Village Farms (TSX: VFF) (NASDAQ: VFF) this morning announced that it has materially cleaned up its balance sheet. The company has repaid certain promissory notes owed to that of Emerald Health Therapeutics (TSXV: EMH) in connection with the firms stake in Pure Sunfarms.
The company has now repaid in full $19.9 million owing under the promissory note, as well as $621,534 worth of interest. As a result, the company no longer owes any further funds to Emerald Health in connection with the acquisition of the entirety of Pure Sunfarms.
Additionally, the company this morning also announced that it has increased its equity ownership in Altum International from 6.6% to “just under 10%.” Altum is the Asia-Pacific based cannabinoid distributor that the company took an interest in last fall. The interest was increased via the partial exercise of an option agreement, with the remaining portion still available to be exercised.
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Village Farms last traded at $19.27 on the TSX.
Information for this briefing was found via Sedar and Village Farms International. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
