Organto Foods Inc. (TSXV:OGO) announced a private placement of secured promissory notes for proceeds of CAD 400,000 on January 10, 2020. The notes bear interest at a rate of 12% per annum and will mature on April 3, 2020. The company will also issue 2,051,280 warrants, exercisable for common shares of the company at an exercise price of CAD 0.065 for a period of 12 months. The transaction will include participation from certain arm’s length and non-arm’s length lenders. The transaction is subject to the approval of the TSX Venture Exchange. The company expects to close the transaction on January 15, 2020.