# EDGAR Filing Document

**Accession Number:** 0001584549
**File Stem:** 0000950170-23-004642
**Filing Date:** 2023-2
**Character Count:** 15383
**Document Hash:** 89da276c4a16e78b87faf767617cf07b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-004642.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0000950170-23-004642

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230227

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Village Farms International, Inc.
- **CENTRAL INDEX KEY:** 0001584549
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE PRODUCTION - CROPS [0100]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** Z4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38783
- **FILM NUMBER:** 23674756

**BUSINESS ADDRESS:**
- **STREET 1:** 4700 - 80TH STREET
- **CITY:** DELTA, BRITISH COLUMBIA
- **STATE:** Z4
- **ZIP:** V4K 3N3
- **BUSINESS PHONE:** 732-676-3008

**MAIL ADDRESS:**
- **STREET 1:** 4700 - 80TH STREET
- **CITY:** DELTA, BRITISH COLUMBIA
- **STATE:** Z4
- **ZIP:** V4K 3N3

?xml version="1.0" encoding="ASCII"? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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**FORM** 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** February 27, 2023<br>

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VILLAGE FARMS INTERNATIONAL, INC.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Ontario | 001-38783 | Not applicable |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 4700-80th Street<br>British Columbia Canada |  |  |
| Delta**,** British Columbia**,** Canada |  | V4K 3N3 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** (604) 940-6012<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Shares, without par value | VFF | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01 Regulation FD Disclosure.**

On February 27, 2023, Village Farms International, Inc. (the "Company") issued a press release (the "Press Release") announcing the appointment of Kathy Mahoney as an independent member of its Board of Directors, effective March 10, 2023. A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained in this Current Report on Form 8-K under Item 7.01, including the attached Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information contained in this Current Report on Form 8-K under Item 7.01, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.**

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| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| 99.1 | [<u>Press Release dated February 27, 2023</u>](vff-ex99_1.htm). |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | **Village Farms International, Inc.** |
| Date: | February 27, 2023 | By:  | /s/ Stephen C. Ruffini |
|  |  |  | Stephen C. Ruffini<br>Executive Vice President and Chief Financial Officer |

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## Ex-99

![img264507375_0.jpg](img264507375_0.jpg)

**Exhibit 99.1**

**FOR IMMEDIATE RELEASE**

**Village Farms International Appoints Consumer Goods Distribution Veteran Kathy Mahoney to Board of Directors**

**Vancouver, BC, February 27, 2023 –** Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) today announced the appointment of Kathy Mahoney as an independent member of its Board of Directors, effective March 10, 2023. Ms. Mahoney is a veteran of the consumer goods distribution industry, having served in multiple executive level roles with industry leader, SpartanNash, in addition to her distinguished legal career.

"I am very pleased to welcome Ms. Mahoney, with her extensive accomplishments and expertise, to the Village Farms Board," said John McLernon, Chairman of the Board of Village Farms. "Ms. Mahoney brings to the Village Farms Board a 40-plus year legal and business career, with specific experience navigating the complexities of highly regulated consumer products markets, including tobacco and CBD. Her guidance and counsel will be invaluable as Village Farms continues to pursue high growth plant-based consumer product opportunities, with a focus on emerging legal cannabinoid markets, in North America & around the world."

Most recently, Ms. Mahoney served for more than 15 years in executive level operational and legal positions with SpartanNash Company (Nasdaq: SPTN), a Fortune400 grocery and consumer goods distributor, wholesaler and retailer, and its predecessor Nash Finch Company. From 2017 to 2020, Ms. Mahoney served as President of SpartanNash division, MDV (now SpartanNash Military), which, at approximately $2 billion in revenue is the largest supplier to U.S. military commissaries and exchanges and recognized as one of the premier worldwide distributors. As President, MDV, she was responsible for the division's strategy, financial and operational performance, as well as development of the military private label program, which was awarded the exclusive contract to supply the Defense Commissary Agency. She was also responsible for negotiating the distribution of tobacco and related products, across a large retailers' 18,000-plus store network, which involved navigating the regulatory landscapes of hundreds of taxing jurisdictions, as well as distribution of CBD products to SpartanNash's wholesale customers and its own retail stores. Ms. Mahoney also served with SpartanNash in several other executive and legal capacities, culminating in her role as Executive Vice President and Chief Legal Officer, as well as twice serving as the Interim Chief Human Resources Officer during transitions in human resources leadership. She also served as a member of the Board of Managers of SpartanNash's joint venture, Fresh City Market LLC from its inception in 2013 until 2021.

Prior to her tenure with SpartanNash, Ms. Mahoney practiced law for more than 20 years, including as Managing Partner at Larson King, LLP, and Partner at Oppenheimer Wolff & Donnelly. Ms. Mahoney began practicing law as Special Assistant Attorney General with the Minnesota Attorney General's Office.

Ms. Mahoney has received grocery industry recognition throughout her career, having been named one of the 100 Most Influential Women in Michigan by Crain's (2016), a Woman of Influence in the Food Industry by the Griffin Report (2018), a Top Woman in Grocery byProgressive Grocer (2012 and 2019), and a Women in Business Industry Leader by the Minneapolis St. Paul Business Journal (2011).

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Ms. Mahoney is a former member of the National Association of Corporate Directors, and a former member of the Grand Rapids, MI Chamber of Commerce Governance Committee and the Policy Committee and has more than 25 years of nonprofit board service, including serving in the role of Chair. She holds a JD, cum laude, from Syracuse University School of Law.

**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 opportunities, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, and 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 Canada's best-selling brands. The Company also owns 70% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec.

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**

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not limited to: our limited operating history in the cannabis and cannabinoids industry, including that of Pure Sunfarms, Inc. ("Pure Sunfarms"), Rose LifeScience Inc. ("Rose" or "Rose LifeScience"), Balanced Health Botanicals, LLC ("Balanced Health") and our operations of growing hemp in the United States; the legal status of the cannabis business of Pure Sunfarms and Rose and the hemp business of Balanced Health; risks relating to the integration of Balanced Health and Rose into our consolidated business; risks relating to obtaining additional financing, including our dependence upon credit facilities; potential difficulties in achieving and/or maintaining profitability; variability of product pricing; risks inherent in the cannabis, hemp, CBD, cannabinoids, and agricultural businesses; market position; ability to leverage current business relationships for future business involving hemp and cannabinoids; the ability of Pure Sunfarms and Rose to cultivate and distribute cannabis in Canada; existing and new governmental regulations, including risks related to regulatory compliance and regarding obtaining and maintaining licenses; legal and operational risks relating to expected conversion of our greenhouses to cannabis production in Canada and in the United States; risks related to rules and regulations at the US federal (Food and Drug Administration and United States Department of Agriculture), state and municipal rules and regulations with respect to produce and hemp, cannabidiol-based products commercialization; retail consolidation, technological advances and other forms of competition; transportation disruptions; product liability and other potential litigation; retention of key executives; labor issues; uninsured and underinsured losses; vulnerability to rising energy costs; inflationary effects on costs of cultivation and transportation; recessionary effects on demand of our products; environmental, health and safety risks, foreign exchange exposure, risks associated with cross-border trade; difficulties in managing our growth; restrictive covenants under our credit facilities; natural catastrophes; 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, which 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, including this press release. In particular, we caution you that our forward-looking statements are subject to the ongoing and developing circumstances related to the COVID-19 pandemic, which may have a material adverse effect on our business, operations and future financial results.

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.

**Contact Information**

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Lawrence ChamberlainInvestor RelationsLodeRock Advisors(416) 519-4196<u>lawrence.chamberlain@loderockadvisors.com</u>

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