Village Farms ‘applauds’ move toward U.S. marijuana rescheduling

Village Farms International applauds the U.S. Department of Justice’s historic decision to pursue federal rescheduling of marijuana for medical purposes to Schedule III from Schedule I under the Controlled Substances Act. The Rescheduling Proposal starts a 60-day period for public comment. “We are encouraged by this continued regulatory progress and are actively evaluating multiple parallel strategies that may enable Village Farms to enter the legal U.S. marijuana market. All options are expected to leverage our unmatched cannabis success in Canada, using our advantage as one of the largest and highest quality greenhouse cannabis operations in the world. We will continue to monitor regulatory and other developments that may result from the proposed rescheduling and look forward to determining the right path forward for the Company and our shareholders to fully capitalize on the U.S. marijuana opportunity,” said Michael DeGiglio, President and CEO.