Village Farms Expands To The Netherlands, Partners With DutchCanGrow

Greenhouse grower Village Farms International Inc. VFF VFF has purchased a stake in DutchCanGrow Inc. (DCG).

Under the deal, the Vancouver-based company became one of six equal shareholders in The Netherlands-based cannabis company.

According to a Wednesday press release, the seventh shareholder owns 5%.

DCG expects to become one of 10 licensed cannabis growers within the country once the Dutch government allows the first legal recreational cannabis market in Europe. Dutch regulators have allowed a limited number of companies to cultivate cannabis and supply coffee shops in the country legally.

A total of 78 coffee shops in 10 selected cities will be required to get their cannabis from federally licensed producers only, the company said.

In addition, the suppliers are expected to yield around 65,000 kilograms of dried cannabis per year.

"Our investment in DutchCanGrow is a momentous first step in leveraging all that Village Farms has accomplished in Canada to become a leader in the burgeoning international cannabis industry," said Michael DeGiglio, CEO of Village Farms International in a prepared statement.

He further emphasized they are proud DCG decided to partner with Village Farms.

DutchCanGrow's Director Peter Tas has "a vision to become the premier cultivator, developer and producer of premium-quality, legally-grown cannabis in the Netherlands."

Meanwhile, Village Farms has been expanding its footprint in Canada by commencing shipping packaged of dried flower products to Saskatchewan via its joint venture with Emerald Health Therapeutics Inc. EMH EMHTF - Pure Sunfarms.

Courtesy photo