January 20, 2021
Torys represented Village Farms with a team that included Michael Zackheim, Brett Saulnier and Alison Shamie (corporate/Canadian securities), Chris Bornhorst and Nicholas Clarkin (U.S. securities).
On January 20, 2021, Village Farms International, Inc. ("Village Farms") announced that it closed its previously announced registered direct offering with certain institutional investors for the purchase and sale of an aggregate of 10,887,097 common shares at a purchase price of US$12.40 (approximately C$15.70) per unit for gross proceeds of approximately US$135 million (approximately C$171 million).
A.G.P./Alliance Global Partners and Raymond James (USA) Ltd. acted as co-lead placement agents and Roth Capital Partners acted as co-placement agent for the offering. Beacon Securities Limited acted as financial advisor for the offering.
The net proceeds from this offering are intended to be used for general working capital purposes.
Further information can be found on Canada Newswire’s website.
Village Farms is one of the largest and longest-operating greenhouse growers in North America, and is leveraging its decades of experience as a large-scale, low-cost intensive agriculture and vertically integrated produce supplier to pursue high-value, high-growth plant-based Consumer Packaged Goods opportunities in cannabis and CBD in North America and select markets internationally.