Mastronardi announces investment in Village Farms International

Mastronardi Holdings Limited announced that it has entered into three agreements, pursuant to which it will acquire ownership and control of 7,700,000 common shares of Village Farms International, Inc. , representing approximately 19.89% of all of the issued and outstanding common shares.

Mastronardi will acquire the common shares for an aggregate purchase price of $9,625,000 plus an aggregate amount of $462,000 in respect of a break fee payable by the sellers, which amounts to $1.25 and $0.06 per share, respectively. Mastronardi currently has beneficial ownership and control over 33,000 common shares of Village Farms, representing approximately 0.09% of the issued and outstanding common shares. Following the acquisition, Mastronardi will have beneficial ownership and control over 7,733,000 common shares of Village Farms, representing approximately 19.98% of all the issued and outstanding common shares.

Mastronardi will acquire the common shares for investment purposes. Depending on market conditions and other factors, Mastronardi may from time to time acquire and/or dispose of securities of Village Farms or continue to hold its current position.