Launch of Pure Sunfarms-Grown Products Follows Start of Sales to Israel in January
VANCOUVER, British Columbia, May 04, 2023 — Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced the launch in Germany of cannabis products grown by its Canadian Cannabis business (wholly owned subsidiary, Pure Sunfarms). The German launch is in partnership with IUVO Therapeutics GmbH (“IUVO”), an importer, marketer and distributor of medical cannabis for the German market. IUVO expects Pure Sunfarms’ Pink Kush to be available to German patients in the coming days.
“Commencing cannabis product sales in Germany is another meaningful step forward in our international cannabis strategy,” said Michael DeGiglio, Chief Executive Office, Village Farms. “Robust consumer demand for our differentiated products, led by the same Pink Kush dried flower that will be available to German consumers, drove a ten-fold increase in Village Farms’ cannabis exports to Australia during 2022. Together with Australia and Israel, Germany adds a third international market where we have demonstrated our ability to respond to rigorous testing standards and deliver an exceptional product to medical consumers. Pursuing more profitable export opportunities is an important part of our growth strategy, while we continue to delight Canadian consumers with our consistent, high quality, British Columbia-grown flower.”
“The launch of Pure Sunfarms grown cannabis products in Germany – the largest market in Europe – means German patients will soon have access to one of Canada’s top brands, starting with the country’s number one selling dried flower product, our own Pink Kush1,” said Mandesh Dosanjh, President and CEO, Pure Sunfarms, “Originally offered in Canada in June 2020, Pure Sunfarms’ Pink Kush is a major contributor to Village Farms’ Canadian Cannabis business catapulting to the overall number two market share position nationally1.”
“We are excited to announce our partnership with Village Farms International,” said Jonathan Lubosch-Haenisch, CEO of IUVO. “Our commitment to delivering the highest value to our patient community means we are highly selective about our partners, and Pure Sunfarms was a natural choice. We are proud to bring their proven success from Canada to Germany, and to offer patients access to terpene-rich, sun-grown cannabis products at an exceptional price point.”
- For the quarter ended December 31, 2022 and the months of January and February 2023. Based on estimated retail sales from HiFyre, other third parties and provincial boards.
About IUVO Therapeutics
IUVO Therapeutics is a German pharmaceutical company specializing in importing, marketing, and distributing medical cannabis. With a commitment to advance the conversation about cannabis in Germany, IUVO aims to overcome polarity and stigmatization. Between the frontlines, IUVO sides with reason, not opinion, and aims to expand the space for true freedom of choice – for everyone involved. While IUVO loves cannabis, the company acknowledges that it’s not for everyone.
About Village Farms International, Inc.
Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods opportunities, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, and new high-growth opportunities in the cannabis and CBD categories in North America and selected markets internationally.
In Canada, the Company’s wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of Canada’s best-selling brands. The Company also owns 70% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec.
In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms’ cannabis success in Canada.
Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential, with an initial focus on the Asia-Pacific region, Israel and Europe.