Village Farms Overseas Inc. (NASDAQ:VFF) has established it has completely paid back the $15.6 million accrued plus promissory interest of $486,849.78 that it initially issued to Emerald health therapeutics Inc. The repayment is a partial consideration of the acquisition of around 36.96 million Pure Sunfarms Corp shares from Emerald that Village Farms didn’t own. Following the repayment, Village Farms currently doesn’t owe any amounts to Emerald Health regarding the Pure Sunfarms transaction.
Village Farms exercise the option to increase ownership in Altum
Also, the ongoing business has established the exercise for the percentage of its selection for extra equity investment in Altum Overseas. The business increases its equity investment within the Asia-Pacific cannabinoid platform from 6.6% to around 10percent. Michael DeGiglio, Village Farms’ CEO, stated that the Altum group has made strong and progress that is steady its business plan execution. As a result, they increase their equity stake in Altum on similar terms as the investment that is original. DeGiglio said that Village Farm’s CBD/cannabis that is international strategy emerging markets with massive long-term potential via partnerships.
The company’s Altum investment represents a way that is capital-efficient of in possibilities within the Asia Pacific area. Above all, Village Farms continues to retain the main choice it did exercise that is n’t giving it the ability to increase Altum ownership in the future.
Pure Sunfarms unveils its first gummies that are cannabis-infused Uk Columbia
Recently the business announced that its Pure Sunfarms subsidiary established its very first cannabis-infused items, Pure Sunfarms Real Fruit Gummies. The business established the Pure Sunfarms Fruit that is real Gummies British Columbia. A range of potencies and flavors are expected in the province and other regions in the months that are coming. After the gummies launch, the subsidiary now provides products that are branded all the five cannabis categories in Canada, including pre-rolls, dried flower, edibles, vapes, and oil. The gummies are pectin-based, vegan, and labels that are clean only natural tastes and colors. Pure Sunfarms CEO Mandesh Dosanjh stated that the gummies are an extension of this ongoing company’s brand name and are also encouraged by BC fruits.