$60m for stake in Canadian CBD maker

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British Columbia (BC), Canada-based Village Farms International (OTC) bought a 41% interest in Pure Sunfarms, also of BC, a maker of CBD and marijuana products, from Emerald Health Therapeutics for $45 million (~€38 million) in cash, issuing a promissory note for an additional $15 million (~€13 million) when the deal closes. Village Farms is a 30-year-old company whose main business is in produce, but it also grows hemp in the USA. Emerald Health, Vancouver, a “wellness-oriented cannabis” company which is traded OTC on the Toronto Stock Exchange’s Venture Exchange, said it made the sale to “shift away from large-scale, high volume, asset-intense cultivation.”

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