Village Farms files a Universal Shelf Registration Statement on Form S-3
VANCOUVER, BC, July 12, 2021 / PRNewswire / – Village Farms International, Inc. (the “Company” or “Village Farms”) (TSX: VFF) (NASDAQ: VFF) announced today that it has filed a Universal Registration Statement on the Form S-3 (the “” New Registration Statement “) with the United States Securities and Exchange Commission (the” SEC “), for an unlimited number of securities which may be offered from time to time in the future , replacing the store registration statement on the SEC Form S-3 by april 2020. Village Farms has become a “well-known seasoned transmitter” (“WKSI“) under SEC rules and files the new registration statement to take advantage of certain benefits reserved for WKSIs.
Filing the new registration statement will give Village Farms the flexibility to issue securities in one or more future offerings, including where necessary to pursue strategic opportunities. The specific terms of such an offer will be described in detail in a prospectus supplement filed at the time of such offer (s). At this time, Village Farms has no immediate plans to offer titles under the new registration statement.
This press release is not an offer to sell or a solicitation of an offer to buy, and there will be no sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be. unlawful prior to registration or qualification under the title laws of such state or jurisdiction. Any offering of the securities covered by the new registration statement will be made only by way of the prospectus included in the new registration statement and a related prospectus supplement relating to such offering which will be filed with the SEC.
About Village Farms International, Inc.
Village Farms is one of the largest and oldest greenhouse producers in North America. The company draws on decades of experience in large-scale, low-cost intensive agriculture as a vertically integrated product supplier to seek opportunities for high value-added plant-based consumer packaged goods and growing in cannabis and CBD in North America and select markets internationally.
The wholly owned Canadian subsidiary of the Company, British ColumbiaPure Sunfarms, is currently one of the largest cannabis farms in the world, one of the cheapest greenhouse producers and one of the best-selling brands in Canada.
In the United States, subject to compliance with all applicable federal and state laws, Village Farms pursues a strategy to become a leading developer and supplier of branded and white label CBD products targeting major retailers and product companies. consumer packaged. Village Farms owns one of the largest greenhouse operations in the country and is strategically positioned to use its agricultural experience and the operational and product expertise of Pure Sunfarms, to pursue potential high THC cannabis opportunities as legally permitted. to do it.
Internationally, Village Farms is evaluating and targeting selected, emerging and legal cannabis and CBD opportunities with significant long-term potential, initially focusing on the Asia Pacific region through its investment in Australiabased at Altum International.
Caution regarding forward-looking information
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act. of 1934, as amended (the “Exchange Act”), and is subject to the safe harbor created by these sections. This press release also contains “forward-looking information” within the meaning of applicable Canadian securities laws.
We refer to these forward-looking statements and information collectively as “forward-looking statements”. Forward-looking statements may relate to the future prospects or financial condition of the Company and anticipated events or results and may include statements regarding the financial condition, business strategy, budgets, expansion plans, litigation, projected production , projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. In particular, statements regarding future results, performance, achievements, prospects or opportunities for the Company, the greenhouse vegetable industry or the cannabis industry are forward-looking statements. In some cases, forward-looking information may be identified by terms such as “outlook”, “could”, “could”, “will”, “could”, “should”, “could”, “arise”, “s’ wait “,” plan “,” anticipate “,” believe “,” intend “,” try “,” estimate “,” predict “,” potential “,” continue “,” probable “,” plan “, “objectives”, or the negative or grammatical variation thereof or other similar expressions relating to matters which are not historical facts.
The forward-looking statements contained in this press release are subject to risks which may include, without limitation, our ability to continue our greenhouse business at the current scale, cost and our ability to continue to be. a vertically integrated and legal product supplier, the financial and regulatory risks of pursuing opportunities for high-value, high-growth, plant-based consumer packaged goods in cannabis and CBD in North America and select markets on an international scale, our ability to maintain low costs and a leading position in the market Canada. Our strategy to pursue a leading position as a developer and supplier of branded and white label CBD products targeting major retailers and consumer packaged products companies and the pursuit of potential high THC cannabis opportunities are subject to risks associated with the legal status of cannabis business; risks associated with obtaining additional financing, including our reliance on credit facilities; potential difficulties in achieving and / or maintaining profitability; variability in product prices; risks inherent in the cannabis, hemp and agriculture businesses, existing and new government regulations, regulatory compliance and licensing, and changes in our regulatory requirements; risks related to rules and regulations at the US Federal (Food and Drug Administration), state and municipal levels with respect to produce and hemp; retail consolidation, technological advances and other forms of competition; transport disruptions; product liability and other potential litigation; retention of key executives; labor issues; uninsured and underinsured losses; vulnerability to rising energy costs; environmental, health and safety risks, currency exposure, risks associated with cross-border trade; difficulties in managing our growth; covenants under our credit facilities; natural disasters; the ongoing and developing COVID-19 pandemic; and tax risks.
The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes could affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this press release are based on what management believes to be reasonable assumptions based on information currently available to it, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the actual results, performance, achievements, prospects and opportunities of the Company or the industry. for future periods differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, factors contained in documents filed by the Company with securities regulatory authorities, including this press release. In particular, we caution you that our forward-looking statements are subject to the current and developing circumstances relating to the COVID-19 pandemic, which may have a material adverse effect on our business, operations and future financial results.
When relying on forward-looking statements in making decisions, the Company cautions readers not to place undue reliance on such statements, as forward-looking statements involve significant risks and uncertainties and should not be construed as guarantees of future results, performances, achievements, prospects and opportunities. Forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events. events.
SOURCE Village Farms International, Inc.