Village Farms International (
TSX.VFF) is looking to take its talents to Holland. The company, which has majority control in the Pure Sunfarms cannabis producer, said Wednesday it acquired a
16-per-cent stake in Netherlands-based cannabis enterprise DutchCanGrow.
The company plans to apply this month to local Dutch government to be one of the cannabis growers licensed to supply some coffee shops in the Netherlands in a pilot program to include 10 cities.
Village Farms CEO Michael DeGiglio said the company expects to hear back from Dutch authorities by the end of the year, whether or not its application has been successful. The CEO added some of Village Farms' senior employees are Dutch, which likely helped the company secure its deal with DutchCanGrow.
According to Village Farms, there are around 600 coffee shops that sell cannabis in the Netherlands.
New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.
For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.