Village Farms makes first cannabis export with shipment to Australia

Company subsidiary Pure Sunfarms shipped dried cannabis flower to Altum International Pty Ltd., where Village Farms holds a minority interest.

Village Farms announced that the export was made for the Australian medical cannabis market. Roman Barkov/Getty Images

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Canadian company Village Farms International, Inc. has completed its first export of cannabis.

The shipment was made to Australia through its subsidiary Pure Sunfarms.

The export consists of high-THC dried flower for the Australian medical cannabis market.

Village Farms is based in Delta, a suburb of Vancouver.

The company stated in a media release Wednesday (September 29) that the cannabis shipment was made to Australian company Altum International Pty Ltd. or Altum.

Village Farms is a minority investor in Altum.

The cannabis products will be sold under Altum’s brand Kind Medical.

Village Farms CEO Michael DeGiglio described the export as an “important milestone”.

“For Pure Sunfarms, exportation of their leading cannabis products represents a significant long-term opportunity to leverage their scale and position as the top-selling dried flower brand in three of Canada’s largest provincial markets for opportunities beyond the Canadian market,” DeGiglio said.

The media release recalled that the Australian federal government legalized medical cannabis in 2016.

Pure Sunfarms president and CEO Mandesh Dosanjh said that his company is confident that its cannabis products will be “favourably received” by medical cannabis patients in Australia.

In the same release, Village Farms announced that the certifying body of the European Union Good Manufacturing Practices has completed its inspection of Pure Sunfarms’ cannabis production and processing facility in Delta.

A certification before the end of this year could mean that Pure Sunfarms may start shipping to the EU in the first quarter of 2022.

Village Farms trades in the Toronto Stock Exchange the ticker symbol VFF.

As of this post, the company’s shares are trading at $10.48 each.

Follow Carlito Pablo on Twitter @carlitopablo

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