Village Farms Intl Inc Stock Price, News & Analysis

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.

Village Farms International (NASDAQ: VFF) has acquired an 85% stake in Leli Holland, which received the final license to cultivate cannabis under the Dutch Closed Supply Chain Experiment in the Netherlands. This makes the Netherlands the first major European country to permit large-scale recreational cannabis cultivation, commencing next year. The program aims to assess the effects of regulated cannabis supply to retailers. Village Farms aims to leverage its extensive experience in controlled agriculture to succeed in this market.

Village Farms International (NASDAQ: VFF) reported its Q2 2022 financial results, showing a 18% increase in consolidated revenue to $82.9 million year-over-year. Canadian cannabis sales surged 25% to a record $29.8 million, driven by strong performance from its Pure Sunfarms brand, which remains the top seller in Canada. However, the company faced a net loss of $36.6 million due to impairments and rising costs, leading to negative adjusted EBITDA of ($10.3 million).

Village Farms International (VFF) will hold a conference call on August 9, 2022, at 8:30 a.m. ET to discuss its second-quarter financial results. The results will be released on the same day at 7:00 a.m. ET. Participants can join by phone or online. Village Farms is a significant player in controlled environment agriculture with a focus on high-growth cannabis and CBD markets, leveraging its experience in fresh produce. The company operates Pure Sunfarms, one of the largest cannabis operations in Canada, and has plans for expansion into the U.S. cannabis market.