Organic Cafe Chain Nets Financing

SEATTLE—Organic To Go™ (OTCBB:OTGO)—which operates retail cafés in Washington and California featuring foods with organic ingredients—has closed its recently announced equity private placement made by institutional investors. The $6.7 million financing consisted of the sale of 3.35 million shares at $2.00 per share, with five-year warrants to purchase 1.34 million shares of common stock at an exercise price of $2.50. “The funds are targeted to continue our growth strategy,” said Jason Brown, CEO. “We are actively pursuing entry into a new geographic market in Southern California. At the same time, we continue the expansion in our existing territories of our corporate catering services and the build-out of additional retail cafes and outlets in existing corporate centers and universities. As previously announced, we anticipate that we will open our next two cafes in Woodland Hills, Calif., which will bring us to 15 Organic To Go cafes in Washington and Southern California.”