Village Farms files for NASDAQ listing

Village Farms has filed an application to list its common shares on NASDAQ Capital Market under the symbol “VFF”. Village Farms’ common shares will continue to be listed on the Toronto Stock Exchange (TSX), also under the symbol “VFF”.

“As a company with substantive U.S. assets and operations and, with our recently announced intention to aggressively pursue potential opportunities in the now federally legal U.S. hemp and CBD industry, the listing of our common shares on NASDAQ is intended to provide broader exposure to, and greater liquidity for, U.S. investors,” said Michael DeGiglio, Chief Executive Officer, Village Farms. “A NASDAQ listing will provide Village Farms with access to the largest equity market in the world to support our intended hemp and CBD growth strategy should U.S. state laws follow the U.S. federal decision to legalize hemp, as well as, potentially, for cannabis, in the event that it is federally legalized in the U.S.”

Village Farms also announced that its Canadian cannabis joint venture, Pure Sunfarms, has completed conversion of all of the growing area in the fourth and final quadrant of its 1.1 million square foot greenhouse facility in Delta, British Columbia. The fourth quadrant, totaling approximately 206,000 square feet of growing area, along with approximately 138,000 square feet of growing area in the third quadrant (conversion of which was completed in 2018), are currently under review by Health Canada in respect of amendment of Pure Sunfarms’ cultivation license, which will, in aggregate, expand Pure Sunfarms’ permitted production area by approximately 344,000 square feet to just over 1.03 million square feet, with the remaining approximately 69,000 square feet of the 1.1 million square foot facility currently in the process of being converted for extraction activities. Pure Sunfarms plans to put the approximately 344,000 square feet of greenhouse currently under review by Health Canada into production as soon as Health Canada’s review is complete and its cultivation license is amended.

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