Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced further progress on its international cannabis strategy, and commented that the lack of cannabis legislative action by the United States Senate (in direct contrast to the 39 States / the District of Columbia with legally sanctioned medical-use and/or adult-use THC, as well as the vast majority of United States’citizens) while disappointing, does not impact Village Farms’ plans to leverage its considerable success in Canada into other cannabis markets with greater regulatory support. Recently, the Company’s Canadian Cannabis business, through its subsidiary, Pure Sunfarms, commenced shipping cannabis products for the Israeli medical market under an exclusive three-year supply agreement with Israel-based Dr. Samuelov Importing and Marketing Ltd., doing business as Better Pharma.
Founded in the early 1990s, Better Pharma is a highly respected importer of pharmaceuticals and related products for the Israeli market with longstanding relationships with Israel’s retail pharmacies and an extensive sales force and distribution capabilities, covering over 95% of Israeli independent pharmacies, as well as retail drug stores.
“Commencing shipments to Israel is another milestone in our global cannabis strategy, building on our successes in Canada and Australia,” said Michael DeGiglio, Chief Executive Officer, Village Farms. “We are proud and privileged to partner exclusively with Better Pharma for the significant medical cannabis opportunity in Israel and are confident that Pure Sunfarms unique “Everyday Premium” positioning, which has proven so successful in Canada and Australia, will be differentiated in the Israeli market, and well-received by patients.”
“Our agreement with Better Pharma marks the first time Pure Sunfarms branded flower, inclusive of Canada’s top-selling Pink Kush, makes its way to consumers internationally,” said Mandesh Dosanjh, President and CEO, Pure Sunfarms. “We’re confident that Better Pharma, an organization that shares our belief in a brand-led consumer approach, will help patients in Israel come to know and appreciate Pure Sunfarms high-quality, BC grown strains as much as Canadians have.”
“We are proud and honoured to exclusively partner with Pure Sunfarms, Canada’s No.1 flower brand and market leader, for medical cannabis products,” said Ran Samuelov, Chief Executive Officer, Better Pharma. “We are confident we will be able to leverage our knowledge and expertise in international brand management for Pure Sunfarms to become one of the leading medical cannabis brands in Israel. We are looking forward to delivering Pure Sunfarms unique and differentiated “Everyday Premium” brand proposition to Israeli medical patients and pharmacists.”
Sales of Pure Sunfarms product to patients in Israel are expected to commence later this month. Initial strains offered will include Pink Kush, Jet Fuel Gelato, and Sakura Punch (sold as Black Cherry Punch in Canada).
Village Farms continues to execute on its global cannabis strategy, which includes accelerated sales to the Australian medical market and plans to launch in the German medical market.
