Village Farms Repays Debt Owed To Emerald Health Therapeutics

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.

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.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Pure Sunfarms Top Brand In Ontario, Enters Alberta

Pure Sunfarms, the cannabis joint venture between that of Village Farms (TSX: VFF) (NASDAQ: VFF)...

Wednesday, February 26, 2020, 08:33:47 AM

Emerald Health Sees Revenues Decline 32% To $2.9 Million In First Quarter 2020

Revenues continue to decline for Emerald Health Therapeutics (TSXV: EMH), with the firm posting first...

Friday, June 19, 2020, 08:00:00 AM

Emerald Health Sells Quebec Subsidiaries For $21.0 Million In Cash

Emerald Health Therapeutics (TSXV: EMH) is leaving Quebec. The company announced this morning that it...

Friday, July 31, 2020, 08:53:43 AM

Village Farms Announces Share Buyback Program

While its peers elect to dilute their equity via massive at-the-market financings, Village Farms (TSX:...

Friday, May 21, 2021, 07:32:44 AM

Village Farms: Analysts Expect Q3 Revenues To Hit US$68.7 Million

Village Farms International (TSX: VFF) announced that they will be reporting their third quarter financials...

Monday, November 8, 2021, 05:17:00 PM