March 3, 2020 / 12:39 PM / a month ago

BRIEF-Village Farms International Says Village Farms To Own 57.4% Of Pure Sunfarms

March 3 (Reuters) - Emerald Health Therapeutics Inc:

* VILLAGE FARMS INTERNATIONAL AND EMERALD HEALTH THERAPEUTICS ANNOUNCE SETTLEMENT AGREEMENT - VILLAGE FARMS TO OWN 57.4% OF PURE SUNFARMS

* VILLAGE FARMS - UNDER SETTLEMENT, 5.9 MILLION SHARES OF PURE SUNFARMS IN ESCROW PENDING EMERALD’S C$5.94 MILLION EQUITY CONTRIBUTION TO BE CANCELLED

* VILLAGE FARMS INTERNATIONAL- EMERALD WILL FORFEIT & WAIVE REPAYMENT BY PURE SUNFARMS OF ITS OUTSTANDING C$13.0 MILLION SHAREHOLDER LOAN TO PURE SUNFARMS

* VILLAGE FARMS INTERNATIONAL- VILLAGE FARMS AND EMERALD WILL MUTUALLY RELEASE EACH OTHER FROM ALL CLAIMS RELATED TO OR ARISING FROM DISPUTES

* VILLAGE FARMS INTERNATIONAL - EMERALD WILL ISSUE A PROMISSORY NOTE TO PURE SUNFARMS IN AMOUNT OF C$952,237

* VILLAGE FARMS INTERNATIONAL INC - VILLAGE FARMS HAS MADE AN ADDITIONAL EQUITY CONTRIBUTION TO PURE SUNFARMS OF C$8.0 MILLION IN 2020

* VILLAGE FARMS INTERNATIONAL - EMERALD HAS AGREED THAT CO WILL RECEIVE ADDITIONAL SHARES IN PURE SUNFARMS TO REFLECT ADDITIONAL EQUITY CONTRIBUTION

* VILLAGE FARMS INTERNATIONAL INC - ANY INCREMENTAL FINANCIAL IMPACT WILL BE RECOGNIZED BY PURE SUNFARMS IN Q1 OF 2020

* VILLAGE FARMS -UPON CLOSING OF TRANSACTIONS AS PER SETTLEMENT AGREEMENT, PURE SUNFARMS WILL RECOGNIZE C$8.1 MILLION IN SALES IN 2019 Source text for Eikon: Further company coverage:

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