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.
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.
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.