Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced its wholly owned subsidiary, Pure Sunfarms, has received EU GMP certification from Bezirksregierung Düsseldorf (District Government of Dusseldorf, Germany) for its 1.1 million square foot Delta 3 cannabis production facility located in Delta, British Columbia. EU GMP certification permits Pure Sunfarms to export EU GMP-certified medical cannabis to importers and distributors in international markets that require EU GMP certification.
“Our ability to now export our cannabis products to the EU and other international markets that require EU GMP certification provides an incremental revenue stream in addition to the strong growth that we continue to expect in Canada in 2022 and beyond,” said Mandesh Dosanjh, President and Chief Executive Officer, Pure Sunfarms. “We look forward to providing the EU high quality, British Columbia-grown medical cannabis flower, beginning in the largest medical cannabis market in the region, Germany, with shipments to that country targeted to begin in the third quarter of this year.”
“Pure Sunfarms’ receipt of EU GMP certification marks another major step forward in Village Farms’ strategy to build a world-class, international cannabis platform,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms. “In addition to the expected near-term growth from this expansion, we believe existing medical markets in the EU, and elsewhere, are a pathway to participating in much larger legal recreational cannabis opportunities as these markets develop.”
Mr. DeGiglio, added, “We also continue to advance our plans for Pure Sunfarms to export cannabis to Israel, with sales anticipated to start there by the end of this year.”
In anticipation of receipt of EU GMP certification for the Delta 3 facility, as well as other growth initiatives and opportunities for 2022, in late 2021 Pure Sunfarms expanded its overall capacity, commencing production in the first half of its second 1.1 million square foot greenhouse facility, Delta 2. In addition, Pure Sunfarms staff previously underwent GMP education and training to align production at Delta 3 with EU GMP standards.
Germany, with a population of more than 83 million, more than 90% of which are covered by public health insurers, is the largest legal medical cannabis market in the EU.
