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Village Farms International Announces that Emerald Shareholders Have Voted in Favour of the Sale of Emerald's Stake in Pure Sunfarms to Village Farms

VANCOUVER, BC, Oct. 29, 2020 /CNW/ - Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) (TSX: VFF)A today announced that the shareholders of Emerald Health Therapeutics, Inc. ("Emerald"), atA  Emerald's annual and special meeting earlier today voted in favour of the sale of Emerald's 36,958,500 common shares of Pure Sunfarms Corp. ("Pure Sunfarms"), representing approximately 41.3% of the issued and outstanding common shares of Pure Sunfarms, to Village Farms (the "Pure Sunfarms Transaction").With the Pure Sunfarms Transaction approved by Emerald's shareholders, Village Farms expects to complete the Pure Sunfarms Transaction in the coming days, once Emerald receives formal TSX-V approval and all the other closing conditions have been satisfied. Upon completion of the Pure Sunfarms Transaction, Village Farms will own 100% of the common shares of Pure Sunfarms.About Village Farms International, Inc.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 inA cannabis and CBD in North America and selected markets internationally.In Canada, British-Columbia-based Pure Sunfarms is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer, one of the best-selling brands, and has generated profitability for six consecutive quarters.
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