Village Farms International Announces Completion of the Accordion Provision of the Pure Sunfarms' Credit Facility

Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) (TSX: VFF) today announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has further expanded its credit facility (the "Credit Facility") with the lending syndicate led by Bank of Montreal and including Farm Credit Canada ("FCC") and the addition of CIBC to its full $59 million capacity with the completion of the Credit Facility's accordion feature.  The Credit Facility now consists of a $15.0 million revolving operating loan (the "Revolver") and a $25.0 million term loan (the "New Term Loan"), in addition to its existing $19.0 million loan (the "Existing Loan").  The New Term Loan is specifically designated for the 1.1 million square foot Delta 2 greenhouse while the Existing Term Loan is specifically designated for the 1.1 million square foot Delta 3 greenhouse facility.  (All figures are in Canadian dollars.)  Each of the components of the Credit Facility, including the Existing Term Loan, mature on February 7, 2022.

"The expansion of this credit facility to its full $59 million capacity further strengthens Pure Sunfarms' financial resources and flexibility as it continues to build on its success to date as a leading Canadian cannabis producer and brand, including the launch of its first cannabis 2.0 products this summer," said Michael DeGiglio, CEO, Village Farms.  "The addition of another leading Canadian financial institution to the syndicate is further recognition in the strength and potential of the Pure Sunfarms business.  We appreciate the support of CIBC, BMO and FCC."

About Village Farms International, Inc.

Village Farms is one of the largest and longest-operating vertically integrated greenhouse growers in North America. Village Farms produces and distributes to national grocers in the U.S. and Canada fresh, premium-quality produce year-round from more than nine million square feet of Controlled Environment Agriculture (CEA) greenhouses in Canada and the U.S., as well as from its partner greenhouses in Canada and Mexico.  The Company is leveraging its 30 years of experience as a large-scale, low-cost vertically integrated grower for the rapidly emerging global cannabis and CBD opportunities.  In Canada, British-Columbia-based Pure Sunfarms (majority-owned by Village Farms) is one of the single largest cannabis operations in the world and one of the best-selling brands in the country.  In the U.S., subject to compliance with all applicable U.S. federal and state laws, the Company is pursuing a strategy become a leading developer and supplier of branded and white-labeled CBD products  targeting "big box" and other major retailers and consumer packaged goods companies, and with one the largest greenhouse operations in country, is well positioned for the potential federal legalization of high-THC cannabis.