Village Farms International Seeks Increased Ownership Interest in Pure Sunfarms following Emerald Health Payment Default
Village Farms International, Inc. - Common Shares (VFF)
Last village farms international, inc. - common shares earnings: 3/30 07:25 pm
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Source: PR Newswire
VANCOUVER, Nov. 19, 2019 /PRNewswire/ - Village Farms International, Inc. ("Village Farms") (TSX:VFF; Nasdaq:VFF) today announced that, following an equity payment default by Emerald Health Therapeutics, Inc. ("Emerald") (TSV:EMH) pursuant to the Delta 2 option agreement involving Pure Sunfarms Corp. ("Pure Sunfarms"), Village Farms notified Pure Sunfarms that it has exercised its rights under the Pure Sunfarms shareholders agreement to increase Village Farms' ownership position in Pure Sunfarms and advanced an equity payment to Pure Sunfarms of $5,940,000 (the "VF Additional Equity Contribution"). In accordance with these agreements, Emerald was obligated to pay $5,940,000 to Pure Sunfarms on November 1, 2019. Following Emerald's failure to make this equity payment, Pure Sunfarms issued a default notice to Emerald. Emerald nonetheless remained in default following the expiration of the contractual cure period earlier today.Assuming the VF Additional Equity Contribution is accepted by
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VFF
Earnings
- 11/7/24 - Beat
VFF
Sec Filings
- 11/14/24 - Form SC
- 11/7/24 - Form 8-K
- 11/7/24 - Form 10-Q
- VFF's page on the SEC website