Village Farms raises $25 million
Village Farms, the produce grower that also grows cannabis under the Pure Sunfarms banner, has raised $25 million.
The capital was raised through the sale of shares and warrants with a combined price of $1.35 per share. The proceeds from this offering are intended to be used for working purposes, according to the company press release.
While the cannabis side of Village Farms has been performing well with sales either increasing or staying steadily unchanged, the same can't be said for the produce side.
In their last report, Village Farms CEO Michael DeGigilo said: "Our Fresh Produce business continues to be impacted by a number of significant
FreshPlaza is one of the world's most well-known global media platforms for the fresh fruits and vegetables industry, providing its readers with the latest market developments and trends. The team of writers and editors source news from all over the world, and a daily newsletter is sent out with dedicated issues for North America, Latin America, Europe, Asia, Oceania, and Africa.
FreshPlaza is by nature an interactive concept that relies on the participation of its readers, where readers are encouraged to use the platform for publishing free press releases (500 words or less) and job advertisements.