- Village Farms (TSX:VFF) and Pure Sunfarms have begun shipping their joint venture cannabis products to wholesalers and retailers in Alberta
- The packaged, dried cannabis products should be available to retail customers in Alberta by the beginning of next week
- Through Village Farms, Pure Sunfarms’ products will reach nearly two thirds of Canada’s recreational cannabis market
- Village Farm’s share price is up 0.88 per cent, and is currently trading at C$5.74 per share
Village Farms (TSX:VFF) and joint venture partner Pure Sunfarms have begun shipping their cannabis products to Alberta wholesalers and retailers.
Their large-scale, high-quality cannabis production has resulted in packaged, dried products which should be available in Alberta by next week.
Product shipping recipients include Alberta Gaming, Liquor, & Cannabis (AGLC), the provincial wholesaler of recreational adult use cannabis products. AGLC also operates the only authorised online retailer in Alberta, AlbertaCannabis.org.
Through the joint venture with Village Farms, Pure Sunfarms’ products will be available in Ontario, British Columbia, and Alberta. These are three of the four most populous Canadian provinces, and represent approximately two-thirds of the Canadian recreational cannabis market.
Despite containing only 12 per cent of Canada’s population, Alberta has over 400 cannabis stores, and generated 22 per cent of 2019’s total cannabis sales. As such, Alberta is the second largest provincial market for cannabis products in the country.
Village Farms CEO, Michael DeGiglio, commented on the company’s joint venture. “Pure Sunfarms’ reputation for quality products that customers want at the right price is resonating well with Canadian consumers,” he said.
“2020 promises to be a year of significant growth for retail cannabis sales across Canada. […] With access to nearly two-thirds of the Canadian population and a thriving brand, Pure Sunfarms is well positioned to participate in this market growth based on its leading market share performance,” Michael concluded.
Village Farm’s share price is up 0.88 per cent, and is currently trading at C$5.74 per share at 2:25pm EST.
