A single of the most exciting marijuana stocks to watch in the cannabis space is Village Farms International (TSX:VFF) (NASDAQ:VFF). This marijuana stock made use of when upon a time was increasing vegetables in greenhouses but in 2017, they decided to get into the cannabis organization. This pot stock created its way by setting up Pure Sunfarms, a joint venture with Emerald Well being Therapeutics. According to the terms of the joint venture, the enterprise sold its greenhouses to Pure Sunfarms, whilst Emerald was place in charge of cannabis production as properly as the financing responsibilities. Though that was an superb deal in itself, it is also essential to point out that this marijuana stock enterprise has created fast progress more than the course of the previous two years.
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In April of this year, Pure Sunfarms purchased a further production facility, from Village Farms, that stretches across an region of 1.1 million square feet. At the moment, it has two facilities and when at complete tilt, Pure Sunfarms will have 150,000 kilos of cannabis in total from each setups. Despite the fact that it is nonetheless an impressive haul on a yearly basis, it requires to be mentioned that the make from two.two million square feet of increasing space, will take some operate to compete with rivals.
That becoming mentioned, there have been other essential developments with regards to Village Farms and the most essential one particular is that this marijuana stock has now entered the increasing hemp business as properly. The passage of Farm Bill in the United States in December 2018 has opened the floodgates to the hemp business and hemp-primarily based CBD goods. Village Farms is searching to take benefit of the new regulation. It has rapidly strung up two joint ventures. A single of these joint ventures has planted hemp in an region spanning 600 acres, whilst the other has performed the very same in an region spanning 120 acres. Also, Village Farms has also allocated five.7 million square feet of greenhouse facilities in West Texas to hemp production.