Village Farms International, Inc. (VFF), Monday announced favorable amendments to Fresh Produce loan agreement with Farm Credit Canada, resulting in improved terms, and greater financial flexibility.
The company stated that these changes reflect considerable expansion and growth of Village Farms' business as well a recognition of the company's stronger strategic focus on its growing cannabis business.
Notably, the FCC Loan carries a variable interest rate below 8.0 percent and matures on May 3, 2027. Meanwhile, other terms of the loan agreement remain unchanged.
On Friday, Village Farms' stock closed at $0.50, down 1.24 percent on the Nasdaq.
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