Delta BC’s
Village Farms International Inc. (
TSX.VFF) has announced that it has entered into definitive agreements with certain institutional investors for the purchase and sale of an aggregate of 10,887,097 common shares in a registered direct offering.
Each share is being sold at a public offering price of US$12.40, working out to over CAD$15 per share. Per unit for gross proceeds of approximately US$135 million (approximately CA$171 million) before placement agent fees and other offering expenses payable by Village Farms.
The net proceeds from this offering are intended to be used for general working capital purposes.
Upon closing of the offering there were 77,818,908 issued and outstanding common shares of Village Farms.
Full news release
here.
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