TORONTO – Organic Garage Ltd. (TSXV: OG, OTCQX: OGGFF, FRA: 9CW1), one of Canada’s leading independent organic supermarkets, would like to thank all participants who attended and listened to the company’s fiscal 2021 financial results webcast and conference call. Both the webcast and the recording of the conference call are available for playback on the Investors of the company website page.
Replay conference call details
The recording of the conference call is also available for playback through July 5, 2021 at 12:00 p.m. ET via the following numbers:
Toronto: 1-416-764-8691 English
Montreal: 1-438-798-3291 Français
Toll Free: 1-877-674-6060 English
Playback Access Code: 032246 #
Conversion of the interest on the obligations into shares
The Company further announced that, in accordance with the terms and conditions of the convertible bond issued on October 25, 2019 (the “Obligations“) The company has agreed, subject to the approval of the TSX Venture Exchange (the” TSXV “), to issue 134,434 common shares (the”Share”) As a settlement of interest payments for $ 71,250.00 accrued between February 1, 2021 and April 30, 2021.
In a press release dated October 25, 2019, the company announced the completion of a private placement offer for the Notes and the terms of such offer. Said terms include the requirement to pay accrued interest on and during the term of the Obligations to their holders within 30 days of each fiscal quarter by issuing ordinary shares at a conversion price equal to the Market Price (as defined in TSXV policies at the time of conversion, subject to approval by TSXV Shares will be issued at $ 0.53 per Share and will be subject to a statutory retention period of four months from the issue date of the Shares. The transaction is subject to approval by the TSXV.
About Organic Garage Ltd.
Organic Garage (TSXV: OG, OTCQX: OGGFF, FRA: 9CW1) is one of Canada’s leading independent organic supermarkets and is committed to offering its customers a wide selection of natural and healthy products at affordable prices every day. The Company’s stores are located in premier retail locations designed to provide customers with an inclusive, unique and value-focused grocery shopping experience. Founded in 2005 by a fourth generation grocer, Organic Garage is based in Toronto. The company is focused on continuing to expand its retail presence in the greater Toronto area. For more information, visit the Organic Garage website at www.organicgarage.com.
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 release.
This press release does not constitute an offer to sell or a solicitation of an offer to purchase any of the securities described in the United States. The securities described in have not been registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), or any state securities law and may not be offered or sold. in the “United States”, as such term is defined in Regulation S promulgated under the US Securities Act, unless registered under the US Securities Act and the laws of applicable state securities or an exemption from such registration requirements is available.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively referred to 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”, “continuing”, “In progress”, “estimate”, “prospect”, “expect”, “may”, “will”, “project”, “should” or similar words, including the negative aspects thereof, suggesting future results.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, many of which are beyond Organic Garage’s control, which may cause Organic Garage’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied in such forward-looking statements. Although Organic Garage has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results to be not as anticipated, estimated or anticipated.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some of which are described in. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Organic Garage’s actual performance and results to differ materially from any future performance projections or results expressed or implied in such forward-looking statements. All forward-looking statements are made as of the date hereof and, except as required by law, Organic Garage does not undertake any obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.