Village Farms International reports developments across its cannabis and controlled-environment agriculture businesses, including operating results, Canadian cannabis brands, international medical cannabis exports, and greenhouse capacity. The company operates cannabis activities in Canada, the U.S. and the Netherlands, with Pure Sunfarms as its Canadian licensed producer and Balanced Health Botanicals in CBD and hemp-derived products.
Recurring updates include quarterly and annual financial results, EU-GMP certified cultivation capacity in British Columbia, product and labelling initiatives such as Pure Sunfarms Pink Kush potency-range packaging, credit facility amendments, share repurchases and governance changes. News also covers greenhouse produce operations and expansion activity tied to the company’s cannabis platform.
Village Farms International (NASDAQ: VFF) announced that Chief Financial Officer Stephen Ruffini will participate in the 34th Annual ROTH Conference from March 13-15, 2022, in Orange County, California. He is scheduled for a One-on-One Fireside Chat on March 14 at 4:30 PM ET and a Panel Discussion on Cannabis Globalization on March 15 at 3:00 PM ET. The discussions will be available via live webcast on Village Farms' website and archived for 90 days.
Village Farms specializes in controlled environment agriculture and is a leading supplier in the cannabis market.
Village Farms International announced that its subsidiary, Pure Sunfarms, received EU GMP certification for its Delta 3 cannabis facility in British Columbia. This certification allows the company to export medical cannabis to EU markets, particularly targeting Germany, the largest medical cannabis market in the EU, with shipments expected to commence in Q3 2022. The certification is seen as a pivotal step in the company's strategy to expand its international cannabis platform and explore additional markets, including Israel.
Village Farms International reported its financial results for Q4 and the year ended December 31, 2021. The company achieved a 50% year-over-year increase in net sales to $120.8 million and a remarkable 89% rise in adjusted EBITDA to $29.3 million. This marks the 13th consecutive quarter of positive adjusted EBITDA, driven largely by its Canadian cannabis operations, particularly the top-selling Pure Sunfarms brand. The firm expects continued growth and profitability in 2022, bolstered by strategic acquisitions and expanding production capacity.
Village Farms International (VFF) will report its fourth quarter and year-end financial results on March 1, 2022, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET to discuss the results. Participants can access the call by dialing (416) 764-8659 or (888) 664-6392. The call will also be available online. Village Farms is a major player in Controlled Environment Agriculture and is noted for its cannabis operations, particularly through its subsidiary Pure Sunfarms. The company's growth strategies include entering the US high-THC cannabis market and targeting international cannabis opportunities.
Village Farms International announced the appointment of Ann Gillin Lefever as Executive Vice President of Corporate Affairs, effective immediately. In this newly established role, she will oversee investor relations, strategy, growth, risk management, and internal communications. Lefever brings extensive experience in capital markets and equity analysis, previously advising Village Farms as a consultant. The company positions itself as a leader in high-value plant-based consumer products, aiming for growth in the cannabis and CBD markets in North America and internationally.
Michael A. DeGiglio, CEO of Village Farms International (NASDAQ: VFF), exercised stock options and sold 100,000 common shares on February 1, 2022, for US$530,100 at an average price of US$5.30 each. This sale was part of his 10b-5-1 Trading Plan. After the transaction, DeGiglio still beneficially owns approximately 9,349,529 shares, a reduction from 11.1% to 10.9% ownership of the company's outstanding shares. The sale was executed to cover the cost of exercising the options and to meet tax obligations. DeGiglio has no immediate plans for further share transactions.
Village Farms International (NASDAQ: VFF) announces a live "Ask Me Anything" (AMA) session on Reddit's r/weedstocks subreddit on January 13, 2022, at 6:00 p.m. ET. The event will feature CEO Michael DeGiglio and Mandesh Dosanjh, President of Pure Sunfarms. Users can submit questions in advance by registering on Reddit. Village Farms operates a significant cannabis business and is expanding into the US high-THC market while maintaining a leading position in the CBD sector.
Village Farms International (NASDAQ: VFF) announced a voluntary delisting of its common shares from the Toronto Stock Exchange (TSX), effective December 31, 2021. The decision follows a determination that the trading volume on the TSX does not justify the associated maintenance costs. The company believes that its listing on Nasdaq provides sufficient liquidity and allows for cost savings that can be redirected to initiatives enhancing shareholder value. Shareholders can still trade shares on Nasdaq using Canadian brokers.
Village Farms International (NASDAQ: VFF) announced that CEO Michael DeGiglio and CFO Stephen Ruffini will participate in the Cannabis Chronicles Fireside Chat hosted by A.G.P./Alliance Global Partners on December 14, 2021, at 10:30 a.m. ET. The session will be accessible via a live webcast on the company’s website and will be archived for 90 days. Village Farms, a leader in Controlled Environment Agriculture, is also recognized for its cannabis operations through its subsidiary, Pure Sunfarms, focusing on growth in the cannabis and CBD markets.
Village Farms International (NASDAQ: VFF) reported that its Delta, BC operations for Pure Sunfarms (cannabis) and Village Farms Fresh (produce) faced no disruptions due to recent severe weather. The state of emergency for the area has been lifted, and both operations continue as usual. The company has implemented contingency plans to address potential supply challenges but does not anticipate a material impact on Q4 revenue. With strong foundations in both fresh produce and cannabis, Village Farms continues to pursue growth opportunities in North America and internationally.