Village Farms Enters Material Definitive Agreement

TL;DR

VFF signed a big deal, details TBD.

AI Summary

Village Farms International, Inc. announced on May 29, 2024, that it has entered into a material definitive agreement. The filing does not disclose specific details of the agreement, such as the counterparty or financial terms, but indicates it is a significant event requiring immediate disclosure.

Why It Matters

This filing signals a significant business development for Village Farms International, Inc., potentially impacting its future operations, financial performance, and stock value.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and implications of the material definitive agreement.

Key Players & Entities

• Village Farms International, Inc. (company) — Registrant
• May 29, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $4.1 million — l cash purchase price of approximately C$4.1 million. After giving effect of the Acquisition

Filing Documents

• vff-20240529.htm (8-K) — 40KB
• vff-ex99_1.htm (EX-99.1) — 25KB
• img264507375_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-066709.txt ( ) — 198KB
• vff-20240529.xsd (EX-101.SCH) — 25KB
• vff-20240529_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On May 29, 2024, Village Farms International, Inc. ("Village Farms" or the "Company") entered into a Share Purchase Agreement (the "Purchase Agreement"), dated as of May 29, 2024, by and among Village Farms, ROSE LifeScience Inc. ("ROSE") and other parties thereto, including the members of ROSE (collectively, the "Sellers"), which provided for the acquisition of an additional 10% interest in ROSE, in which the Company previously had a 70% ownership interest, pursuant to the terms of the Purchase Agreement (the "Acquisition"), at a total cash purchase price of approximately C$4.1 million. After giving effect of the Acquisition, the Company's ownership interest in ROSE has increased to 80%.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On May 30, 2024, the Company issued a press release announcing the Acquisition. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference. The information contained in this Current Report on Form 8-K under Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. The information contained in this Current Report on Form 8-K under Item 7.01, including Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Number Description 99.1 Press Release dated May 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Village Farms International, Inc. Date: May 30, 2024 By: /s/ Stephen C. Ruffini Name: Stephen C. Ruffini Title: Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR