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 announced the acquisition of a 70% ownership stake in ROSE LifeScience for up to C$46.7 million, effective November 15, 2021. This strategic move grants Village Farms a substantial foothold in Québec's cannabis market, which accounts for approximately 15% of total Canadian retail cannabis sales, valued at over C$627 million annually. The acquisition enriches Village Farms with experienced local leadership and a 55,000 square-foot licensed production facility, enhancing its operational capacity and brand offerings in the expanding cannabis sector.
Village Farms International (NASDAQ: VFF) reported a consolidated EPS of $0.01 and Adjusted EBITDA of $6.8 million for Q3 2021, driven by its Canadian cannabis operation, Pure Sunfarms, which achieved record net sales of $27.4 million—a 53% year-over-year increase. The recent acquisition of Balanced Health Botanicals contributed to $31.2 million in total cannabis sales, making up 43% of Village Farms' total sales. The company's produce segment also reported positive Adjusted EBITDA despite price fluctuations in tomatoes. The report highlights Pure Sunfarms' robust growth and ongoing international expansion efforts.
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Village Farms International, Inc. (NASDAQ: VFF) will report its third quarter 2021 financial results on November 9, 2021, at 7:00 a.m. ET. A conference call is scheduled for 8:30 a.m. ET on the same day. Participants can join via telephone or online. The company, a leader in controlled environment agriculture, is also involved in the cannabis and CBD sectors with significant operations in Canada and the U.S. Additionally, Village Farms is positioning for international expansion in the cannabis market.
Balanced Health Botanicals™ (BHB) has launched the Synergy Collection, which includes its first CBD + Functional Mushroom, Kava Root, and Cannabidiolic acid (CBDA) products. This collection aims to enhance the Entourage Effect, allowing users to experience the combined benefits of hemp-derived compounds. The product line includes tinctures, vegan-friendly capsules, and gummies across four categories: Daytime Synergy, Sleep Synergy, Raw Synergy, and Wellness Synergy. The launch is seen as a significant advancement for the hemp industry, with further expansions planned to include additional beneficial cannabinoids.
Village Farms International, Inc. (NASDAQ: VFF) announced the launch of the Synergy Collection through its subsidiary, Balanced Health Botanicals. This product line includes innovative hemp-derived CBD products featuring functional mushrooms, Kava Root, and Cannabidiolic Acid (CBDA), aimed at enhancing the entourage effect. The collection consists of tinctures, vegan capsules, and gummies categorized into Daytime, Sleep, Raw, and Wellness Synergy. This milestone is expected to solidify CBDistillery's position as a leading US CBD brand, leveraging years of product development.
Village Farms International (NASDAQ: VFF) will participate in the Benzinga Cannabis Capital Conference on October 14-15, 2021, in New York City and virtually. CEO Michael DeGiglio is set to present on October 14 at 1:10 p.m. ET. A live webcast of the presentation will be accessible on the company’s website, archived for 90 days. The company is recognized for its significant cannabis operations through its subsidiary Pure Sunfarms, and plans to enter the U.S. high-THC cannabis market leveraging its greenhouse expertise.
Village Farms International (NASDAQ: VFF) announced that its CEO, Mandesh Dosanjh, will participate in the A.G.P./Alliance Global Partners Virtual Fall Consumer Cannabis Conference on October 5, 2021. Dosanjh will be part of a panel discussing innovation in Canadian cannabis at 10:00 a.m. ET. The event will be webcast live on the company's website and archived for 90 days. Village Farms, through its subsidiary Pure Sunfarms, is a leading player in the cannabis industry, recognized for its low-cost greenhouse production and strong market presence.
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.