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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 announced the appointment of Ann Gillin Lefever as Executive Vice President of Corporate Affairs, effective immediately. In this newly established role, she will oversee investor relations, strategy, growth, risk management, and internal communications. Lefever brings extensive experience in capital markets and equity analysis, previously advising Village Farms as a consultant. The company positions itself as a leader in high-value plant-based consumer products, aiming for growth in the cannabis and CBD markets in North America and internationally.
Michael A. DeGiglio, CEO of Village Farms International (NASDAQ: VFF), exercised stock options and sold 100,000 common shares on February 1, 2022, for US$530,100 at an average price of US$5.30 each. This sale was part of his 10b-5-1 Trading Plan. After the transaction, DeGiglio still beneficially owns approximately 9,349,529 shares, a reduction from 11.1% to 10.9% ownership of the company's outstanding shares. The sale was executed to cover the cost of exercising the options and to meet tax obligations. DeGiglio has no immediate plans for further share transactions.
Village Farms International (NASDAQ: VFF) announces a live "Ask Me Anything" (AMA) session on Reddit's r/weedstocks subreddit on January 13, 2022, at 6:00 p.m. ET. The event will feature CEO Michael DeGiglio and Mandesh Dosanjh, President of Pure Sunfarms. Users can submit questions in advance by registering on Reddit. Village Farms operates a significant cannabis business and is expanding into the US high-THC market while maintaining a leading position in the CBD sector.
Village Farms International (NASDAQ: VFF) announced a voluntary delisting of its common shares from the Toronto Stock Exchange (TSX), effective December 31, 2021. The decision follows a determination that the trading volume on the TSX does not justify the associated maintenance costs. The company believes that its listing on Nasdaq provides sufficient liquidity and allows for cost savings that can be redirected to initiatives enhancing shareholder value. Shareholders can still trade shares on Nasdaq using Canadian brokers.
Village Farms International (NASDAQ: VFF) announced that CEO Michael DeGiglio and CFO Stephen Ruffini will participate in the Cannabis Chronicles Fireside Chat hosted by A.G.P./Alliance Global Partners on December 14, 2021, at 10:30 a.m. ET. The session will be accessible via a live webcast on the company’s website and will be archived for 90 days. Village Farms, a leader in Controlled Environment Agriculture, is also recognized for its cannabis operations through its subsidiary, Pure Sunfarms, focusing on growth in the cannabis and CBD markets.
Village Farms International (NASDAQ: VFF) reported that its Delta, BC operations for Pure Sunfarms (cannabis) and Village Farms Fresh (produce) faced no disruptions due to recent severe weather. The state of emergency for the area has been lifted, and both operations continue as usual. The company has implemented contingency plans to address potential supply challenges but does not anticipate a material impact on Q4 revenue. With strong foundations in both fresh produce and cannabis, Village Farms continues to pursue growth opportunities in North America and internationally.
Village Farms International announced the acquisition of a 70% ownership stake in ROSE LifeScience for up to C$46.7 million, effective November 15, 2021. This strategic move grants Village Farms a substantial foothold in Québec's cannabis market, which accounts for approximately 15% of total Canadian retail cannabis sales, valued at over C$627 million annually. The acquisition enriches Village Farms with experienced local leadership and a 55,000 square-foot licensed production facility, enhancing its operational capacity and brand offerings in the expanding cannabis sector.
Village Farms International (NASDAQ: VFF) reported a consolidated EPS of $0.01 and Adjusted EBITDA of $6.8 million for Q3 2021, driven by its Canadian cannabis operation, Pure Sunfarms, which achieved record net sales of $27.4 million—a 53% year-over-year increase. The recent acquisition of Balanced Health Botanicals contributed to $31.2 million in total cannabis sales, making up 43% of Village Farms' total sales. The company's produce segment also reported positive Adjusted EBITDA despite price fluctuations in tomatoes. The report highlights Pure Sunfarms' robust growth and ongoing international expansion efforts.
Village Farms International, Inc. (NASDAQ: VFF) will report its third quarter 2021 financial results on November 9, 2021, at 7:00 a.m. ET. A conference call is scheduled for 8:30 a.m. ET on the same day. Participants can join via telephone or online. The company, a leader in controlled environment agriculture, is also involved in the cannabis and CBD sectors with significant operations in Canada and the U.S. Additionally, Village Farms is positioning for international expansion in the cannabis market.
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