– Mr. de Gortari Brings More Than 15
Years of Commercial, Finance and Accounting Experience with
Molson Coors
–
VANCOUVER, BC, Aug. 30, 2021 /CNW/ - Village Farms
International, Inc. ("Village Farms" or the "Company") (NASDAQ:
VFF) (TSX: VFF) today announced its recently acquired, wholly owned
subsidiary, Colorado-based Balanced Health Botanicals ("Balanced
Health"), has appointed consumer products and finance
veteran, Alejandro "Alex" de
Gortari, as Chief Financial Officer. Mr. de Gortari
succeeds Brandon Townsley, who has
left Balanced Health to pursue other career interests.
Mr. de Gortari is an accomplished finance and commercial leader,
having served in increasingly senior positions in the US consumer
products and cannabis industries, including more than 15 years with
Molson Coors Brewing Co.
"On the heels of the acquisition of Balanced Health by Village
Farms, I am thrilled to welcome a finance and commercial
professional of Alex's caliber to the Balanced Health team," said
Chase Terwilliger, President and
CEO, Balanced Health Botanicals. "Alex brings nearly two
decades of experience, in both large and small regulated consumer
product sectors to Balanced Health, as we embark on this new
chapter of our growth story as part of the Village Farms
family."
"Alex's extensive experience in consumer products adds to
Balanced Health's formidable senior leadership team," said
Michael DeGiglio, CEO Village
Farms. "We look forward to Alex's contributions as Balanced
Health continues to grow their cannabinoid platform, with future
additional growth opportunities through potential pathways to the
high-THC cannabis market in the US."
Prior to joining Balanced Health, from 2004 to 2020, Mr. de
Gortari held a variety of finance, accounting, sales and related
roles with Molson Coors Brewing Co., including Finance Director,
Latin America South, Finance Senior Manager, Latin America & Caribbean Export;
Commercial, Business Development & Craft, and culminating
in his position as General Manager, Emerging Markets (all with the
Molson Coors International division). Mr. de Gortari was also
Chief Financial Officer at Denver-based BellRock Brands, Inc., a national
cannabis house of brands and intellectual property-focused CPG
company. Mr. de Gortari holds a Bachelor of Science in
Accounting from the Indiana University
Kelley School of Business.
Mr. Terwilliger added, "On behalf of the entire Balanced Health
team, I would like to thank Brandon for his significant
contribution to the growth and success of our company. We
wish him the very best in his future endeavors."
About Balanced Health Botanicals
Balanced Health develops and sells high-quality, CBD-based
health and wellness products. With an overriding focus on quality
and compliance, Balanced Health has established a diverse portfolio
of CBD and other cannabinoid products, including ingestible, edible
and topical applications that are distributed via e-commerce and
brick and mortar retail channels. Its e-commerce platform,
CBDistillery™ (www.theCBDistillery.com), is a top-five US CBD brand
and top-ranked website within the CBD category, with more than
30,000 orders monthly and a significant repeat customer base.
Through its long-term partnerships, Balanced Health has control of
the entire supply chain from seed-to-shelf, seamless sourcing,
manufacturing, and sale of high-quality end products across a wide
variety of forms and uses.
About Village Farms International, Inc.
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, with a strong foundation as a leading fresh produce supplier
to grocery and large-format retailers throughout the US and
Canada, along with new high-growth
opportunities in the cannabis and CBD categories in North America 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 the best-selling brands.
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.
Internationally, Village Farms is targeting selected, nascent,
legal cannabis and CBD opportunities with significant medium- and
long-term potential, with an initial focus on the Asia-Pacific region and Europe.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains forward-looking
statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, (the "Securities Act") and
Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and is subject to the safe harbor
created by those sections. This press release
also contains "forward-looking information" within
the meaning of applicable Canadian securities law. Forward-looking
information can be identified by such terms as "outlook", "may",
"might", "will", "could", "should", "would", "occur", "expect",
"plan", "anticipate", "believe", "intend", "try", "estimate",
"predict", "potential", "continue", "likely", "schedule",
"objectives", or the negative or grammatical variation thereof or
other similar expressions concerning matters that are not
historical facts, although not all forward-looking statements
contain these identifying words. The forward-looking statements in
this press release are subject to risks that may include, but are
not limited to Company's expansion plans, expectations regarding
cannabis and CBD categories in North
America and selected markets internationally, the retail CBD
and high-THC cannabis markets, the legal and regulatory status of
the cannabis and the CBD business; risks relating to obtaining
additional financing, dependence upon credit facilities,
profitability, product pricing, cannabis, hemp and agricultural
businesses, relating to the conversion of our greenhouses to
cannabis the ongoing and developing COVID-19 pandemic and tax
risks. The Company has based these forward-looking statements
on factors and assumptions about future events and financial trends
that it believes may affect its financial condition, results of
operations, business strategy and financial needs. Although the
forward-looking statements contained in this press release are
based upon assumptions that management believes are reasonable
based on information currently available to management, there can
be no assurance that actual results will be consistent with these
forward-looking statements. Forward-looking statements necessarily
involve known and unknown risks and uncertainties, many of which
are beyond the Company's control, that may cause the Company's or
the industry's actual results, performance, achievements, prospects
and opportunities in future periods to differ materially from those
expressed or implied by such forward-looking statements. These
risks and uncertainties include, among other things, the factors
contained in the Company's filings with securities regulators
available on SEDAR and EDGAR. When relying on forward-looking
statements to make decisions, the Company cautions readers not to
place undue reliance on these statements, as forward-looking
statements involve significant risks and uncertainties and should
not be read as guarantees of future results, performance,
achievements, prospects and opportunities. The
forward-looking statements made in this press release relate only
to events or information as of the date on which the statements are
made in this press release. Except as required by law, the Company
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on
which the statements are made or to reflect the occurrence of
unanticipated events.
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SOURCE Village Farms International, Inc.