Welcome to our dedicated page for Village Farms International Common Shares news (Ticker: VFF), a resource for investors and traders seeking the latest updates and insights on Village Farms International Common Shares stock.
Village Farms International, Inc. (symbol: VFF) is a leading North American grower and marketer of branded, high-quality, hydroponic greenhouse-grown produce. The company produces a variety of fresh vine-ripened tomatoes, bell peppers, and cucumbers that are handpicked at their peak flavor. With operations in British Columbia and Texas, Village Farms is committed to exceeding customer expectations through quality produce, food safety standards, and sustainable growing practices.
Village Farms prides itself on their HydroPerfect® growing methods, which allow for year-round production of vegetables that are healthier for both consumers and the planet. The company operates intensive agricultural greenhouse facilities and also delves into the cannabis industry through its wholly owned subsidiary, Pure Sunfarms, which supplies cannabis products to other licensed providers and provincial governments in Canada and internationally. Another subsidiary, Balanced Health, focuses on developing and selling CBD-based products including ingestible, edible, and topical applications.
The company’s core business is divided into four operating segments: Produce, Cannabis-Canada, Cannabis-U.S., and Energy, with a majority of revenue generated from the Produce segment. Village Farms has demonstrated consistent industry leadership, evidenced by its #1 position in Ontario's licensed producer market and significant market share gains in Quebec, Alberta, and British Columbia. Recent launches such as Super Toast have rapidly gained national momentum in Canada, reinforcing Village Farms' market standing.
Village Farms continues to expand its footprint and market presence, consistently retaining dominant positions in various categories across multiple provinces. As of May 2024, the company is poised to expand further into Atlantic Canada, ensuring nationwide availability of its leading brands.
Village Farms International (NASDAQ: VFF) and Hemp for Victory have filed a joint motion to disqualify the Drug Enforcement Administration (DEA) from overseeing the marijuana rescheduling process from Schedule I to Schedule III. The motion seeks to replace the DEA with the Department of Justice as the proponent of the Proposed Rule. The filing argues that the DEA failed to maintain complete records, ensure transparency, and is compromised in these proceedings. The parties also request that Smart Approaches to Marijuana and the DEA preserve their records due to evidence of unlawful conduct. Village Farms has been selected as a witness for the upcoming Rescheduling Hearing.
Village Farms International reported strong Q3 2024 results with 20% year-over-year growth in consolidated sales to $83.4 million. Canadian Cannabis net sales increased 29%, Fresh Produce sales grew 20%, and International Medicinal Cannabis sales rose 111%. The company maintained its #2 position in Canadian market share and achieved #1 position in Quebec. Consolidated adjusted EBITDA increased 63% to $5.3 million, with positive cash flow from operations of $4.3 million. The company began cultivation in Netherlands, marking its first international recreational market entry. Both Canadian Cannabis and Fresh Produce segments delivered positive Adjusted EBITDA and net income.
Village Farms International (NASDAQ: VFF) has been selected as one of 25 participants for the DEA's Administrative Law Judge hearing on rescheduling marijuana from Schedule I to Schedule III. The company is the only cannabis industry operator chosen to participate in the hearing, scheduled for January or February 2025. Dr. John Harloe, Village Farms' Global Cannabis General Counsel, will represent the company as a witness. Dr. Harloe brings extensive expertise in cannabinoid research and cannabis policy, holding positions on various regulatory boards and committees.
Village Farms International (NASDAQ: VFF) has announced its plans to release third quarter 2024 financial results on November 7, 2024, at 7:00 a.m. ET, followed by a conference call at 8:30 a.m. ET. The company will host a webcast accessible through their website, with telephone participation requiring advance registration. While the live Q&A session is reserved for analysts, other participants can submit questions via email to investorrelations@villagefarms.com. A replay of the conference call will be available on the company's website approximately one hour after completion.
Village Farms International (NASDAQ: VFF) has been notified by Nasdaq that it is not in compliance with the minimum bid price requirement. The company's common shares closed below US $1.00 from September 6, 2024 to October 17, 2024. Village Farms has until April 16, 2025 to regain compliance with the Minimum Bid Requirement.
During this compliance period, Village Farms' shares will continue to trade on the Nasdaq Capital Market. If the bid price closes at or above US $1.00 for a minimum of 10 consecutive business days before the deadline, the company is expected to regain compliance. If not, Village Farms may be eligible for an additional 180-day period or face potential delisting, with the option to appeal to a Nasdaq Hearings Panel.
Village Farms International (NASDAQ: VFF) has announced its participation in the upcoming Benzinga Cannabis Capital Conference in Chicago on October 8th and 9th, 2024. Two company executives will be speaking on expert panels:
1. Michael DeGiglio, President and CEO, will participate in a panel titled 'Europe, Australia, Southeast Asia…Canada? Where is the Real Cash Cow' on October 8th at 3:00 p.m.
2. John Harloe, General Counsel - Global Cannabis, will join a panel on 'Hemp vs. Marijuana' on October 8th at 2:15 p.m.
The panels will be archived for replay on the company's website. Management will also be available for one-on-one meetings with analysts and investors during the conference.
Village Farms International has acquired the remaining equity ownership interest in Leli Holland, increasing its stake to 100% from 85%. Leli Holland is one of 10 licensed producers in the Dutch cannabis program. The company has completed construction of its cultivation facility in Drachten, featuring five flower rooms and additional space for drying, manufacturing, and packaging. Leli anticipates commencing cultivation in October, pending final regulatory inspections, with first sales expected in Q1 2025.
The facility will supply approximately 80 Dutch coffeeshops in participating jurisdictions. Village Farms sees the Dutch market as one of the most attractive -license cannabis opportunities globally. The company aims to leverage its position as a top Canadian Licensed Producer with EU-GMP certification to expand medicinal operations internationally and pursue recreational market expansion opportunities.
Village Farms International (NASDAQ: VFF) will participate in the Investor Summit Summer 2024 Virtual MicroCap Forum on August 20, 2024. Key points include:
- CEO Michael DeGiglio will present at 11:30 a.m. ET
- The presentation will be publicly available on the company's website
- A replay will be archived for later viewing
- Management will be available for one-on-one meetings with institutional investors
This event provides an opportunity for Village Farms to showcase its business to potential investors and engage with the financial community. Interested parties can schedule meetings through Lawrence Chamberlain at Loderock Advisors.
Village Farms International (NASDAQ: VFF) reported Q2 2024 results. Total sales grew 19% YoY to $92.1 million. The Canadian cannabis segment saw a 45% increase in net sales and achieved positive adjusted EBITDA. Fresh produce sales increased 7%. The consolidated net loss was $23.5 million, primarily due to an $11.9 million goodwill impairment in the U.S. cannabis segment. Cash flow from operations improved to $5.7 million.
Canadian cannabis continued to hold significant market share, improving its national ranking in various regions. The company expanded third-party supply and introduced new pre-roll products. U.S. cannabis sales declined, and fresh produce faced margin pressure but showed operational improvements. The company expects continued growth in both cannabis and produce segments, with the Netherlands production set to begin soon.
Village Farms International (NASDAQ: VFF) has announced it will host a conference call on August 8, 2024, at 8:30 a.m. ET to discuss its second quarter 2024 financial results. The company will release its Q2 2024 financial results via news release on the same day at 7:00 a.m. ET.
Participants can access the conference call through a webcast or by registering in advance for telephone dial-in information. While the live Q&A session is to analysts, others can submit questions via email before the call. For those unable to attend, an archive of the call will be available on the company's website shortly after completion.
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