SEATTLE, Oct. 23, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- FN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article and exclusive executive video interview discussing how Village Farms International Inc. (TSXV: VFF) (OTCQX: VFFIF) is leveraging its 30 years of experience as a vertically integrated greenhouse grower for the rapidly emerging global cannabis opportunity. The company is initially focused in Canada through its 50% ownership of British Columbia-based joint venture Pure Sunfarms Corp., which is rapidly expanding cannabis production and on track to be one of the single largest cannabis growing operations in the world. Expansion into cannabis production is expected to significantly transform the earnings power of Village Farms.
Please follow the link to watch on YouTube: https://www.youtube.com/watch?v=GEYqZY02x3k
Pure Sunfarms has completed conversion of and is growing cannabis in the first half of its 1.1 million square foot state-of-the-art greenhouse in Delta, British Columbia for supply to the legal adult-use market in Canada. Conversion of the remaining 550,000 square feet continues to progress on plan and remains on schedule for completion before the end of this year. In addition, Pure Sunfarms has the potential to expand production in Canada to 4.8 million square feet through options on two additional greenhouses currently owned by Village Farms that are immediately adjacent to the 1.1 million square foot facility.
The technologically-advanced Pure Sunfarms greenhouse design is based on decades of large-scale, low-cost agricultural production experience and extensive cannabis expertise, resulting in a state-of-the-art facility with 17 grow rooms optimized for year-round harvesting (more than 85 harvests annually) and an automated processing line encompassing harvesting, trimming, drying and packaging.
Village Farms reports that Pure Sunfarms’ production ramp up is exceeding expectations. There are currently multiple strains in production, and the company is selling product to other Licensed Producers for the newly-christened legal adult-use market, as it advances toward potential distribution agreements with provincial government buyers. Importantly, Pure Sunfarms is well on its way to attaining its stated goal of achieving a production cost below $1/gram and becoming the low-cost producer in Canada.
Beyond Canada, independent of the Pure Sunfarms joint venture, Village Farms owns and operates 5.7 million square feet of greenhouse facilities (including one of the most technologically advanced greenhouses in the world) in West Texas, one of the best growing environments in North America. With unmatched operational capabilities in large-scale, low-cost growing, Village Farms is uniquely positioned for potential future opportunities in industrial hemp and/or cannabis, should those products be legalized under the relevant jurisdictions. Village Farms’ CEO, Michael DeGiglio, believes the additional learnings gained through the conversion and production ramp at the Pure Sunfarms facility in Canada will be of tremendous value as the company pursues U.S. and other international opportunities.
Please follow the link to read the full article and see the video: http://www.cannabisfn.com/village-farms-exclusive-onsite-video-interview/
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