In a press release sent out on Nov. 26, Village Farms International said it has become the majority owner in Pure Sunfarms, the cannabis operation it co-operates with Emerald Health Therapeutics. Earlier in November, Emerald Health failed to pay $5,940,000 to Pure Sunfarms, causing Village Farms to make an additional payment and take majority ownership.
According to the release, Pure Sunfarms’ management says that the equity has been “properly credited” to Village Farms’ share capital. The change in ownership is reflective to Nov. 19, 2019.
Pure Sunfarms is a greenhouse-grown cannabis operation located in Delta, British Columbia. It is a vertically integrated supplier of large-scale, high-quality cannabis to the Canadian market and produces more than 75,000 kilograms of dried flower annually.
Latest from Produce Grower
- Don’t overlook the label
- Hurricane Helene: Florida agricultural production losses top $40M, UF economists estimate
- Little Leaf Farms introduces Sweet & Crispy Blend
- IFPA’s Foundation for Fresh Produce to launch Sustainable Packaging Innovation Lab with USDA grant
- No shelter!
- Sensaphone releases weatherproof enclosures for WSG30 remote monitoring system, wireless sensors
- Indoor Ag-Con, Sollum Technologies launch scholarship program for college students
- Anu awarded $175K USDA SBIR grant to advance Pure Produce Container technology