A cannabis stock that has been flying under the radar to some extent, but making big moves at the same time, is Village Farms International Inc (OTCMKTS:VFFIF). As a case in point, the company just announced that it has facilitated the approval by both the U.S. Environmental Protection Agency (EPA) of a novel new crop protectant, Pepino mosaic virus, strain CH2, isolate 1906, which the Company facilitated on behalf of its Belgium-based developer, De Ceuster Meststoffen NV (DCM). Shares have ripped higher in response.
According to the release, “The new innoculant, branded PMV-01®, is a mild form of the Pepino mosaic tomato plant virus (PepMV) and protects greenhouse tomatoes against aggressive forms of that same plant virus through cross-protection, which is a plant defense mechanism against viral infections.”
Village Farms International Inc (OTCMKTS:VFFIF) promulgates itself as a company that, together with its subsidiaries, produces, markets, and distributes greenhouse-grown tomatoes, bell peppers, and cucumbers in North America.
The company operates in two segments, Produce Business and Energy Business. It also owns and operates a 7.0 megawatt power plant from landfill gas that generates and sells electricity to British Columbia Hydro and Power Authority.
Village Farms International, Inc. markets and distributes its products under the Village Farms brand name to retail supermarkets and fresh food distribution companies, as well as produced under exclusive arrangements with other greenhouse producers.
The company was formerly known as Village Farms Canada Inc. and changed its name to Village Farms International, Inc. in December 2009. Village Farms International, Inc. was founded in 1989 and is headquartered in Delta, Canada.
According to company materials, “Village Farms International, Inc. is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada. Village Farms produces and distributes fresh, premium-quality produce with consistency 365-days a year to national grocers in the U.S. and Canada from more than nine million square feet of Controlled Environment Agriculture (CEA) greenhouses in British Columbia and Texas, as well as from its partner greenhouses in British Columbia, Ontario, and Mexico. The Company is now leveraging its 30 years of experience as a vertically integrated grower for the rapidly emerging global cannabis opportunity through a 50% ownership of British Columbia-based Pure Sunfarms, Corp., one of the single largest cannabis growing operations in the world.”
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As noted above, the VFFIF just announced that it has facilitated the approval by both the U.S. Environmental Protection Agency (EPA) of a novel new crop protectant, Pepino mosaic virus, strain CH2, isolate 1906, which the Company facilitated on behalf of its Belgium-based developer, De Ceuster Meststoffen NV (DCM).
We’ve witnessed 10% added to share values of the company over the past week of action. In addition, the company has seen interest climb, with an increase in recent trading volume of exceeding 190% above the average volume levels in play in this stock over the longer term.
“For nearly two decades, Village Farms has been the North American leader in facilitating the registration of new, better and safer pesticides to meet the unique needs of greenhouse vegetable crop protection, vastly improving the yield and quality not only of our own crops but also those of the entire hydroponic vegetable greenhouse industry,” said Michael DeGiglio, CEO, Village Farms. “We are immensely proud to have led the charge in facilitating well more than 150 greenhouse crop protectant approvals, including virtually every greenhouse crop protectant registered in the U.S.”
Earning a current market cap value of $272.7M, VFFIF has a significant war chest ($17M) of cash on the books, which must be weighed relative to about $36.7M in total current liabilities. One should also note that debt has been growing over recent quarters. VFFIF is pulling in trailing 12-month revenues of $194.5M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -11.3%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $VFFIF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $VFFIF, either long or short, and we have not been compensated for this article.