Quantcast
 
New ETF Book by Larry Connors - Click here to read more


 

Organic To Go Enters Into Agreement with Inventages Wealth Management to Close $5 Million Convertible Debt Financing

Wed. February 11, 2009; Posted: 02:27 PM
Stocks RSS
SEATTLE, Feb 11, 2009 (BUSINESS WIRE) -- OTGO | Quote | Chart | News | PowerRating -- Organic To Go(TM) (OTCBB: OTGO | Quote | Chart | News | PowerRating) announced today that it has signed a definitive agreement to sell a $5 million secured convertible promissory note to Inventages Wealth Management Inc., one of the world's largest life-sciences, nutrition and wellness focused venture capital funds with $1.5 billion under management. The financing is expected to close within seven business days.

As part of the agreement, Inventages will convert $10 million of existing notes into Common Stock of the Company. In addition, the maturity date of the $3 million note which was issued to Inventages on December 2, 2008 has been extended until March 17, 2010, to coincide with the maturity date of the $5 million secured convertible promissory note.

Jason R. Brown, CEO, said, "This latest investment by Inventages, our largest investor, demonstrates its continued belief not only in the organic foodservice business segment, but in the significant long-term growth potential of Organic To Go and our business model. This cash infusion will provide support to weather the current economic climate and will allow us to emerge, as the economy improves, better positioned to develop and expand our business. While we have grown from an idea to a chain of cafes in Seattle, Southern California and Washington, DC in the past 4 years, we believe we have only scratched the surface of opportunity surrounding feeding people delicious, fresh prepared food where they work and go for higher education. We continue to see tremendous opportunity in the years ahead in our core business of cafes and catering as well as in 3rd party sales relationships at airports and within universities.

"In February 2008 we made the decision to partner with Inventages, which includes Nestle as its largest investor, as we felt adding an experienced food & beverage investment partner was the right next step in the further development of our existing branded corporate, foodservice and retail businesses. Today's action by Inventages shows how right we were," Brown concluded.

About Inventages

Inventages Wealth Management Inc. (www.inventages.com) is one of the largest Venture Capital/Private Equity firms specializing in life sciences, nutrition and wellness with more than $1.5 billion under management. Inventages' investment focus includes health and wellness, innovative food, nutrition, nutraceuticals, medical food, cosmeceuticals and pharmaceuticals. The company operates out of three offices around the globe, in Geneva, Auckland and Nassau.

About Organic To Go

Based in Seattle, Organic To Go is the nation's first fast casual cafe chain to be certified organic by the USDA with locations in Seattle, Los Angeles, San Diego and the Washington, DC metropolitan area. Organic To Go's delicious organic food is currently available in more than 170 locations including 33 cafes, more than 120 wholesale locations, 15 universities, 9 locations at Los Angeles International Airport and one franchise cafe scheduled to open soon at the San Diego International Airport. The company's multi-channel business model includes Retail, Corporate Catering and Wholesale operations. Organic To Go's mission is to become the leading branded provider of certified organic and natural, soups, salads, sandwiches, pizzas, entrees and other food products to corporate, university and other institutional customers in selected urban areas nationwide. All Organic To Go fare is always natural, free of harmful chemicals and created with care. For more information, visit www.organictogo.com.

This press release includes statements that may constitute "forward-looking" statements. Forward-looking statements include statements that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the company's current and future products and services in the marketplace, the ability of the company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release.

SOURCE: Organic To Go

IR Contact: Bibicoff + MacInnis, Inc. Terri MacInnis, 818-379-8500 terri@bibimac.com

For full details for OTGO click here.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Most Popular News
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.