VANCOUVER, BC, Sept. 23, 2020 /PRNewswire/ - Village Farms
International, Inc. ("Village Farms" or the "Company") (NASDAQ:
VFF) (TSX: VFF) today announced that Pure Sunfarms' recently
launched vape and oil products are now available to consumers in
the three most populous provinces to which Pure Sunfarms
distributes – Ontario,
Alberta and British
Columbia. Ontario,
Alberta and British Columbia, in aggregate, represent
nearly 60% of all Canadian recreational cannabis
sales1.
"We are thrilled to bring Pure Sunfarms' same uncompromising
approach to quality and commitment to a pure cannabis experience
that resonates so well with our dried flower customers to our
Cannabis 2.0 products," said Mandesh Dosanjh, President and CEO,
Pure Sunfarms. "Made with 100% pure cannabis extract, our Full
Spectrum 510 Vapes deliver a range of flavours that preserve the
cannabinoids and terpenes of the original whole flower. Our
Vape products have one single ingredient: cannabis – no flavouring
agents, added terpenes or thinning agents. It's what our customers
have come to expect of Pure Sunfarms, and we are proud to deliver –
pure, BC-grown cannabis products at an affordable price."
Michael DeGiglio, CEO, Village
Farms International commented, "In less than a year since first
entering the retail branded recreational cannabis market, Pure
Sunfarms now has products available in each of the four largest
product categories – dried cannabis, vapes, pre-rolls and
oils. In Ontario, for example, these four categories combined
represent 90% of all recreational cannabis product
sales2."
Mr, DeGiglio added, "We are very encouraged by the initial sell
through of Pure Sunfarms' vape and oil products, supporting our
belief that Canadian cannabis consumers will embrace the Pure
Sunfarms' value proposition – high quality products that consumers
want at an affordable price – with the same enthusiasm that has
made Pure Sunfarms the top-selling brand of dried flower products
with the Ontario Cannabis Store over the last 11
months3."
Pure Sunfarms is planning for the launch of its vape and oil
products in additional provinces in the months ahead, and will
continue to expand its Cannabis 2.0 offering with new products in
the vape and oil categories, as well as additional categories.
About Pure Sunfarms' Vape and Oil Products
Pure Sunfarms' vape cartridges feature full spectrum extract,
which preserves the cannabinoids and terpenes from the original
flower and maintains the aromas and flavors true to cultivar. Pure
Sunfarms' Full Spectrum Vapes feature 0.5 g of single-strain,
BC-grown cannabis extract, and are available in three of their
best-selling strains: Afghan Kush, White Rhino, and Island
Honey. Each vape cartridge is fitted with a ceramic mouthpiece,
features a glass tank, ceramic heating coil, and is compatible with
a standard 510 thread cartridge battery.
Pure Sunfarms' Pure Sun CBD Oil is made purely with BC-grown,
whole flower Pure Sun CBD cultivar (aka Cannatonic), hand-selected
for its unique potential to produce consistently CBD-rich flowers.
Pure Sun CBD Oil comes in a 30mL amber bottle, and is available in
both a 1:10 or 1:30 THC: CBD formulation so consumers can customize
their CBD experience to meet their individual needs.
Notes
1. Source: Statistics Canada. 12 month period ended June 30, 2020.
2. By dollar sales. For the year-to-date ended July 30, 2020. Data is based on
calculations by Pure Sunfarms from sales information provided by
the Ontario Cannabis Store (OCS).
3. By both dollar sales and kilograms sold. For 11-month
period ended August 31, 2020.
Data is based on calculations by Pure Sunfarms from sales
information provided by the Ontario Cannabis Store (OCS).
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 as a
large-scale, low-cost intensive agriculture and 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 six 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.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains forward-looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended, and is subject to the safe harbor created by those
sections. This press release also contains "forward-looking
information" within the meaning of applicable Canadian securities
law. We refer to such forward-looking statements and
forward-looking information collectively as "forward-looking
statements". Particularly, statements regarding the intended use of
proceeds, the acquisition of the remaining interest in Pure
Sunfarms, and the future results, performance, achievements,
prospects or opportunities for the Company, the greenhouse
vegetable industry, the cannabis industry or other risks discussed
in the Company's Form 10-K filed on April 1,
2020 and its other filings with the SEC are forward-looking
statements. In some cases, forward-looking information can be
identified by such terms as "outlook", "may", "might", "will",
"could", "should", "would", "occur", "expect", "plan",
"anticipate", "believe", "intend", "try", "estimate", "predict",
"potential", "continue", "likely", "schedule", "objectives", or the
negative or grammatical variation thereof or other similar
expressions concerning matters that are not historical facts. When
relying on forward-looking statements to make decisions, the
Company cautions readers not to place undue reliance on these
statements, as forward-looking statements involve significant risks
and uncertainties and should not be read as guarantees of future
results, performance, achievements, prospects and opportunities.
The forward-looking statements made in this press release relate
only to events or information as of the date on which the
statements are made in this press release. Except as required by
law, the Company undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events.
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SOURCE Village Farms International, Inc.