubhub-inc-grub-stock-just-eat-merger/.

resTORbio, Inc. (NASDAQ:TORC)

The investigation concerns whether resTORbio and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders in connection with the merger between resTORbio and Adicet Bio, Inc. If you are a resTORbio shareholder and would like to learn more about your legal rights and options, please visit https://halpersadeh.com/actions/restorbio-inc-torc-stock-merger-adicet-bio/.

Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

CONTACT:
Halper Sadeh LLP
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
sadeh@halpersadeh.com
zhalper@halpersadeh.com
https://www.halpersadeh.com

SOURCE: Halper Sadeh LLP

ReleaseID: 595149

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, BC / ACCESSWIRE / June 24, 2020 / Organto Foods Inc. (TSXV:OGO)(OTC:OGOFF) (‘Organto" or the "Company"), an integrated provider of organic and value-added fruits and vegetables announces that the original news release titled "Organto Closes CDN $3.6 Million Over-Subscribed Convertible Note and Equity Financings" and issued earlier on June 24, 2020 referred incorrectly to maturity dates of the convertible debentures and expiry dates of broker warrants as 2020 when in fact they should be 2022.

Below is the corrected news release in its entirety.

Organto Closes CDN $3.6 Million Over-Subscribed Convertible Note and Equity Financings

Reaffirms Expectation to Achieve CDN $20 Million Annualized Revenue and Cash-Flow Breakeven Run Rates This Year

Vancouver, BC, Canada, June 24, 2020 – Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (‘Organto" or the "Company"), an integrated provider of organic and value-added fruits and vegetables today announced the closing of the second and final tranches of its previously announced non-brokered Convertible Note and Equity Financings. Total proceeds of CDN $2,157,500 were included in the second tranches, bringing the total amount to CDN $3,579,195 with CDN $2,075,300 raised via the Convertible Note option and CDN $1,503,895 via the Equity Financing option.

"We are extremely pleased to conclude our financings and as a result are confident this will allow us to leverage the progress we have made in our business and position us for continued exciting growth in the fast-growing healthy eating and organic foods markets. We recently announced that we expect revenues in the second quarter of 2020 to be the largest quarterly revenues in the history of Organto." commented Steve Bromley, Chair and Interim CEO of Organto Foods Inc. "Demand for fresh organic fruits and vegetables continues to grow, driven by increased consumer interest in healthy foods that are produced in a sustainable and transparent manner. We believe our cost-effective and flexible business model has proven its value and that we are well positioned to benefit from this demand. The funds from these financings will be used to expand our supply and range of product offerings and accelerate our growth, enabling our business to ramp up to an annualized revenue run rate of CDN $20 million and achieving cash-flow breakeven by year-end, both key milestones in our strategic plan."

Accendo Banco ("Accendo"), a current strategic investor and lender to Organto, was a key participant in this financing, investing CDN $677,500 in new funds in the Convertible Note financing and reinvesting their current revolving credit facility with Organto in the amount of CDN $677,500 into the Convertible Note. "We truly appreciate the continued support and confidence that Accendo has shown in Organto, and look forward to working closely with them as we execute our plans for the future." Mr. Bromley commented.

A total of CDN $2,075,300 of Convertible Notes were issued in this financing. These notes mature in May and June 2022, carry an annual interest rate of 10% (payable annually), and will be convertible into common shares of Organto at a price of CDN $0.05 per share for one year from the date of issuance and CDN $0.10 per share thereafter until maturity (the "Convertible Notes"). If, at any time after four months from the date of issuance, the closing price of Organto's common shares as traded on the TSX Venture Exchange is equal to or greater than CDN $0.15 for 10 consecutive trading days or more, Organto may, in its sole discretion, accelerate conversion of the Convertible Notes. There is no pre-payment penalty. Organto paid finder's fees of CDN $22,330 in cash and issued 223,300 broker warrants related to the placement of certain of the Convertible Notes. These broker warrants are exercisable at a price of $0.10 and expire in May 2022. Any common shares issued upon the conversion of the Convertible Notes or exercise of the broker warrants will be subject to hold periods expiring in September and October 2020. Included in the Convertible Notes issued were the reinvestment of the revolving credit facility with Accendo Banco in the amount of CDN $677,500, certain short-term loans and accounts payable due to insiders in the amount of CDN $245,750 and CDN $74,550 of promissory notes and interest issued in last year's bridge debt financing (see October 1, 2019 news release).

Funds raised via the Equity Financing option of CDN $1,503,895 were from the sale of 30,077,900 units at CDN $0.05 per unit, with each unit consisting of one common share and one-half common share purchase warrant. Each full warrant entitles the holder thereof to acquire one common share (a "Warrant Share") at a price per Warrant Share of CDN $0.10 with terms of two years expiring in May and June 2022. If, at any time after four months from the date of issue, the closing price of Organto's common shares as traded on the TSX Venture Exchange is equal to or greater than CDN $0.15 for 10 consecutive trading days or more, Organto may, in its sole discretion, accelerate expiry of the warrants. Organto paid finder's fees of CDN $52,073 in cash and issued 520,730 broker warrants related to the Equity Financing. These broker warrants are exercisable at a price of $0.10 and expire in June 2022. The shares issued, as well as any shares issued upon the exercise of the warrants or broker warrants, are subject to hold periods expiring in September and October 2020. Included in the Equity Financing was the settlement of CDN $60,000 of promissory notes issued in last year's bridge financing (see October 1, 2019 news release.

The Convertible Note and Equity Financings remain subject to final acceptance of the TSX Venture Exchange.

2019 and Q-1 2020 Financial Statements

In response to the COVID-19 pandemic, the Canadian Securities Administrators ("CSA") issued a notice on March 18, 2020 stating that securities regulators were providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020. As such the British Columbia Securities Commission ("BCSC") enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements ("BC 51-515").

On April 28, 2020 Organto announced that due to circumstances created by the COVID-19 pandemic, that it would utilize the temporary exemption under BC 51-515 to file its 2019 annual financial statements. On June 15, 2020 Organto filed its annual financial statements and accompanying management's discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2019.

On May 28, 2020, the Company further announced that it would utilize the temporary exemption as provided by the BCSC with regards to the filing of its unaudited interim quarterly financial statements and accompanying management's discussion and analysis for the quarter ended March 31, 2020 ("Interim Financial Reports"). The Interim Financial Reports would ordinarily have been filed on or before June 1, 2020, the required deadline set by NI 51-102. Organto is relying on the exemption provided in BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements ("BC 51-515"), which provides the Company with an additional 45 days to file its Interim Financial Reports, which includes the following continuous disclosure documents:

the Company's unaudited financial statements for the quarter ended March 31, 2020 as required by section 4.4 of NI 51-102; and
the Company's Management's discussion and analysis for the quarter ended March 31, 2020 as required by section 5.1(2) of NI 51-102.

The Company expects to file the Interim Financial Reports no later than July 14, 2020.

Until the Company has filed the Financial Reports and Interim Financial Reports management and other insiders of the Company will be subject to a trading black-out, as described in principle in Section 9 of National Policy 11-207. The Company confirms that since the filing of its annual consolidated financial statements for the year ended December 31, 2019, there have been no material business developments other than those already disclosed through news releases.

Stock Option Grants

Organto also announced that it has granted 130,000 stock options to employees as per the terms of the Company's Share Option Plan, all with a strike price of CDN $0.10 with a term of five years, with 20% vesting immediately and 20% on each anniversary thereafter.

Shares for Debt Settlement

Organto also announced that it has entered into an agreement with a service provider to convert CDN $15,000 of amounts due into common shares of the Company at a price of CDN $0.05 per share, subject to approval of the TSX-V.

ON BEHALF OF THE BOARD

Steve Bromley
Chair and Interim 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 contact:

Investor Relations
604-634-0970
1-888-818-1364
info@organto.com

ABOUT ORGANTO

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. The Organto Foods Group is an integrated provider of year-round branded, private label and bulk distributed organic and non-GMO vegetables and seasonal organic and non-GMO fruit and vegetable products using an asset-light business model to serve a growing socially responsible and health conscious consumer around the globe.

FORWARD LOOKING STATEMENTS

This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's repositioned business model; Organto's belief that the second quarter of fiscal 2020 will be the largest revenue quarter in the Company's history; Organto's belief that demand for fresh organic fruits and vegetables continues to grow; Organto's belief that its cost-effective and flexible business model is well positioned; Organto's belief that the funds raised will expand supply and product offerings, accelerate growth and position the business for a revenue run-rate of $CDN 20 million and cash-flow breakeven exiting 2020; management's beliefs, assumptions and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented; cost increases; dependence on suppliers, partners and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws and similar risks; transportation costs and risks; general business and economic conditions; ongoing relations with distributors, customers, employees, suppliers, consultants, contractors and partners and joint venturers; and risks associated with cannabis operations and receipt of required licenses in Colombia. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.

SOURCE: Organto Foods Inc.

ReleaseID: 595150