Village Farms Intl Inc Stock Price, News & Analysis

Village Farms International (VFF) announced a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as the bid price for its shares was below US$1.00 from March 7 to April 19, 2023. The company has until October 17, 2023, to regain compliance, with shares continuing to trade on the Nasdaq Capital Market during this period. If the share price meets the requirement for 10 consecutive business days before the deadline, compliance will be restored. Failure to comply may lead to a potential delisting, although the company could apply for an additional compliance period. Village Farms operates in Controlled Environment Agriculture and has significant operations in cannabis and CBD sectors, highlighting both growth potential and current financial challenges.

Village Farms International (NASDAQ: VFF) announced its fourth-quarter and full-year 2022 financial results, showing a 25% year-over-year increase in Canadian cannabis retail branded sales. The firm maintained its position as the number two cannabis producer in Canada and reported net sales of $69.5 million, although this reflects a 5% decrease from the previous year. A significant net loss of $49.3 million was reported, attributed largely to an impairment charge of $13.5 million and inventory write-downs. Adjusted EBITDA fell to negative $0.8 million. The company continues to focus on production efficiency while expanding its cannabis export operations.

Village Farms International, Inc. (NASDAQ: VFF) has appointed Kathy Mahoney as an independent member of its Board of Directors, effective March 10, 2023. Mahoney, a seasoned professional in the consumer goods sector, has over 40 years of legal and business experience, particularly in regulated markets like tobacco and CBD. Her prior role at SpartanNash included significant responsibilities such as leading a $2 billion division. This strategic addition to the board is aimed at enhancing Village Farms' growth in plant-based consumer goods and cannabis markets. The company also operates significant cannabis ventures in Canada and the U.S.

Village Farms International (NASDAQ: VFF) has announced a registered direct offering, selling 18,350,000 common shares and accompanying warrants at a combined price of US$1.35 each, expecting gross proceeds of approximately US$25 million. The warrants, exercisable at US$1.65, will be valid for five years. Proceeds from the offering will be used for general working capital. The closing is expected on or about January 30, 2023. Alliance Global Partners and Cantor Fitzgerald & Co. are acting as co-lead placement agents. This offering is conducted under a registration statement declared effective by the SEC.

Village Farms International (NASDAQ: VFF) has expanded its international cannabis strategy by commencing shipments of cannabis to Israel through its subsidiary, Pure Sunfarms. This follows a three-year exclusive agreement with Better Pharma, which has a strong distribution network covering over 95% of Israeli pharmacies. Initial product offerings will include popular strains like Pink Kush. Despite challenges in U.S. cannabis legislation, Village Farms focuses on markets with better regulatory frameworks, including Australia and Germany. This move signifies a significant milestone in its global cannabis strategy.

Village Farms International (NASDAQ: VFF) reported its Q3 2022 financial results, showing a slight sales decline to $71.1 million. However, the Canadian Cannabis segment thrived, with sales up 14% year-over-year, driven by Pure Sunfarms and Rose LifeScience. The company achieved adjusted EBITDA of -$2.2 million, down from $6.9 million in Q3 2021. Notably, Village Farms became Canada's #3 cannabis producer and #1 in October 2022. Retail branded sales surged 46% YOY. Fresh Produce operations faced challenges, including cost inflation and product supply issues.

Village Farms International (NASDAQ: VFF) will announce its third quarter 2022 financial results on November 9, 2022, at 7:00 a.m. ET. A conference call to discuss these results is scheduled for the same day at 8:30 a.m. ET. Participants can join via phone or online. The company has a strong position in the cannabis and CBD markets, with its subsidiary Pure Sunfarms being a major player in Canada. Additional details regarding the call can be accessed from the company's investor relations page.

Village Farms International (NASDAQ: VFF) will participate in the A.G.P./Alliance Global Partners Virtual Consumer Cannabis Conference on October 4, 2022, at 2:00 p.m. ET. Orville Bovenschen, Vice President of European Business Development, will discuss the Potential of Germany's Adult-use Market. A live webcast will be available on their website and archived for 90 days. Village Farms is a leader in controlled environment agriculture, focusing on high-growth cannabis and CBD markets in North America and internationally.