Another interesting name in the cannabis space is Village Farms International Inc (OTCMKTS:VFFIF). The stock has been broadly outperforming over larger timeframes, but underperforming over the past two months relative to other cannabis-related plays. However, there’s a cure for that when the primary limitation appears to be about the balance sheet: non-toxic fundraising.
As a case in point, the company just announced that it has completed its previously announced bought deal offering of 3,097,200 common shares in the capital of the Company at a price of $7.13 per Offered Share for aggregate gross proceeds to the Company of $22,083,036. According to the release, “The Offering was conducted by a syndicate of underwriters led by Beacon Securities Limited, and including GMP Securities L.P. The Offering included 287,200 Offered Shares issued pursuant to a partial exercise of the Underwriters’ over-allotment option.”
Village Farms International Inc (OTCMKTS:VFFIF), together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($17M against $36.7M, respectively).
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
The company operates in two segments, Produce Business and Energy Business.
It also owns and operates a 7.0 megawatt power plant from landfill gas that generates and sells electricity to British Columbia Hydro and Power Authority. Village Farms International, Inc. markets and distributes its products under the Village Farms brand name to retail supermarkets and fresh food distribution companies, as well as produced under exclusive arrangements with other greenhouse producers.
The company was formerly known as Village Farms Canada Inc. and changed its name to Village Farms International, Inc. in December 2009. Village Farms International, Inc. was founded in 1989 and is headquartered in Delta, Canada.
The Company is now leveraging its 30 years of experience as a vertically integrated grower for the rapidly emerging global cannabis opportunity through a 50% ownership of British Columbia-based Pure Sunfarms Corp., one of the single largest cannabis growing operations in the world.
As we stated earlier, the company just announced that it has completed its previously announced bought deal offering of 3,097,200 common shares in the capital of the Company at a price of $7.13 per Offered Share for aggregate gross proceeds to the Company of $22,083,036.
This offers up some much-needed capital given the company’s somewhat embattled balance sheet.
VFFIF shares have been relatively flat over the past month of action, with very little net movement during that period. What’s more, the company has witnessed a pop in interest, as transaction volume levels have recently pushed a bit over 180% over what the stock has registered over the longer term.
According to the release, “The Company intends to use the net proceeds of the Offering for working capital purposes, which may include funding certain future capital needs of Pure Sunfarms Corp. as well as other growth opportunities that may arise in respect of the Company’s business over time. Further details can be found in the Company’s short form prospectus dated October 4, 2018, which is available on SEDAR at www.sedar.com.”
Village Farms International Inc (OTCMKTS:VFFIF) managed to rope in revenues totaling $54.3M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top-line growth of -11.3%, as compared to year-ago data in comparable terms.
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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