Village Farms completes C$10 million private placement of common shares

Torys acted as counsel to Village Farms with a team that included Michael Zackheim and Riley Harmon (corporate/securities).

On May 18, 2018, Village Farms International, Inc. ("Village Farms") announced that it agreed to issue, on a private placement basis, 1,886,793 common shares to certain accredited investors at a price of C$5.30 per common share for total gross proceeds of approximately C$10,000,000.

The offering closed on May 24, 2018.

The net proceeds of the offering will be used, if required, to contribute capital to Pure Sunfarms Corp., Village Farm's 50%-owned joint venture for large-scale, low-cost, high quality cannabis production in Canada, as it continues conversion of, and ramps up commercial production at, its 1.1 million square foot Delta 3 greenhouse, as well as for general working capital purposes.

Village Farms is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada.

Further information can be found on Canada Newswire's website.