– Parties urge the court to take immediate corrective action in response to renewed Request –
– Filing asserts that DEA is using authority in these proceedings to thwart a proposal it vehemently opposes –
– New evidence of widespread DEA wrongdoing necessitates Agency’s removal from participation in proceedings –
ORLANDO, Fla. and VANCOUVER, British Columbia, Jan. 06, 2025 (GLOBE NEWSWIRE) — Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) and Hemp for Victory (collectively, “The Parties”), today announced that they jointly filed a Request for Reconsideration (the “Request”) of their prior motion to disqualify and remove the Drug Enforcement Administration (“DEA” or the “Agency”) from its role as proponent of the Proposed Role to reschedule marijuana from a Schedule I to a Schedule III drug. The initial motion to disqualify was filed on November 18, 2024 and subsequently denied, but since then new evidence has emerged that The Parties believe reflect widespread DEA wrongdoing which necessitates the Agency’s disqualification from participation in these proceedings and its removal as the proponent of the Proposed Rule.
The Parties’ renewed Request contains additional evidence of undisclosed conflicts of interest and extensive improper ex parte communications by the DEA which must be disclosed and made part of the public record. It also asserts that the DEA’s hostility toward the Proposed Rule has prejudiced pro-rescheduling Designated Participants (“DPs”), that the DEA extended off-the-record assistance to anti-rescheduling DPs that was not offered to seemingly qualified pro-rescheduling DPs, and that the DEA has undermined the pro-rescheduling DPs’ significant procedural rights. The Parties have urged the court to take immediate corrective action in response to this renewed Request. Village Farms will also take further procedural action by submitting a good faith affidavit to the DEA and Department of Justice (“DOJ”) alleging DEA bias, which provides an independent basis for a continuance of the hearing and thus good cause for the filing of the renewed Request.
Shane Pennington, partner at Porter Wright Morris & Arthur, LLP and counsel to Village Farms and Hemp for Victory commented, “The new evidence presented in this filing strongly suggests the DEA is using its authority in these proceedings to subvert the process and thwart the Schedule III proposal which it vehemently opposes. We believe an immediate special evidentiary hearing into the nature, extent, source, and effect of all ex parte communications is essential, and until that process is unquestionably complete there will be no way to ensure fairness and transparency, preserve any meaningful opportunity for judicial review based on the whole record, or to salvage the public legitimacy of these proceedings.”
Michael DeGiglio, retired U.S. Navy captain, naval aviator and President, Chief Executive Officer and Founder of Village Farms concluded, “Our initial motion reflected a desire for a more transparent process consistent with the rule of law and precedent proceedings. However, since then our view has only strengthened that these proceedings are a sham orchestrated by the DEA to stonewall cannabis from being transferred to a Schedule III designation. This would be a disgraceful outcome that will continue to harm the health and safety of Americans and benefit Big Pharma and harmful addictive drugs like opioids. On behalf of our entire industry, we intend to do everything we can to support the rescheduling of cannabis and to prevent a failed outcome from occurring.”
A complete copy of The Parties’ renewed Request filed on January 6, 2025 is accessible in the FAQ section of Village Farms’ website at www.villagefarms.com/investors-faq.
About Hemp for Victory
Hemp for Victory is a non-profit dedicated to educating the public about why veterans are using cannabis over pills. Today, its Board of Directors has grown to almost half a dozen leaders with military, medical, and academic backgrounds. Hemp for Victory is on a mission to educate and bring awareness to the natural solution of cannabis as a way for veterans to manage mental and physical challenges as a result of their service. For more information, please visit www.hemp4victory.info.
About Village Farms International
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. The Company has a strong foundation as the leading and longest-tenured leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada and is capitalizing on new high-growth opportunities in the cannabis and CBD categories in North America, the Netherlands 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 80% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec.
Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential. The Company exports medical cannabis from its EU GMP certified facility in Canada to a growing list of international markets including Germany, the United Kingdom, Israel, and Australia. The Company is expanding its international presence with additional export contracts to new countries and customers in the Asia-Pacific and European regions, as well as select strategic investments in operating assets. In Europe, wholly-owned Leli Holland has one of 10 licences to grow and distribute recreational cannabis products.
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.
Village Farms Clean Energy (VFCE), through a partnership with Atlanta-based Terreva Renewables, creates clean energy from landfill gas at its Delta RNG facility. VFCE receives royalties on all revenue generated. This partnership reduces Vancouver’s greenhouse gas emissions by 475,000 metric tons of CO2 per year, equivalent to removing more than 100,000 vehicles off the road or the energy use equivalent of powering 51,300 homes for one year.
Contact Information
| Sam Gibbons Senior Vice President, Corporate Affairs Village Farms International Phone: (407) 936-1190 ext. 328 Email: [email protected] Robert Head |
