Village Fields Hemp

FOR IMMEDIATE RELEASE Village Farms International Partners with Pioneer Hemp-Farm Operator for Multi-State Outdoor Hemp Cultivation and CBD Extraction – Joint Venture with One of the Foremost Experts on Field Hemp Cultivation Significantly Advances Village Farms’ Vertically Integrated CBD Strategy – Vancouver, BC, March 1, 2019 – Village Farms International, Inc. (“Village Farms” or the “Company”) (TSX:VFF; NASDAQ:VFF) today announced that it has entered into an agreement with Nature Crisp LLC (“Nature Crisp”) to form a joint venture for the outdoor cultivation of high cannabidiol (CBD) hemp and CBD extraction in multiple states throughout the United States (the “Joint Venture Agreement”). 

The joint venture, Village Fields Hemp (“Village Fields”), will be 65% owned by Village Farms and 35% owned by Nature Crisp. Nature Crisp is a private, Georgia based farming operation and part of the Jennings agricultural group of companies (the “Jennings Group”), which grows a diverse range of food and other crops, including hemp, on more than 6,000 acres in the U.S. and Canada. “Jennings Group is a pioneer in hemp cultivation and this joint venture establishes a new powerhouse in hemp cultivation that significantly advances Village Farms’ vertically integrated CBD strategy,” said Michael DeGiglio, Chief Executive Officer, Village Farms.

 “As 10th generation farmer since Gideon (Zanini) Jennings immigrated to South Carolina in 1736, Jennings Group brings deep knowledge in large-scale field agriculture across a vast array of crops, with a proven track record of genetic optimization and innovation. Over the past several years, they have rapidly become a leading authority on hemp cultivation, renowned for their understanding of the plant and their success applying their cultural and genetic expertise to meaningfully improve CBD content and yield. Moreover, the Jennings Group team brings extensive relationships with the farming community across the U.S., as well as with geneticists, academics and researchers, that will be invaluable to the success of this new business.”