Village Farms International Refinances and Extends Canadian Cannabis Credit Agreement

Company Overview - Village Farms International, Inc. is a vertically integrated supplier specializing in high-value, high-growth plant-based Consumer Packaged Goods, leveraging decades of experience in Controlled Environment Agriculture [3] - The company is a leading fresh produce supplier in the US and Canada and is expanding into high-growth opportunities in the cannabis and CBD sectors [3] Recent Developments - Village Farms has refinanced its syndicated Canadian Cannabis Term Loans, consolidating three previous loans into one facility with a variable interest rate below 8.0 percent, reflecting a 50 basis point improvement [1] - The new credit facility has improved financial covenants and a maturity date extended to February 7, 2028, replacing the previous loans maturing on February 7, 2026 [1] Strategic Positioning - The company's subsidiary, Pure Sunfarms, is one of the largest cannabis operations globally and a leading brand in Canada, recognized for being the lowest-cost greenhouse producer [4] - Village Farms holds an 80% stake in Rose LifeScience, a prominent third-party cannabis products commercialization expert in Québec [4] International Expansion - Village Farms is targeting emerging legal cannabis and CBD markets internationally, exporting medical cannabis to countries like Germany, the UK, Israel, and Australia [5] - The company is expanding its international footprint with new export contracts and strategic investments in the Asia-Pacific and European regions [5] US Market Strategy - In the US, Village Farms plans to enter the high-THC cannabis market, leveraging its extensive greenhouse operations in West Texas and the expertise gained from Pure Sunfarms [6] Clean Energy Initiatives - Village Farms Clean Energy, in partnership with Terreva Renewables, generates clean energy from landfill gas, significantly reducing greenhouse gas emissions in Vancouver [7]