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, Inc. (NASDAQ: VFF) generates frequent news across cannabis, CBD, produce, and renewable energy, reflecting its role as a controlled environment agriculture specialist transitioning into higher-value plant-based consumer packaged goods. News coverage on this page centers on how the company develops and scales its Canadian cannabis operations, expands international exports, and advances regulated adult-use and medical cannabis programs.
Readers can follow updates on Pure Sunfarms, which Village Farms describes as one of the single largest cannabis operations in the world, as well as Rose LifeScience in Québec and Leli Holland in the Netherlands. Announcements often address product launches and format innovation in regulated markets, such as new pre-roll and hash-forward offerings for Dutch coffeeshops, packaging developments in Canada, and evolving strategies for international medical cannabis exports from the company’s EU GMP certified facility in Canada.
U.S.-focused news typically highlights the activities of Balanced Health Botanicals, Village Farms’ CBD and hemp-derived brand and e-commerce platform, along with commentary on regulatory developments that may affect cannabinoid markets. Additional items include updates on the company’s Texas greenhouse assets and farmland, its renewable natural gas royalties through Village Farms Clean Energy, and corporate actions such as share repurchase authorizations, leadership appointments, and financial results.
This news page aggregates press releases and other disclosures so investors and observers can see how Village Farms executes its cannabis, CBD, produce, and clean energy strategies over time. For ongoing insight into VFF’s operations in Canada, Europe, the United States and other export markets, users can revisit this feed as new announcements are published.
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.
Village Farms International, Inc. (NASDAQ: VFF) announced that CEO Michael DiGiglio will speak at the Benzinga Cannabis Capital Virtual Conference on October 15, 2020. His session will focus on Village Farms' success in the Canadian cannabis market through Pure Sunfarms and opportunities in the U.S. and international cannabis and CBD sectors. With a strong operational presence, Village Farms aims to capitalize on the potential for high-THC cannabis legalization and expand its branded CBD product offerings.
Village Farms International (NASDAQ: VFF) announced that its subsidiary, Pure Sunfarms, received an amendment from Health Canada allowing it to sell cannabis extract, edibles, and topical products. This milestone enables Pure Sunfarms to start internal extraction operations for its new vape and bottled oil products. CEO Mandesh Dosanjh emphasized the importance of this license for executing their Cannabis 2.0 strategy. The Delta 3 facility can process 35,000 kilograms of biomass annually, enhancing production efficiency and increasing gross margins on extracted products.