Village Farms Raises C$25 Million Promoting Shares at C$9.40 – New Cannabis Ventures


Village Farms International Announces $25 Million Purchased Deal Public Supplying of Widespread Shares

VANCOUVER, Oct. 10, 2019 /CNW/ – Village Farms International, Inc. (“Village Farms” or the “Company”) (TSX: VFF) (NASDAQ: VFF) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Beacon Securities Restricted (“Beacon”), as sole bookrunner, and GMP Securities L.P. (collectively with Beacon, the “Underwriters”), pursuant to which the Underwriters have agreed to obtain, on a purchased deal basis, two,660,000 typical shares (the “Offered Shares”) in the capital of the Corporation at a value of $9.40 per Supplied Share (the “Issue Price”) for aggregate gross proceeds to the Corporation of $25,004,000 (the “Offering”). (All figures are in Canadian dollars unless otherwise stated.)

In addition, the Corporation has granted the Underwriters an more than-allotment solution to obtain up to an extra quantity of Supplied Shares equal to 15% of the Supplied Shares sold pursuant to the Supplying at the Situation Cost, exercisable in entire or in component, by Beacon, on behalf of the Underwriters, at any time, and from time to time, up to 30 days from the closing of the Supplying.

The closing of the Supplying is anticipated to happen on or about October 22, 2019 and is topic to the completion of formal documentation and receipt of all required regulatory and stock exchange approval. The Corporation intends to use the net proceeds of the Supplying for operating capital and common corporate purposes.

The Supplied Shares will be presented in each and every of the provinces of Canada, other than Québec, pursuant to the Company’s base shelf prospectus dated June 20, 2019 (the “Base Prospectus”) and may perhaps be presented in the United States to Certified Institutional Purchasers (as defined in Rule 144A under the United States Securities Act of 1933, as amended (the “1933 Act”)) by way of private placement pursuant to an exemption from the registration needs of the 1933 Act, or below other exemptions from the registration requirement that are out there below the 1933 Act, and pursuant to any applicable securities laws of any state of the United States. The Supplied Shares may perhaps also be sold in such other jurisdictions as the Corporation and Beacon may perhaps agree. The terms of any supplying will be described in a prospectus supplement to be filed with the securities commission in each and every of the provinces of Canada, other than Québec (the “Prospectus Supplement”).

Copies of the Prospectus Supplement, following filing thereof, and accompanying Base Prospectus will be out there on SEDAR at Alternatively, copies of the Prospectus Supplement and Base Prospectus may perhaps be obtained, when out there, from Beacon Securities Restricted, 66 Wellington Street West, Suite 4050, Toronto, ON M5K 1H1. The Base Prospectus includes, and the Supplement will include, crucial detailed information and facts about the Corporation and the Supplying. Potential investors should really study the Prospectus Supplement and accompanying Base Prospectus and the other documents the Corporation has filed prior to generating an investment choice.

This press release does not constitute an present to sell or the solicitation of an present to purchase securities in the United States, nor in any other jurisdiction in which such present, solicitation or sale would be unlawful.

About Village Farms International, Inc.

Village Farms is one particular of the biggest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse create business in Canada. Village Farms produces and distributes fresh, premium-excellent create with consistency 365 days a year to national grocers in the U.S. and Canada from extra than nine million square feet of Controlled Atmosphere Agriculture (CEA) greenhouses in British Columbia and Texas, as nicely as from its companion greenhouses in British Columbia, Ontario and Mexico. The Corporation is now leveraging its 30 years of practical experience as a vertically integrated grower for the quickly emerging international cannabis chance by means of its 50% ownership of British Columbia-primarily based Pure Sunfarms Corp., one particular of the single biggest cannabis expanding operations in the globe. The Corporation also intends to pursue possibilities to develop into a vertically integrated leader in the U.S. hemp-derived CBD market place, topic to compliance with all applicable U.S. federal and state laws, Village Farms has established two joint ventures, Village Fields Hemp and Arkansas Valley Green and Gold Hemp, for outside hemp cultivation and CBD extraction and is pursuing controlled atmosphere hemp production at a portion of its Texas greenhouse operations, which total five.7 million square feet of production location.

Original press release

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Published by NCV Newswire

NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate higher excellent content material and information and facts about top cannabis businesses to assist our readers filter out the noise and to keep on prime of the most crucial cannabis company news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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