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 (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.
Village Farms International (NASDAQ: VFF) announced that its joint venture, Pure Sunfarms, has begun shipping branded dried flower products to Manitoba, expanding its market presence to five of Canada's six largest provinces. The brand achieved record sales in Ontario, British Columbia, and Alberta for the four-week period ending July 19, 2020, and continues to be the top-selling dried flower brand at the Ontario Cannabis Store. CEO Mandesh Dosanjh expresses confidence in the brand's reception in Manitoba, highlighting its strategic growth amid the recovery of the Canadian cannabis market.
Village Farms International (NASDAQ: VFF) has entered a definitive agreement with DutchCanGrow Inc. to share ownership in a cannabis venture in the Netherlands, aiming to become a licensed grower under the upcoming legal recreational cannabis market. Each partner will hold under 16% ownership as DCG plans to build a greenhouse facility to supply an anticipated 65,000 kilograms of dried cannabis annually for the 10 selected cities. This marks Village Farms' strategic entry into European markets following its success in Canada.
On July 1, 2020, Village Farms International (NASDAQ: VFF) announced the expansion of its credit facility for its joint venture, Pure Sunfarms, to a total capacity of $59 million. The new facility includes a $15 million revolving loan and $25 million term loan, alongside an existing $19 million loan. This funding will support operations at its Delta 2 greenhouse and further solidify Pure Sunfarms as a leading Canadian cannabis producer. The company expressed gratitude for the support from Bank of Montreal, Farm Credit Canada, and CIBC.
On June 25, 2020, Village Farms International (NASDAQ: VFF) held its annual meeting where all director nominees were successfully elected. Key results include high approval ratings for nominees, with Michael A. DeGiglio receiving 98.9% approval and John P. Henry 99.0%. Additionally, PricewaterhouseCoopers LLP was appointed as the company's auditor, and the directors were given authority to determine the auditor's remuneration. The company is recognized for its substantial greenhouse operations in North America and its strategic position in the cannabis and CBD markets.
Village Farms International's joint venture, Pure Sunfarms, is expanding its reach by shipping cannabis products to Saskatchewan after receiving regulatory approval. Saskatchewan accounts for about 6% of Canada's total cannabis sales and will transition to an open market model by September 2020, allowing unlimited dispensaries. Additionally, Pure Sunfarms has been approved to supply cannabis to Manitoba. The company is also set to introduce pre-rolls in Ontario and Cannabis 2.0 products this summer, including vape cartridges and bottled oils, enhancing its product portfolio significantly.