Cannabis operator Village Farms regains Nasdaq compliance

Cannabis operator Village Farms International is once again compliant with the Nasdaq’s listing rules.

The company regained compliance with the stock exchange by hitting the required closing bid price of $1 per share, according to a company news release.

Shares of Village Farms trade on the Nasdaq Capital Market as VFF.

In April, Village Farms received an extension to regain compliance to maintain its listing shortly after the expiration of its initial 180-calendar-day period to regain compliance.

It’s not the first time Village Farms has been in jeopardy of being delisted.

In October 2023, the company received an extension to regain compliance after getting a low-share-price warning the previous April.

Village Farms, which has offices in Vancouver, British Columbia, and Lake Mary, Florida, then regained compliance in April 2024.

Meanwhile, the company announced earlier this month it would divest its fresh produce business, Vanguard Food, to focus solely on its cannabis operations.

Divesting Vanguard allows Village Farms to increase its exposure to international cannabis markets through its export sales and Netherlands operating assets while maintaining incremental upside through its ownership in the produce company.