[PRESS RELEASE] – VANCOUVER, British Columbia, Sept. 29, 2025 – Village Farms International Inc. has announced its unanimous approval of a US$10,000,000 share repurchase authorisation for up to 5687,000 common stock shares. This represents 5% of Village Farms International Inc.’s outstanding and issued common shares.
Michael A. DeGiglio is the founder, CEO and president of DeGiglio. He said that “today’s news reflects confidence by our board in the strength our balance sheet, and our expected future cash flows to generate long-term shareholder value.” Our third-quarter cash flow is expected to be approximately $75,000,000. We believe that this authorization will provide additional opportunities to create shareholder value by a more balanced approach in capital allocation. This includes the ongoing organic investments we have made in Canada, the Netherlands, and other expansion projects.
Company management will decide the time and amount for any repurchases of common shares under the program based upon its assessment of market conditions. It is possible for the company to enter an automatic plan that will facilitate repurchases in accordance to the rules of the Securities Exchange Act of 1933 and Rule 10b5-1, or in private transactions, from time-to-time under the plan.
Repurchase programs do not require the company to purchase a certain amount of shares. They can be stopped or suspended at any point at their discretion. Actual timing, value and number of securities purchased depend on several factors. These include the current market price for the common shares of the company, economic and market conditions in general, as well as the financial performance and liquidity of the company.
The company intends to repurchase common shares for a maximum price that does not exceed the applicable securities laws. The company will fund the share repurchases with existing cash and future cash generated by operations.