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) 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.
Village Farms International (NASDAQ: VFF) reported robust growth in its Q4 2020 results, posting a 28% sequential increase and a 248% year-over-year rise in retail branded sales, totaling $15.5 million. The company achieved its eighth consecutive quarter of net income and positive adjusted EBITDA. Total sales increased by 43% to $47.4 million, while net income rose 197% to $7 million. Additionally, Village Farms extended its credit agreement to February 2024, strengthening its financial position as it capitalizes on opportunities in the cannabis market.
Village Farms International (NASDAQ: VFF) announced its upcoming inclusion in the S&P/TSX Composite Index, effective March 22, 2021. This index comprises the largest and most liquid companies on the TSX, enhancing investor base participation through index funds. CEO Michael DeGiglio highlighted this milestone as a testament to shareholder value and the company's growth in the cannabis sector. Village Farms, with its subsidiary, Pure Sunfarms, is one of North America's leading greenhouse growers and cannabis suppliers, demonstrating profitability for seven consecutive quarters.
Village Farms International (NASDAQ: VFF) announced that CEO Michael DeGiglio and CFO Stephen Ruffini will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, at 1:20 p.m. ET. The presentation will be available via live webcast on the company's website and archived for 90 days. Village Farms, a leading greenhouse grower, focuses on high-value plant-based Consumer Packaged Goods in cannabis and CBD. Its subsidiary, Pure Sunfarms, is among the largest cannabis producers worldwide and has been profitable for seven consecutive quarters.
Village Farms International announced that its Texas greenhouse operations remained stable despite severe weather conditions affecting the state. The company will report its fourth quarter and full-year financial results on March 16, 2021, with a conference call scheduled for the same day. Village Farms emphasizes its expertise in low-cost agriculture and its successful operations through its subsidiary, Pure Sunfarms, which has been profitable for seven consecutive quarters. The company is also pursuing opportunities in the cannabis and CBD markets.
Village Farms International (NASDAQ: VFF) announced the full repayment of a C$19.9 million promissory note related to the acquisition of Pure Sunfarms Corp., eliminating any remaining debt to Emerald Health Therapeutics. Additionally, Village Farms increased its equity stake in Altum International from 6.6% to nearly 10%, highlighting a focused strategy on the Asia-Pacific cannabis market with significant long-term growth potential. CEO Michael DeGiglio emphasized that the investment aligns with the company's international cannabis strategy, leveraging emerging market opportunities.
Village Farms International's subsidiary, Pure Sunfarms, has launched its first cannabis-infused edible products, Real Fruit Gummies, in British Columbia. This product line includes Sour Black Cherry and Sour Raspberry gummies, with plans for more flavors. The gummies are made from real fruit, featuring natural flavors and vegan ingredients. Pure Sunfarms aims to capture a significant share of the growing edibles market in Canada, where it already ranks among the top producers. The company has generated profitability for seven consecutive quarters and is well-positioned for future growth.
Village Farms International has completed a registered direct offering, raising approximately US$135 million by selling 10,887,097 common shares at US$12.40 each. The gross proceeds are intended for general working capital purposes. Post-offering, the company has 77,818,908 common shares outstanding. The offering was co-led by A.G.P./Alliance Global Partners and Raymond James, with Roth Capital Partners also participating as co-placement agent.