Pure Sunfarms makes its first CBD oil delivery to British Columbia
The Village Farms joint venture is finally expanding into other Canadian states.
Pure Sunfarms, a JV of Village Farms International Inc (Nasdaq: VFF), began shipping Cannabis 2.0 products and bottled oils to British Columbia. Deliveries to Alberta and Ontario will begin soon. Pure Sunfarms CEO Mandesh Dosanjh said the flower is the basis for all Pure Sunfarms products. The company designed and developed Cannabis 2.0 products, using its growing experience and commitment to deliver high quality products. Developing vapes using signature strains Pure Sunfarms developed and produced its oil and vape products using its naturally grown and distinctive strains. It always selects the right parts of the flower to provide a smooth and safe experience for customers from start to finish. A moderate approach Mandesh said that Pure Sunfarms took a tested and measured approach to its product strategy. As a first step, the company strengthened its presence in the dried flower sector and used its reputation, brand and expertise to jump into the higher-quality and large product categories. Vapes occupy the second largest position in the Ontario cannabis store. Village Farms CEO Michael DeGiglio said Pure Sunfarms retained a leading share of the Ontario market for three consecutive quarters following its branded products in September 2019. Ontario is the largest provincial market in Canada. Pure Sunfarms will maintain the same success strategy for its bottled oils and Cannabis 2.0 products, which are economical and high quality for consumers. Michael said customers will be embracing these products with the same enthusiasm as they have with Pure Sunfarms' dried flower products. Pure Sunfarms' main goal is to be number one or two in every product category the company brings to market. As an economical greenhouse manufacturer, Pure Sunfarms maintains a significant price advantage in the Canadian market. It also strives to maintain high quality products to keep the upper hand against illegal products and improve its share of the legalized market. Village Farms posted revenue up 15% year over year to $ 47.6 million in Q2 2020. Solar-only farms reported a 40% year-over-year revenue decline to $ 14 million in Q2 2020. Village Farms holds a majority stake of 58.7% in Pure Sunfarms.