Village Farms International Comments on Trading Activity

Rhea-AI Summary

Village Farms International (NASDAQ: VFF) announced that it is unaware of any undisclosed material information causing recent stock price increases and trading volume spikes, per IIROC's request. The company is a major greenhouse grower in North America and is expanding into high-growth plant-based goods in cannabis and CBD. Its Pure Sunfarms division is a leading, cost-effective producer in Canada, showing profitability for seven quarters. In the U.S., Village Farms aims to capitalize on the CBD market, while also exploring cannabis opportunities in Asia-Pacific.

Positive

• Pure Sunfarms has been profitable for seven consecutive quarters.
• Village Farms is recognized as a leading low-cost greenhouse producer in Canada.
• The company is strategically targeting international cannabis and CBD markets, particularly in Australia.

Negative

• None.

VANCOUVER, BC, Dec. 24, 2020 /PRNewswire/ - Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) (TSX: VFF), at the request of IIROC ("Investment Industry Regulatory Organization of Canada"), confirms that it is not aware of any material, undisclosed information related to the Company that would account for the recent increase in the market price and level of trading volume of its common shares.

About Village Farms International, Inc.

Village Farms is one of the largest and longest-operating greenhouse growers in North America, and is leveraging its decades of experience in large-scale, low-cost intensive agriculture and as a vertically integrated produce supplier to pursue high-value, high-growth plant-based Consumer Packaged Goods opportunities in cannabis and CBD in North America and selected markets internationally.

In Canada, British-Columbia-based Pure Sunfarms is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer, one of the best-selling brands, and has generated profitability for seven consecutive quarters.

In the U.S., subject to compliance with all applicable U.S. federal and state laws, Village Farms is pursuing a strategy to become a leading developer and supplier of branded and white-labeled CBD products targeting "big box" and other major retailers and consumer packaged goods companies, and with one the largest greenhouse operations in country, is well positioned for the potential federal legalization of high-THC cannabis.

Internationally, Village Farms is strategically targeting selected, nascent, legal cannabis and CBD opportunities with significant long-term potential, with an initial focus on the Asia-Pacific region through its investment in Australia-based Altum International.

View original content:http://www.prnewswire.com/news-releases/village-farms-international-comments-on-trading-activity-301198429.html

SOURCE Village Farms International, Inc.

FAQ

What is Village Farms International's stock symbol?

The stock symbol for Village Farms International is VFF.

Why did Village Farms International confirm no undisclosed information?

Village Farms confirmed no undisclosed material information to address recent trading activity as requested by IIROC.

What markets is Village Farms targeting for CBD products?

Village Farms is targeting the U.S. market for branded and white-labeled CBD products.

How long has Pure Sunfarms been profitable?

Pure Sunfarms has generated profitability for seven consecutive quarters.

Where is Village Farms expanding internationally?

Village Farms is strategically focusing on the Asia-Pacific region for cannabis and CBD opportunities.