Village Farms International Completes Acquisition of Pure Sunfarms' Shares to Own 100% of the Canadian Cannabis Supplier

Cannabtimes

<![CDATA[VANCOUVER, BC, Nov. 2, 2020 /PRNewswire/ – PRESS RELEASE – Village Farms International, Inc. has announced it has completed the acquisition from Emerald Health Therapeutics, Inc. of 36,958,500 common shares of Pure Sunfarms Corp. owned by Emerald, representing approximately 41.3% of the issued and outstanding common shares of Pure Sunfarms. With the completion of the Pure Sunfarms Transaction, Village Farms now owns 100% of the common shares of Pure Sunfarms. The acquisition of the Pure Sunfarms shares will be immediately accretive to Village Farms’ net income."Village Farms conceived of a joint venture to launch its Canadian cannabis business, and the result, Pure Sunfarms, is now one of the leading Canadian cannabis companies. With this transaction our shareholders will now fully benefit from our initiative," said Michael DeGiglio, CEO of Village Farms. "Pure Sunfarms is well positioned for long-term growth as one of what we believe will be just a small number of major suppliers to the Canadian cannabis market. Importantly, as part of the Village Farms organization Pure Sunfarms can now pursue additional opportunities to further leverage its success to date and increase its earnings potential. I am pleased to welcome the outstanding management team and employees of Pure Sunfarms to…

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Source : Village Farms International Completes Acquisition of Pure Sunfarms' Shares to Own 100% of the Canadian Cannabis Supplier

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