VANCOUVER, Sept. 4, 2019 /CNW/ - PRESS RELEASE - Village Farms International, Inc. has announced that its 50-percent-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has entered into a supply agreement with the British Columbia Liquor Distribution Branch (BCLDB) to supply the BCLDB with Pure Sunfarms-branded cannabis products for the recreational market in the Province of British Columbia.
Pure Sunfarms will begin shipping packaged product to the BCLDB, as well as the Ontario Cannabis Retail Corporation (the OCRC, operating as the Ontario Cannabis Store), with whom it entered into a supply agreement in February 2019, as soon as possible upon receipt of its license amendment permitting sales and distribution directly to provincial/territorial wholesalers and authorized private retailers in accordance with provincial/territorial frameworks in Canada (sometimes referred to as a "packaging license").
Combined, Ontario and British Columbia comprise more than half of Canada's population, with Ontario (Canada's most populated province) and British Columbia (Canada's third most populated province) comprising more than 38 percent and more than 13 percent of Canada's population, respectively). Pure Sunfarms also continues to advance discussions with other provincial distributors for potential supply agreements.
"The announcement of today's supply agreement with the BCLDB represents a major milestone for Pure Sunfarms," said Mandesh Dosanjh, president and chief executive officer of Pure Sunfarms. "We are proudly B.C.-based, cultivating cannabis to the highest standards by the most experienced growers in the industry, and look forward to having Pure Sunfarms product available in our home province."
"Pure Sunfarms is already one of Canada's largest cannabis producers, with an outstanding reputation for quality, consistency, safety and reliability," said Michael DeGiglio, CEO of Village Farms International. "This supply agreement for Canada's third most populous province will significantly expand Pure Sunfarms' market reach when it begins sales directly to provincial and territorial wholesalers, taking the next step in establishing Pure Sunfarms as a premiere national brand with Canadian cannabis consumers."
