Village Farms commences build-out of Netherlands cannabis facility

Village Farms International announced it has commenced the build-out of its first indoor cannabis production facility in Drachten, Netherlands. Through its majority-owned subsidiary, Leli Holland, Village Farms holds one of 10 licenses permitting it to legally produce and distribute recreational cannabis in the Netherlands under the Dutch Program. The Company is targeting start of production for the fourth quarter of 2024. Leli Holland plans to sell flower and hash products across consumer-preferred formats, including pre-rolls. Village Farms plans to fund the build-out of the Drachten facility from cash on hand. The Drachten facility, with capacity of up to 2,500 kg of dried flower annually, is the first of two facilities Village Farms has planned to supply the Netherlands legal recreation cannabis market under the Dutch Program. The second, larger facility, to be located in nearby Groningen, has planned capacity of up to 10,000 kg annually with production beginning as early as 2026. “As a limited license market with a long-established consumer base and a cannabis-friendly regulatory environment, the Netherlands represents a very attractive near-term opportunity in our international cannabis strategy,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms. “