Village Farms International announced they are acquiring all of the outstanding shares of cannabis producer Pure Sunfarms. Vancouver, British Columbia-based Village Farms, which controls 58.3% of Pure Sunfarms, reached a financial agreement to buy the remaining stake from Emerald Health Therapeutics. Also, Village Farms agreed to finance the 79.9 million Canadian dollars ($61 million) transaction with CA$60 million in cash and a promissory note worth CA$19.9 million. Village Farms and Emerald Health Therapeutics settled a dispute involving Pure Sunfarms earlier in 2020. Industry insiders believe the deal could mark a turning point for mergers and acquisitions in the cannabis space, which slowed considerably so far this year. According to Viridian Cannabis Deal Tracker, completed M&A transactions year-to-date have fallen 85% compared to the same period in 2019.
Marijuana Business Daily, 09/09/2020 13:20:26
Open article: https://mjbizdaily.com/village-farms-buying-balance-of-pure-sunfarms-as-cannabis-ma-improving/