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.
How Database Integrations Can Improve Every Step in Your Cannabis Supply Chain Labeling
At any step in the cannabis supply chain, your labeling system should allow for full control and traceability, from seed to sale. Implementing lean principles and labeling best practices across the cannabis supply chain can help you streamline your seed-to-sale labeling process and help you gain control.