Village Farms Income Fund completes conversion to a corporation

Torys acted as counsel to Village Farms with a team that included Glen Johnson, Michael Zackheim, Gabi Cohen and Charmaine Craig (corporate/securities), Linda Plumpton and Gillian Dingle (litigation), Corrado Cardarelli and Richard Johnson (tax).

On December 31, 2009, Village Farms Income Fund (TSX: VFF.UN) (the Fund) completed a court-approved plan of arrangement under section 192 of the Canada Business Corporations Act. The conversion was implemented on a rollover basis for tax purposes, where holders of the Fund's ordinary trust units transferred those units to the new public company, Village Farms International, Inc., in exchange for common shares. The conversion was approved at a special meeting of the Fund's voting unitholders on December 9, 2009, and the common shares are expected to commence trading on the TSX on or around January 5, 2010.

Further information is found on Canada Newswire's website.