– Pure Sunfarms Expects to Begin Shipping Branded Cannabis Products to the OCRC and BCLDB in the Coming Weeks –
VANCOUVER, Sept. 9, 2019 /PRNewswire/ – Village Farms International, Inc. (“Village Farms” or the “Company”) (TSX: VFF;Nasdaq: VFF) today announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received from Health Canada the amendment to its license permitting it to sell and distribute packaged, Pure Sunfarms-branded dried cannabis products directly to provincial/territorial wholesalers and authorized private retailers in accordance with provincial/territorial frameworks in Canada (sometimes referred to as a “packaging license”), effective immediately.
Pure Sunfarms has supply agreements in place with the Ontario Cannabis Retail Corporation (the “OCRC”, operating as the Ontario Cannabis Store) and the British Columbia Liquor Distribution Branch (the “BCLDB”) and expects to begin shipping Pure Sunfarms-branded products to both the OCRC and BCLDB in the coming weeks. Combined, Ontario and British Columbia comprise more than half of Canada’s population.
“We’re thrilled to receive this amendment to our license and be able make our product available to cannabis consumers across the country,” said Mandesh Dosanjh, President and Chief Executive Officer, Pure Sunfarms. “Pure Sunfarms will begin to roll out our consumer brand over the coming weeks and Canadian consumers will soon be able to try our product, proudly grown right here in B.C., for themselves. Cultivated with the highest standards by the most experienced growers in the industry, we believe the quality of our cannabis, will speak for itself.”
“Pure Sunfarms has already established itself as a premiere supplier of cannabis products to other licensed producers and with this amendment it can now begin building a differentiated and enduring brand based on its best-in-class, low-cost growing operations with Canadian consumers,” said Michael DeGiglio, CEO, Village Farms International. “The ability to now sell Pure Sunfarms-branded products directly to the provinces and territories comes on the heels of Pure Sunfarms’ first 1.1 million square foot greenhouse reaching full production of 75,000 kilograms annually in July, and will further support Pure Sunfarms’ industry leading gross margin and position it for continued growth in revenue and profitability. And we look forward to Pure Sunfarms quickly expanding distribution into additional provinces as it moves toward doubling its production capacity to a minimum of 150,000 kilograms annually next year.”
Pure Sunfarms continues to advance discussions with other provincial distributors for potential supply agreements to further expand its presence in the Canadian cannabis market.
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