Organic Garage (TSX-V:OG) Ltd said that it has changed its name to Oragin Foods Inc.
This comes following the successful growth of both its retailer Organic Garage (TSX-V:OG), one of Canada's leading independent organic grocers, and the company's newly acquired plant-based cheese company Future of Cheese, which successfully launched its first line of products in the last quarter of 2021 and has gained significant consumer interest and traction including for its latest product, a plant-based ripened Brie.
"This is a very exciting time for our company and our shareholders as we evolve into ORAGIN," said Matt Lurie, president of Oragin in a statement.
READ: Organic Garage begins selling General Assembly frozen pizzas at its Greater Toronto area stores
Lurie added: "Our vertically integrated ecosystem will allow us to develop, acquire and commercialize new and existing CPG (consumer packaged goods) brands, led by what we view as some of the brightest minds in the industry, and get those products directly into the hands of consumers through our own wholly-owned retail locations, as well as through third-party distributors and retailers globally."
The company said that it plans to allocate resources, capital, and additional expertise to the rapidly growing CPG side of the business with a significant focus on the US plant-based and retail market.
It noted that the newly formed CPG division will operate through a wholly-owned subsidiary and will include the company's existing plant-based brand Future of Cheese. The company also plans to continue the expansion of Organic Garage (TSX-V:OG), its wholly-owned retail subsidiary.
At the opening of the markets on February 24, 2022, the company's common shares will commence trading under the new name Oragin Foods Inc.
The company's stock symbols ‘OG’ and ‘OGGFF’ will remain unchanged. Origin’s new CUSIP number will be 684022106 and its new ISIN number will be CA6840221064.
Shareholders will not be required to exchange existing share certificates for new certificates bearing the company's new name. The name change does not affect the company's share structure or the rights of the company's shareholders, and no further action is required by existing shareholders, the company said.
Contact Ritika at ritika@proactiveinvestors.com