Village Farms Intl Inc - VFF STOCK NEWS

Village Farms International, Inc. (NASDAQ: VFF) announced an exclusive partnership with White Rabbit OG for developing cannabis-infused gummies using White Rabbit's EAT ME Technology. This proprietary all-natural emulsion ensures effective THC and CBD dosing. The gummies will be unique in Canada for using real fruit and are plant-based, allergen-free, and vegan. Additionally, Pure Sunfarms will launch high-THC vape products, consisting of pure cannabis extract. The agreement with White Rabbit lasts two years, emphasizing Village Farms' growth strategy in the expanding cannabis market.

Village Farms International (VFF) announced that DutchCanGrow Inc. (DCG), a Netherlands-based cannabis company in which it holds a 16% stake, did not receive one of the ten cannabis production licenses in a recent lottery. Instead, DCG is eighth on a waiting list. Only 40 out of nearly 150 applicants were considered for the licenses. The review of the top ten applicants will take 8 to 12 weeks. Village Farms highlights its capability to contribute significantly to the Dutch cannabis market, focusing on providing safe and quality cannabis.

Village Farms International (NASDAQ: VFF) announced a Supply Agreement with Medical Cannabis by Shoppers Inc. that will allow its subsidiary, Pure Sunfarms, to supply B.C.-grown cannabis products to Shoppers' online platform. This partnership is expected to enhance access to high-quality medical cannabis for patients across Canada. Pure Sunfarms' products will be available starting early December 2020, including a 28-gram package that marks a new offering for Shoppers. The company has generated profitability for seven consecutive quarters, highlighting its strong market position.

Village Farms International, Inc. (NASDAQ: VFF) announced significant advancements for its subsidiary, Pure Sunfarms. The company received a Cannabis Research License from Health Canada, allowing on-site sensory evaluations of cannabis products, which is expected to enhance product formulation and consumer experience. Additionally, Pure Sunfarms will debut internationally in Hong Kong through a luxury gift set featuring branded CBD gummies. This move aims to educate consumers and expand Pure Sunfarms' market presence in the Asia-Pacific region.

Village Farms International (NASDAQ: VFF) reported financial results for Q3 2020, highlighting a 75% sequential growth in net sales to C$22.6 million and a 200% increase in net income to C$3.2 million. Notably, Pure Sunfarms achieved a 15.2% market share in the dried flower category with the Ontario Cannabis Store. Gross profit surged by 81% to C$7.8 million, while Adjusted EBITDA rose 125% to C$5.6 million. Despite this success, net income for the nine months decreased by 52% year-over-year, raising concerns about long-term profitability.

On November 10, 2020, Village Farms International announced a 20-year extension of its contract with the City of Vancouver for landfill gas, enabling it to transition to Renewable Natural Gas (RNG). This shift, part of the Delta RNG Project, is expected to significantly reduce reliance on natural gas and lower CO₂ emissions by 28,000 tonnes annually. The project will also produce food-grade liquid CO₂, enhancing the company’s sustainability efforts. Regulatory approvals for the project are anticipated in early 2021, with operations potentially starting in 2022.

Village Farms International (NASDAQ: VFF) announced its third quarter 2020 financial results will be released on November 13, 2020, at 7:00 a.m. ET. The company will host a conference call to discuss these results the same day at 8:30 a.m. ET, accessible via telephone or online. For those unable to attend, the call will be archived for replay through telephone and the company's website until November 20, 2020. With a strong cannabis operation in Canada and strategic initiatives in the U.S. and international markets, Village Farms is positioned for growth in the plant-based consumer packaged goods sector.

Village Farms International has successfully acquired 36,958,500 common shares of Pure Sunfarms from Emerald Health Therapeutics, gaining 100% ownership. This acquisition, valued at C$79.9 million (US$60 million), is expected to be immediately accretive to net income. The CEO highlighted the strategic importance of Pure Sunfarms in their cannabis business, anticipating long-term growth in the evolving market. The company plans to consolidate Pure Sunfarms' financials in upcoming reports and is ready to capitalize on U.S. cannabis opportunities pending regulatory changes.

Village Farms International, Inc. (NASDAQ: VFF) announced that Emerald Health Therapeutics, Inc.’s shareholders approved the sale of Emerald's 41.3% stake in Pure Sunfarms Corp. to Village Farms. The transaction awaits formal TSX-V approval and other closing conditions, after which Village Farms will own 100% of Pure Sunfarms. This acquisition enhances Village Farms' position in the cannabis market, leveraging Pure Sunfarms’ operations, which are recognized as one of the largest and lowest-cost greenhouse producers globally, and have achieved profitability for six consecutive quarters.