VFF - Village Farms broadens international reach with cannabis shipments to Israel

Village Farms International ( NASDAQ: VFF ) took another step forward on Monday with its international cannabis strategy by beginning cannabis shipments to Israel.

VFF'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., which is doing business as Better Pharma.

VFF noted that its 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.  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).

The company also commented that the lack of cannabis legislative action by the United States Senate, while disappointing, does not impact Village Farms' ( VFF ) plans to leverage its considerable success in Canada into other cannabis markets with greater regulatory support. Village Farms ( VFF ) said it 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.

Shares of VFF fell 1.49% in premarket trading to $1.32 vs. the 52-week trading range of $1.21 to $7.22.

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