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 consideration that is partial of purchase of around 36.96 million Pure Sunfarms Corp stocks from Emerald that Village Farms didn’t very own. Following payment, Village Farms presently doesn’t owe any amounts to Emerald wellness about the Pure Sunfarms transaction.
Village Farms exercise the option to increase ownership in Altum
Also, the ongoing company has announced the exercising of the portion of its option for additional equity investment in Altum International. The company will increase its equity investment in the Asia-Pacific cannabinoid platform from 6.6% to around 10%. Michael DeGiglio, Village Farms’ CEO, said that the Altum team has made strong and progress that is steady its company plan execution. Because of this, they increase their equity stake in Altum on comparable terms because the investment that is original. DeGiglio said that Village Farm’s CBD/cannabis that is international strategy appearing areas with massive long-lasting prospective via partnerships.
The company’s Altum investment represents a way that is capital-efficient of in opportunities in the Asia Pacific region. Most importantly, Village Farms continues to retain part of the option it did exercise that is n’t providing it the capacity to increase Altum ownership in the foreseeable future.
Pure Sunfarms unveils its very first gummies that are cannabis-infused British Columbia
Recently the company announced that its Pure Sunfarms subsidiary launched its first cannabis-infused products, Pure Sunfarms Real Fruit Gummies. The company launched the Pure Sunfarms Fruit that is real Gummies British Columbia. A variety of potencies and tastes are required into the province along with other areas into the months that are coming. Following the gummies launch, the subsidiary now offers products that are branded most of the five cannabis groups in Canada, including pre-rolls, dried flower, edibles, vapes, and oil. The gummies are pectin-based, vegan, and labels that are clean only natural flavors and colors. Pure Sunfarms CEO Mandesh Dosanjh said that the gummies are an extension of the ongoing company’s brand name and so are prompted by BC fruits.