SNDL Inc. Maintains 10.9% Stake in Village Farms Intl.

TL;DR

**SNDL still owns 10.9% of Village Farms, signaling continued strategic interest.**

AI Summary

SNDL Inc. (formerly Sundial Growers Inc.), a Canadian cannabis company, filed an amended SC 13G/A on January 31, 2024, disclosing its ownership in Village Farms International, Inc. As of December 31, 2023, SNDL Inc. beneficially owned 10,000,000 common shares of Village Farms, representing 10.9% of the company's outstanding shares. This matters to investors because SNDL Inc. remains a significant shareholder, indicating continued strategic interest or a long-term investment in Village Farms, which could influence future corporate actions or market perception.

Why It Matters

SNDL Inc.'s continued significant ownership in Village Farms International suggests a strategic alliance or a belief in the long-term value of Village Farms, potentially influencing future business decisions or M&A activity.

Risk Assessment

Risk Level: low — This filing is an amendment confirming a significant, but not new, ownership stake, posing minimal immediate risk to investors.

Analyst Insight

Investors should note SNDL Inc.'s continued significant stake in Village Farms International, as it could signal a potential long-term strategic relationship or influence future corporate governance, but this filing itself doesn't suggest immediate action.

Key Numbers

• 10,000,000 — Common Shares (Number of Village Farms International shares beneficially owned by SNDL Inc. as of December 31, 2023.)
• 10.9% — Ownership Percentage (SNDL Inc.'s beneficial ownership percentage of Village Farms International's common shares.)

Key Players & Entities

• SNDL Inc. (company) — reporting person and beneficial owner
• Village Farms International, Inc. (company) — subject company (issuer)
• 10,000,000 (dollar_amount) — number of common shares beneficially owned by SNDL Inc.
• 10.9% (dollar_amount) — percentage of Village Farms International's common shares owned by SNDL Inc.
• December 31, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• SNDL Inc. will maintain its significant stake in Village Farms International for the foreseeable future. (SNDL Inc.) — medium confidence, target: 2025-12-31
• Village Farms International's stock price will experience minor fluctuations due to this filing, as it confirms existing ownership rather than announcing a new major transaction. (Village Farms International, Inc.) — high confidence, target: 2024-02-29

FAQ

Filing Documents

• ss2964276_sc13ga-village.htm (SC 13G/A) — 33KB
• 0000947871-24-000086.txt ( ) — 35KB

(a). Name of Issuer

Item 1(a). Name of Issuer Village Farms International, Inc. (the “Issuer”)

(b). Address of Issuer’s Principal Executive Offices

Item 1(b). Address of Issuer’s Principal Executive Offices 4700-80 th Street Delta, British Columbia Canada V4K 3N3

(a). Name of Person Filing

Item 2(a). Name of Person Filing SNDL Inc.

(b). Address of Principal Business Office or, if none, Residence

Item 2(b). Address of Principal Business Office or, if none, Residence #300, 919 - 11 Avenue SW Calgary, Alberta Canada T2R1P3

(c). Citizenship

Item 2(c). Citizenship See Row 4 of the cover page.

(d). Title of Class of Securities

Item 2(d). Title of Class of Securities Common Shares, no par value (the “Shares”)

(e). CUSIP Number

Item 2(e). CUSIP Number 92707Y108 Item 3. Not applicable.

Ownership

Item 4. Ownership The aggregate number and percentage of Shares that are beneficially owned by SNDL Inc. are set forth in rows 9 and 11 of the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. The number of Shares as to which SNDL Inc. has sole voting power, shared voting power, sole dispositive power and shared dispositive power is set forth in rows 5, 6, 7 and 8, respectively, on the second part of the cover page to this Schedule 13G, and such information is incorporated herein by reference. Neither the filing of this Schedule 13G nor the information contained herein shall be deemed to constitute an affirmation by SNDL Inc. that it is the beneficial owner of the Shares referred to herein for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose, and such beneficial ownership is expressly disclaimed.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following .

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certifications

Item 10. Certifications By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 31, 2024 SNDL Inc. By: /s/ Matthew Husson Name: Matthew Husson Title: General Counsel & Corporate Secretary

View Full Filing

View this SC 13G/A filing on SEC EDGAR