Village Farms International, Inc. (“Village Farms” or the
“Company”) (NASDAQ: VFF) today announced it will host a conference
call to discuss its second quarter 2024 financial results on
Thursday, August 8, 2024, at 8:30 a.m. ET.
Participants can access the conference call via a webcast at
Village Farms Second Quarter 2024 Conference Call Webcast or on the
company website at Village Farms - Events. Participants wanting to
access the conference call by telephone must register in advance at
Village Farms Second Quarter 2024 Conference Call Registration to
receive telephone dial-in information.
The live question and answer session will be
limited to analysts; however, others are invited to submit
questions ahead of the conference call via email at
investorrelations@villagefarms.com. Management will address
questions received via email during the question and answer session
as time permits.
The Company expects to report its second quarter
2024 financial results via news release on Thursday, August 8,
2024, at 7:00 a.m. ET.
Conference Call Archive Access Information
For those unable to participate in the conference call at the
scheduled time, it will be archived for replay beginning
approximately one hour following completion of the call on Village
Farms’ web site at
http://villagefarms.com/investor-relations/investor-calls.
About Village Farms International,
Inc.
Village Farms leverages decades of experience as
a large-scale, Controlled Environment Agriculture-based, vertically
integrated supplier for high-value, high-growth plant-based
Consumer Packaged Goods opportunities, with a strong foundation as
a leading fresh produce supplier to grocery and large-format
retailers throughout the US and Canada, and new high-growth
opportunities in the cannabis and CBD categories in North America,
the Netherlands and selected markets internationally.
In Canada, the Company's wholly-owned Canadian
subsidiary, Pure Sunfarms, is one of the single largest cannabis
operations in the world, the lowest-cost greenhouse producer and
one of Canada’s best-selling brands. The Company also owns 80% of
Québec-based, Rose LifeScience, a leading third-party cannabis
products commercialization expert in the Province of
Québec.
In the US, wholly-owned Balanced Health
Botanicals is one of the leading CBD brands and e-commerce
platforms in the country. Subject to compliance with all applicable
US federal and state laws and stock exchange rules, Village Farms
plans to enter the US high-THC cannabis market via multiple
strategies, leveraging one of the largest greenhouse operations in
the country (more than 5.5 million square feet in West Texas), as
well as the operational and product expertise gained through Pure
Sunfarms' cannabis success in Canada.
Internationally, Village Farms is targeting
selected, nascent, legal cannabis and CBD opportunities with
significant medium- and long-term potential, with an initial focus
on the Asia-Pacific region and Europe.
Cautionary Statement Regarding
Forward-Looking Information
As used in this Press Release, the terms “Village Farms”,
“Village Farms International”, the “Company”, “we”, “us”, “our” and
similar references refer to Village Farms International, Inc. and
our consolidated subsidiaries, and the term “Common Shares” refers
to our common shares, no par value. Our financial information is
presented in U.S. dollars and all references in this Press Release
to “$” means U.S. dollars and all references to “C$” means Canadian
dollars.
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 U.S. Securities Act of 1933,
as amended, (the "Securities Act") and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
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 laws. We refer to
such forward-looking statements and forward-looking information
collectively as "forward-looking statements". Forward-looking
statements may relate to the Company's future outlook or financial
position and anticipated events or results and may include
statements regarding the financial position, business strategy,
budgets, expansion plans, litigation, projected production,
projected costs, capital expenditures, financial results, taxes,
plans and objectives of or involving the Company. Particularly,
statements regarding future results, performance, achievements,
prospects or opportunities for the Company, the greenhouse
vegetable or produce industry, the cannabis industry and market and
our energy segment are forward-looking statements. In some cases,
forward-looking information can be identified by such terms as
"can", "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. The forward-looking statements in
this Press Release are subject to risks that may include, but are
not limited to: our limited operating history in the cannabis and
cannabinoids industry, including that of Pure Sunfarms, Inc. (“Pure
Sunfarms”), Rose LifeScience Inc. (“Rose” or “Rose LifeScience”)
and Balanced Health Botanicals, LLC (“Balanced Health”); the
limited operational history of the Delta RNG Project in our energy
segment; the legal status of the cannabis business of Pure Sunfarms
and Rose and the hemp business of Balanced Health and uncertainty
regarding the legality and regulatory status of cannabis in the
United States; risks relating to the integration of Balanced Health
and Rose into our consolidated business; risks relating to
obtaining additional financing on acceptable terms, including our
dependence upon credit facilities and dilutive transactions;
potential difficulties in achieving and/or maintaining
profitability; variability of product pricing; risks inherent in
the cannabis, hemp, CBD, cannabinoids, and agricultural businesses;
our market position and competitive position; our ability to
leverage current business relationships for future business
involving hemp and cannabinoids; the ability of Pure Sunfarms and
Rose to cultivate and distribute cannabis in Canada; existing and
new governmental regulations, including risks related to regulatory
compliance and regarding obtaining and maintaining licenses
required under the Cannabis Act (Canada), the Criminal Code and
other Acts, S.C. 2018, C. 16 (Canada) for its Canadian operational
facilities, and changes in our regulatory requirements; legal and
operational risks relating to expected conversion of our
greenhouses to cannabis production in Canada and in the United
States; risks related to rules and regulations at the U.S. Federal
(Food and Drug Administration and United States Department of
Agriculture), state and municipal levels with respect to produce
and hemp, cannabidiol-based products commercialization; retail
consolidation, technological advances and other forms of
competition; transportation disruptions; product liability and
other potential litigation; retention of key executives; labor
issues; uninsured and underinsured losses; vulnerability to rising
energy costs; inflationary effects on costs of cultivation and
transportation; recessionary effects on demand of our products;
environmental, health and safety risks, foreign exchange exposure,
risks associated with cross-border trade; difficulties in managing
our growth; restrictive covenants under our credit facilities;
natural catastrophes; rising interest rates; and tax risks.
The Company has based these forward-looking statements on
factors and assumptions about future events and financial trends
that it believes may affect its financial condition, results of
operations, business strategy and financial needs. Although the
forward-looking statements contained in this Press Release are
based upon assumptions that management believes are reasonable
based on information currently available to management, there can
be no assurance that actual results will be consistent with these
forward-looking statements. Forward-looking statements necessarily
involve known and unknown risks and uncertainties, many of which
are beyond the Company's control, which may cause the Company's or
the industry's actual results, performance, achievements, prospects
and opportunities in future periods to differ materially from those
expressed or implied by such forward-looking statements. These
risks and uncertainties include, among other things, the factors
contained in the Company's filings with securities regulators,
including this Press Release and the Company’s most recently filed
annual report on Form 10-K.
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.
Contact Information
Lawrence ChamberlainInvestor
RelationsLodeRock Advisors(416)
519-4196lawrence.chamberlain@loderockadvisors.com |
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