Village Farms International Acquires 70% of Québec-Based ROSE LifeScience, a Leading Vertically Integrated Branded and Third-Party Supplier to the Québec Cannabis Market

CANNANNEW REPORT

Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) (TSX: VFF) today announced it has acquired 70% ownership of privately-held, Québec-based, ROSE LifeScience (“ROSE”), a leading vertically integrated branded cannabis producer, supplier and commercialization expert in the Province of Québec, effective today (“Closing Date”). The transaction is valued at up to C$46.7 million.  ROSE becomes the Québec operational unit of Village Farms’ Canadian cannabis business segment, with ROSE’s headquarters and the existing team remaining in Québec. ROSE is a leading third-party cannabis products commercialization expert in the Province of Québec, acting as the exclusive, direct-to-retail sales, marketing and distribution entity for Entourage Health, Sundial, Tilray and The Flowr Corporation and 10 Québec micro and craft growers throughout Québec. ROSE also distributes to Québec retail its own brand of high-quality cannabis products. Tam Tams is grown and processed at ROSE’s Québec-based, Health Canada-licensed 55,000 square-foot Controlled Environment Agriculture (CEA), purpose-built facility in Huntingdon, which was commissioned in 2020. ROSE also enables a platform for commercialization in the Québec market for several Québec-based micro-producers under its DLYS brand. Highlights of the Acquisition Adds a substantial presence in the Province of Québec as a cannabis supplier, producer and commercialization expert in the Province of Québec, which represents approximately 15%1 of total Canadian retail cannabis sales at the current annualized run rate of more than C$627 million1, the vast majority of which is dried flower and pre-rolled products; Adds experienced, Québec-based industry leaders who will join the Village Farms/Pure Sunfarms team, bolstering extensive existing relationships in the Québec cannabis market and leveraging specialized, deep experience in both consumer-packaged goods and regulated industries; and, Adds a Québec-based, 55,000 square foot, Health Canada-licensed Controlled Environment Agriculture (CEA) cultivation and processing facility, which is included in the transaction. Village Farms Management Commentary “The acquisition of ROSE – by far the most successful…

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Source : Village Farms International Acquires 70% of Québec-Based ROSE LifeScience, a Leading Vertically Integrated Branded and Third-Party Supplier to the Québec Cannabis Market

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