Village Farms International has regained its compliance with Nasdaq listing standards after reaching the necessary closing bid price of $1 per share. This development allows the cannabis operator to remain listed on the Nasdaq Capital Market under the ticker symbol VFF.
In April 2023, Village Farms was granted an extension to achieve compliance following a warning about its share price. The company had previously faced similar challenges, receiving a low-share-price warning in April 2022. After an initial 180-day period to rectify the situation, Village Farms successfully met the listing requirements in April 2024.
Located in Vancouver, British Columbia, and Lake Mary, Florida, Village Farms is shifting its focus entirely to cannabis operations. Earlier this month, the company announced it would divest its fresh produce segment, Vanguard Food, to concentrate on expanding its cannabis business. This strategic move is expected to increase Village Farms’ presence in international cannabis markets through export sales and operations in the Netherlands, while still maintaining a stake in the produce sector.
By divesting Vanguard, Village Farms aims to capitalize on growth opportunities in the cannabis market, demonstrating a clear pivot towards its core business. As compliance with Nasdaq regulations is crucial for maintaining investor confidence, this recent development is a positive step for Village Farms as it navigates the competitive landscape of the cannabis industry.
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