In a press release sent out on Nov. 26, Village Farms International said it has become the majority owner in Pure Sunfarms, the cannabis operation it co-operates with Emerald Health Therapeutics. Earlier in November, Emerald Health failed to pay $5,940,000 to Pure Sunfarms, causing Village Farms to make an additional payment and take majority ownership.
According to the release, Pure Sunfarms’ management says that the equity has been “properly credited” to Village Farms’ share capital. The change in ownership is reflective to Nov. 19, 2019.
Pure Sunfarms is a greenhouse-grown cannabis operation located in Delta, British Columbia. It is a vertically integrated supplier of large-scale, high-quality cannabis to the Canadian market and produces more than 75,000 kilograms of dried flower annually.