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Village Farms' Pure Sunfarms JV to supply B.C. with pot

2019-09-04 07:47 ET - News Release

See News Release (C-VFF) Village Farms International Inc

Mr. Mandesh Dosanjh of Pure Sunfarms reports

VILLAGE FARMS INTERNATIONAL ANNOUNCES PURE SUNFARMS' CANNABIS SUPPLY AGREEMENT WITH BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH

Village Farms International Inc.'s 50-per-cent-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has entered into a supply agreement with the British Columbia Liquor Distribution Branch (BCLDB) to supply the BCLDB with Pure Sunfarms-branded cannabis products for the recreational market in the province of British Columbia.

Pure Sunfarms will begin shipping packaged product to the BCLDB, as well as the Ontario Cannabis Retail Corp. (the OCRC, operating as the Ontario Cannabis Store), with which it entered into a supply agreement in February, 2019, as soon as possible upon receipt of its licence amendment permitting sales and distribution directly to provincial/territorial wholesalers and authorized private retailers in accordance with provincial/territorial frameworks in Canada.

Combined, Ontario and British Columbia comprise more than half of Canada's population, with Ontario (Canada's most populated province) and British Columbia (Canada's third most populated province) comprising more than 38 per cent and more than 13 per cent of Canada's population, respectively). Pure Sunfarms also continues to advance discussions with other provincial distributors for potential supply agreements.

"The announcement of today's supply agreement with the BCLDB represents a major milestone for Pure Sunfarms," said Mandesh Dosanjh, president and chief executive officer, Pure Sunfarms. "We are proudly B.C. based, cultivating cannabis to the highest standards by the most experienced growers in the industry, and look forward to having Pure Sunfarms product available in our home province."

"Pure Sunfarms is already one of Canada's largest cannabis producers, with an outstanding reputation for quality, consistency, safety and reliability," said Michael DeGiglio, CEO, Village Farms International. "This supply agreement for Canada's third most populous province will significantly expand Pure Sunfarms' market reach when it begins sales directly to provincial and territorial wholesalers, taking the next step in establishing Pure Sunfarms as a premiere national brand with Canadian cannabis consumers."

About Village Farms International Inc.

Village Farms is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada. Village Farms produces and distributes fresh, premium-quality produce with consistency 365 days a year to national grocers in the United States and Canada from more than nine million square feet of controlled environment agriculture (CEA) greenhouses in British Columbia and Texas, as well as from its partner greenhouses in British Columbia, Ontario and Mexico. The company is now leveraging its 30 years of experience as a vertically integrated grower for the rapidly emerging global cannabis opportunity through its 50-per-cent ownership of British Columbia-based Pure Sunfarms Corp., one of the single largest cannabis growing operations in the world. The company also intends to pursue opportunities to become a vertically integrated leader in the U.S. hemp-derived cannabidiol market, subject to compliance with all applicable U.S. federal and state laws.

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