Village Farms International Recognized for Canadian Cannabis Business

Sep 27, 2022

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Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) today announced its wholly owned subsidiary, Pure Sunfarms, ranked as the 17th fastest growing company by the Globe and Mail's Report on Business, which named Canada's Top Growing Companies across all industry sectors. Pure Sunfarms three-year revenue growth rate of 2,320 per cent also ranked it as the fastest growing Canadian cannabis company.

"Each recognition of the performance of our Canadian Cannabis business further highlights the strength and success of the Village Farms model and strategy in the cannabis industry," said Michael DeGiglio, Chief Executive Officer, Village Farms.  "We not only led the Canadian cannabis industry in revenue growth over the past three years but have also been consistently EBITDA positive throughout that period – now 15 consecutive quarters.  We look forward to continued growth and success in the Canadian cannabis market and executing on our plans to bring to bear the invaluable experience we have gained in Canada to additional opportunities at home and around the world."

"Having been founded by Village Farms and using their established growing operations, we have been able to leverage decades of experience in controlled environment agriculture with a go-slow-and-grow business strategy," said Mandesh Dosanjh, President and CEO, Pure Sunfarms. "It is this unrivaled cultivation and operational know-how, combined with the expertise and execution of our teams, that has set us apart as the fastest growing Canadian cannabis company in what is often characterized as a volatile and disruptive industry."

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