Bullboard - Stock Discussion Forum Village Farms International Inc VFF

Consumer Defensive Farm Products

Village Farms International, Inc. is a vertically integrated supplier of plant-based consumer packaged goods in the cannabis and cannabidiol (CBD) categories in North America and selected markets internationally. The Company’s segments include Produce, Cannabis Canada, Cannabis United States and Energy. The Produce segment produces, markets, and sells quality tomatoes, bell peppers and... see more

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Village Farms International Inc > Enters Option Agreement to Acquire 80% of Leli Holland

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Post by Betteryear2 on Sep 28, 2021 7:11am

Enters Option Agreement to Acquire 80% of Leli Holland

VANCOUVER, BC, Sept. 28, 2021 /PRNewswire/ - Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ:VFF) (TSX:VFF) today announced it has entered into an option agreement whereby the Company has received the irrevocable right to acquire an 80% ownership interest (the "Option Agreement") in Netherlands-based Leli Holland B.V. ("Leli") upon payment of EUR50,000 (the "Option"). Leli is one of the ten applicants selected by lottery to receive a license (subject to customary government approval) to legally cultivate and distribute cannabis to retailers (known as "coffee shops") when the Dutch government implements its Experiment to Investigate Closed Cannabis Supply Chains (the "Dutch Supply Chain Experiment", also known by the Dutch acronym "WECG"). The Dutch Supply Chain Experiment, which is scheduled to operate for a minimum of four years with the potential for national expansions, is expected to be the first legal recreational cannabis market in Europe.

https://www.prnewswire.com/news-releases/village-farms-international-enters-option-agreement-to-acquire-80-of-leli-holland-one-of-ten-applicants-eligible-for-a-netherlands-cannabis-production-license-in-what-is-expected-to-be-first-legal-recreational-market-in-europe-301386390.html

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