Welcome to our dedicated page for Village Farms Intl news (Ticker: VFF), a resource for investors and traders seeking the latest updates and insights on Village Farms Intl stock.
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) 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.
Village Farms International (NASDAQ: VFF) announced that CEO Michael DeGiglio will participate in a virtual fireside chat at the Cantor Fitzgerald Canadian LPs Cannabis Forum on June 14, 2021, at 11:00 a.m. ET. The presentation will be available live on their website, with an archive accessible for 90 days. Village Farms is a leading greenhouse grower in North America, focusing on cannabis and CBD opportunities. Its subsidiary, Pure Sunfarms, is a top cannabis operation in Canada, aiming for growth in the U.S. and international markets.
On June 10, 2021, Village Farms International (TSX: VFF, NASDAQ: VFF) announced the results of its annual and special shareholder meeting. A total of 49,330,959 shares, or 60.76% of the outstanding shares, were voted. All resolutions presented were approved, including the election of directors with Michael A. DeGiglio receiving 94.31% of votes. PricewaterhouseCoopers LLP was re-appointed as auditor. Shareholders also approved amendments to the Amended and Restated Equity Plan. Full voting results will be available on SEDAR.
Village Farms International (NASDAQ: VFF) announced a normal course issuer bid (NCIB) accepted by the Toronto Stock Exchange, allowing the company to repurchase up to 4,062,309 common shares, equating to about 5% of its outstanding shares, over a year. The NCIB runs from May 26, 2021, to May 25, 2022, with daily purchase limits based on trading volume. The company believes its shares may not reflect their true value, presenting this as a prudent use of capital without altering growth strategies. No prior repurchases have occurred in the last 12 months.
Village Farms International (NASDAQ: VFF) will participate in a virtual 'fireside chat' at the BMO Capital Markets 16th Annual Farm to Market Conference on May 20, 2021, at 10:40 a.m. ET. CEO Michael DeGiglio and CFO Stephen Ruffini will represent the company. A live webcast will be accessible on Village Farms' website and archived for 90 days. Village Farms is a leader in greenhouse agriculture and is expanding into the cannabis and CBD markets across North America and internationally.
Village Farms International (NASDAQ: VFF) reported its Q1 2021 financial results, showing a 63% increase in sales to $52.4 million, driven by its cannabis segment, Pure Sunfarms, which achieved its 10th consecutive quarter of positive Adjusted EBITDA. Cannabis sales reached $17.4 million, with Pure Sunfarms being the top-selling dried flower brand in Ontario. However, the company experienced a net loss of $7.4 million and a 276% decline in income compared to Q1 2020. Adjusted EBITDA dropped 63% to $0.4 million, impacted by lower margins and increased SG&A expenses.
Village Farms International (NASDAQ: VFF) will report its First Quarter 2021 Financial Results on May 10, 2021, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET. CEO Michael DeGiglio will also participate in a panel at the A.G.P./Alliance Global Partners Spring Virtual Consumer Cannabis Conference on May 4. The call will be accessible through telephone and an online link. Archived details will be provided post-event. Village Farms focuses on greenhouse operations and cannabis ventures.