VFF Village Farms International Inc

Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) and Hemp for Victory (collectively, “The Parties”), today announced that they have filed a joint motion which seeks the immediate disqualification and removal of the Drug Enforcement Administration (“DEA” or the “Agency”) from defending the Proposed Role to reschedule marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act (“CSA”).

The Parties also moved to replace the DEA with the Department of Justice (“DOJ”) as proponent of the Proposed Rule and order that the record include all requests for hearing and/or participation in these proceedings filed with the DEA; a record of the decisions made by the Administrator regarding why certain parties were designated as participants and others were not; and any ex parte communications between DEA and third parties. Finally, Village Farms and Hemp for Victory requested that Smart Approaches to Marijuana (“SAM”) and the DEA be ordered to preserve their records, as factual evidence demonstrates unlawful conduct which has further compromised the DEA’s participation in the proceedings.

Shane Pennington, partner at Porter Wright Morris & Arthur, LLP and counsel to Village Farms and Hemp for Victory commented, “It is our belief that the DEA cannot lawfully act as the proponent of the Proposed Rule and that its actions throughout the administrative process demonstrate that it opposes the proposed transfer of marijuana to Schedule III and is therefore compromised. Treating the DEA as the proponent of the Proposed Rule would violate APA and DEA regulations and render these proceedings a sham. Lawyers from the Department of Justice, not the Drug Enforcement Administration, must therefore defend this rule.”

Robert Head, retired Army infantryman and Board Chair of Hemp for Victory added, “A majority of American citizens continue to overwhelmingly support having better access to alternative medicines like cannabis in their pursuit of health and wellness. However, the wellbeing of military veterans in particular continues to be ignored despite significant evidence that cannabis is a beneficial tool that can help veterans manage the mental and physical challenges that have resulted from their service without dependency on opioids. This rescheduling process needs to pave the way for a healthier road ahead, a road that cannot continue to be blocked by the deep entrenchment of bureaucracy in our administrative processes.”

Michael DeGiglio, retired Navy captain and naval aviator and President and Chief Executive Officer of Village Farms concluded, “Our organization embraces the power of the cannabis plant as an alternative to Big Pharma and harmful, addicting drugs like opioids. However, we continue to face burdensome challenges in several of our regulatory jurisdictions that not only restrict us from advancing access to cannabis for millions of people, but have also created near-insurmountable institutional barriers to clinical research involving cannabis. We are proud to be one of the pro-cannabis participants selected to testify as a witness in the upcoming Rescheduling Hearing, but the filing of this joint motion reflects our desire for a more transparent process that ensures all credible voices are heard, including other applicants whose expertise has been overlooked or ignored.”

A complete copy of The Parties’ joint motion filed on November 18, 2024 is accessible in the FAQ section of Village Farms’ website at www.villagefarms.com/investors-faq.

About Hemp for Victory

Hemp for Victory is a non-profit dedicated to educating the public about why veterans are using cannabis over pills. Today, its Board of Directors has grown to almost half a dozen leaders with military, medical, and academic backgrounds. Hemp for Victory is on a mission to educate and bring awareness to the natural solution of cannabis as a way for veterans to manage mental and physical challenges as a result of their service. For more information, please visit www.hemp4victory.info.

About Village Farms International

Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods. The Company has a strong foundation as the leading and longest-tenured leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada and is capitalizing on new high-growth opportunities in the cannabis and CBD categories in North America, the Netherlands and selected markets internationally.

In Canada, the Company's wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of Canada’s best-selling brands. The Company also owns 80% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec.

Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential. The Company exports medical cannabis from its EU GMP certified facility in Canada to a growing list of international markets including Germany, the United Kingdom, Israel, and Australia. The Company is expanding its international presence with additional export contracts to new countries and customers in the Asia-Pacific and European regions, as well as select strategic investments in operating assets. In Europe, wholly-owned Leli Holland has one of 10 licences to grow and distribute recreational cannabis products.

In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms' cannabis success in Canada.

Village Farms Clean Energy (VFCE), through a partnership with Atlanta-based Terreva Renewables, creates clean energy from landfill gas at its Delta RNG facility. VFCE receives royalties on all revenue generated. This partnership reduces Vancouver’s greenhouse gas emissions by 475,000 metric tons of CO2 per year, equivalent to removing more than 100,000 vehicles off the road or the energy use equivalent of powering 51,300 homes for one year.

Contact Information

Sam GibbonsSenior Vice President, Corporate AffairsVillage Farms InternationalPhone: (407) 936-1190 ext. 328Email: sgibbons@villagefarms.comRobert Head   Board ChairHemp for VictoryEmail: robert@bluecordfarms.com