In a press release, Village Farms International announced that following the Texas House of Representatives concurring with the Senate amendments, House Bill 1325 will become law in Texas, subject to the June 16, 2019 deadline for the Governor to veto bills – a highly unlikely proposition for a bill that passed both the House of Representatives and Senate unanimously.
As a result of this legislative change, Village Farms has begun conversion of half of its 1.3-million-square foot, ultra-high-tech Permian Basin greenhouse for both cultivation of high-cannabidiol (CBD) hemp and CBD extraction. The Texas Hemp Legislation will require licenses for both the cultivation and processing of hemp. Village Farms plans to apply for the requisite licenses as soon as it is permitted to do under the new legislation. No time frame has yet been provided by the State of Texas for the licensing process.