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[posting]56711613[/posting]"Village Farms International Inc. has completed its previously announced bought deal short form prospectus offering of 2.5 million common shares in the capital of the company at an issue price of $5.40 per common share for aggregate gross proceeds of $13.5-million. The offering was conducted by a syndicate of underwriters led by Beacon Securities Ltd. and including Echelon Wealth Partners Inc. The net proceeds from the offering will be used to repay a portion of the company's term loan with a Canadian creditor, which will permit the company to remove its 1.1-million-square-foot Delta 2 greenhouse facility as collateral against such term loan and for general corporate and working capital purposes. It is a requirement of the company's joint venture (Pure Sunfarms Corp.) agreement for the production of cannabis that, should the option on the Delta 2 greenhouse be exercised by Pure Sunfarms, the Delta 2 greenhouse be contributed to Pure Sunfarms on an unencumbered basis. "We are proud to successfully complete this strategic financing -- our first equity offering in our 11-year history on the Toronto Stock Exchange -- which positions our second 1.1-million-square-foot greenhouse, Delta 2, for immediate contribution to Pure Sunfarms, should it exercise its option on the facility," said Michael DeGiglio, chief executive officer of Village Farms International. "Converting existing, large-scale state-of-the-art greenhouse facilities with well-established operations and deeply experienced growers is a capital-efficient approach to cannabis production and firmly positions Pure Sunfarms to be the low-cost producer in Canada. "With this financing complete, we look forward to a very busy and very productive 2018 as Pure Sunfarms anticipates starting commercial cannabis production at the initial 1.1-million-square-foot Delta 3 greenhouse in the spring of 2018 and beginning cannabis sales on or before July 1." https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aVFF-2549… |
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| aus der Diskussion: | Village Farms International (From Tomatoes To Cannabis) |
| Autor (Datum des Eintrages): | phobieeee (14.01.18 19:36:38) |
| Beitrag: | 2 von 2,683 (ID:56713203) |
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