Village Farms International Announces $10 Million Private Placement

Published: May 18, 2018

Village Farms International Announces $10 Million Private Placement

Village Farms International Inc. has agreed to issue, on a private placement basis, 1,886,793 common shares of the Company to certain accredited investors at a price of CAD$5.30 per common share for total gross proceeds of approximately CAD$10,000,000. The net proceeds of the Offering will be used, if required, to contribute capital to Pure Sunfarms Corp., the Company’s 50%-owned joint venture for large-scale, low-cost, high quality cannabis production in Canada, as it continues conversion of, and ramps up commercial production at, its 1.1 million square foot Delta 3 greenhouse, as well as for general working capital purposes.