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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), based in Vancouver, announced a conference call to discuss its first quarter financial results for 2023 on May 10, 2023, at 8:30 a.m. ET. The financial results will be released earlier on the same day at 7:00 a.m. ET. The conference call will be accessible via a webcast and telephone, requiring prior registration for phone access. Analysts will be prioritized for live Q&A, while others can submit questions via email prior to the call. Village Farms is recognized for its significant role in the controlled environment agriculture industry, particularly in the cannabis sector with its subsidiary Pure Sunfarms. The company views potential growth opportunities in both the cannabis and CBD markets across North America and internationally, focusing on the Asia-Pacific region and Europe.
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
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.
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