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 announced the launch of Pure Sunfarms' vape and oil products in Ontario, Alberta, and British Columbia, which together account for nearly 60% of Canadian recreational cannabis sales. The CEO emphasized the initial sell-through success of these products, which include full-spectrum vapes and CBD oil, made from 100% pure cannabis extract. Pure Sunfarms is now present in all four major cannabis product categories, showcasing strong market penetration and plans for further expansion.
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Village Farms International has successfully closed a registered direct offering, raising approximately US$49.8 million by selling 9,396,226 units at US$5.30 each. Each unit includes one common share and a warrant for an additional share at US$5.80. The funds will primarily finance the acquisition of a 41.3% stake in Pure Sunfarms Corp., with the balance allocated for working capital. This strategic move positions Village Farms in a strong position in the cannabis market, particularly for the upcoming potential legalization in the U.S.
Village Farms International (NASDAQ: VFF) has announced a registered direct offering of 9,396,226 units, providing approximately US$49.8 million in gross proceeds. Each unit consists of one common share and a warrant to purchase half a common share at an exercise price of US$5.80. Proceeds will primarily finance the acquisition of a 41.3% stake in Pure Sunfarms Corp., with the remainder for general working capital. The offering is expected to close on or about September 10, 2020, subject to customary conditions.
Village Farms International (NASDAQ: VFF) has announced the acquisition of 36,958,500 common shares of Pure Sunfarms, representing 41.3% of its shares, for C$79.9 million (US$61.0 million). The payment will consist of C$60.0 million in cash and a C$19.9 million promissory note. This acquisition positions Village Farms to own 100% of Pure Sunfarms, enhancing its role in the Canadian cannabis market. Pure Sunfarms has seen strong financial performance, reporting C$30.9 million in net sales and C$9.6 million in net income for the first half of 2020.
Village Farms International (NASDAQ: VFF) will present at the LD 500 Virtual Conference on September 3, 2020, at 1:20 p.m. ET. CEO Michael DiGiglio and CFO Stephen Ruffini will discuss the success of their joint venture, Pure Sunfarms, a leading cannabis producer in Canada. The company has expanded its product line to include bottled oils and vape products. Additionally, they will outline opportunities in U.S. and international CBD markets, emphasizing their capacity as a large-scale greenhouse operator for potential federal legalization of cannabis in the U.S.
Village Farms International (NASDAQ: VFF) announced that its joint venture, Pure Sunfarms, has started shipping Cannabis 2.0 products and bottled oils. Initial shipments will be to British Columbia, with Ontario and Alberta to follow. The company aims to leverage its expertise in dried flower to establish a strong presence in these new product categories. Pure Sunfarms has maintained market leadership in dried flower in Ontario for three consecutive quarters. The addition of high-value products is expected to enhance margins as extraction operations are set to begin pending regulatory approval.
Village Farms International (VFF) reported Q2 2020 results, showing a 15% increase in produce sales to $47.6 million, yet net income fell by 103% to a loss of $0.1 million compared to $3.72 million in 2019. Earnings per share dropped 100% to $(0.00). Adjusted EBITDA decreased 50% to $2.3 million. Despite challenges, Pure Sunfarms maintained its status as the top dried cannabis brand in Ontario with a 13.8% market share and prepared for the launch of Cannabis 2.0 products. The company is expanding its market reach and operational capacity amid ongoing COVID-19 protocols.
Village Farms International (NASDAQ: VFF) will report its second quarter 2020 financial results via news release on August 12, 2020 at approximately 5:00 p.m. ET. The company will also host a conference call to discuss these results on August 13, 2020 at 8:30 a.m. ET. Interested participants can join the call by dialing (647) 427-7450 or (888) 231-8191, or accessing it online. For those unable to attend, an archive will be available for replay until August 20, 2020. Village Farms is a major vertically integrated greenhouse grower in North America, focusing on both produce and cannabis opportunities.
Village Farms International (NASDAQ: VFF) has signed a binding agreement to acquire 6.6% of Australia-based Altum International, a prominent cannabinoid platform in the Asia-Pacific. This strategic acquisition aims to capitalize on the burgeoning CBD market, which is projected to reach US$10 billion by 2024. Altum focuses on compliant CBD products, targeting markets in Hong Kong and potentially expanding throughout the Asia-Pacific region. The partnership is expected to enhance operational synergies and leverage Village Farms' agricultural expertise for long-term growth in CBD and cannabis sectors.
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