Village Farms Intl Inc Stock Price, News & Analysis

Village Farms International (NASDAQ: VFF) announced that its subsidiary, Pure Sunfarms, has completed its first export of high-THC dried flower products to Altum International for the Australian medicinal cannabis market. This marks a significant milestone as it expands into Australia, which is experiencing a strong growth in its medicinal cannabis market, with patient numbers rising significantly. Additionally, Pure Sunfarms has commenced cultivation in its second greenhouse facility, Delta 2, with harvesting expected to begin in November and is in the process of obtaining EU-GMP certification.

Village Farms International (NASDAQ: VFF) announced a pivotal option agreement to acquire an 80% stake in Leli Holland B.V. for EUR 3,950,000, with an initial payment of EUR 950,000 due upon exercise. Leli is among ten companies eligible for a cannabis production license in the Netherlands, anticipated to open Europe's first legal recreational cannabis market through the Dutch Supply Chain Experiment. Village Farms aims to leverage its extensive experience in controlled environment agriculture (CEA) and plans to develop two production facilities, fulfilling a potential demand of up to 485,000 kilograms annually.

Village Farms International unveiled new corporate branding and a website on Sept. 15, 2021, reflecting its transformation into a vertical integrated plant-based consumer products company targeting high-growth opportunities in North America and globally, particularly in cannabinoids and health products. The branding emphasizes core values such as integrity and sustainability, encapsulated in the slogan 'Good, for All™'. CEO Michael DeGiglio highlighted significant sales growth, nearly doubling since 2017, and expressed optimism in the company's future, aiming for durable shareholder value. An updated investor presentation was also released.

On August 16, 2021, Village Farms International (NASDAQ: VFF) announced its acquisition of Balanced Health Botanicals (BHB) for US$75 million, consisting of US$30 million in cash and US$45 million in common shares. BHB, known for its brand CBDistillery, holds a significant market share in the CBD industry and will enhance Village Farms' e-commerce capabilities and retail access in the US. The acquisition aligns with Village Farms' strategy to expand into high-growth plant-based consumer goods and cannabis sectors, leveraging its extensive supply chain and greenhouse operations.

Village Farms International has acquired 100% of Colorado-based CBD-platform Balanced Health Botanicals for US$75 million. This acquisition grants Village Farms immediate entry into the US CBD market, which is projected to grow to US$16 billion by 2025. Balanced Health is a profitable entity with a strong e-commerce presence through its brand CBDistillery™, contributing expected annual sales of over US$30 million. The transaction is expected to be immediately accretive to net income, enhancing Village Farms' strategic positioning in the cannabis industry.

Village Farms International (NASDAQ: VFF) reported significant growth in its Q2 2021 results. Pure Sunfarms achieved a 22% sequential increase in retail branded sales, marking the fourth consecutive quarter of growth, and a 192% increase in adjusted EBITDA to C$9.1 million. Total net sales rose 38% sequentially, attributed to strong performance in the dried flower market, where Pure Sunfarms became the top-selling licensed producer in Ontario. The company's expansion strategy includes a 50% capacity increase in cultivation. However, the produce segment faced a 4% decline in sales due to lower tomato prices.

Village Farms International (VFF) plans to release its second quarter 2021 financial results on August 9, 2021, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET for discussion of the results. The call can be accessed via telephone or online. Village Farms is a major greenhouse grower in North America and aims to be a leader in cannabis and CBD products. Its subsidiary, Pure Sunfarms, is a significant global player in cannabis production, generating positive adjusted EBITDA for nine consecutive quarters.

On July 12, 2021, Village Farms International (VFF) announced the filing of a universal shelf registration statement on Form S-3 with the SEC, replacing an earlier statement from April 2020. As a "well-known seasoned issuer," this filing allows VFF flexibility to issue securities for future offerings to pursue strategic opportunities. Although there are no immediate plans to offer securities, the company emphasizes its strong position in the growing cannabis and CBD markets. The New Registration Statement aims to facilitate potential funding for new projects and initiatives.

Village Farms International (TSX: VFF) recently announced a significant expansion of its cannabis cultivation capabilities through its subsidiary, Pure Sunfarms. The company received a license amendment from Health Canada for its Delta 2 facility, allowing immediate cultivation in the first half and targeting completion for the second half in 2022. This amendment boosts total cultivation capacity to 1.65 million square feet, with plans to reach 2.2 million square feet later. Pure Sunfarms has consistently recorded over 20% growth in retail branded sales over the last three quarters.