UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
Amendment to Term Loan Facility.
On May 24, 2024, Village Farms International, Inc. ("Village Farms" or “the Company”), entered into a Second Amended and Restated Credit Agreement (the “Amendment”) with Bank of Montreal ("BMO") as the lender. The Amendment, among other things, extends the maturity date to May 24, 2027.
The Amendment amends and restates the Company’s exiting Amended and Restated Credit Agreement with BMO dated May 7, 2021 (the “Credit Agreement”). A copy of the Credit Agreement was filed as Exhibit 10.1 to the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2021 and filed with the Securities and Exchange Commission on May 10, 2024.
Item 7.01 Regulation FD Disclosure.
On May 31, 2024, the Company issued a press release announcing the Amendment as described above. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
The information contained in this Current Report on Form 8-K under Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. The information contained in this Current Report on Form 8-K under Item 7.01, including Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Village Farms International, Inc. |
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Date: |
May 31, 2024 |
By: |
/s/ Stephen C. Ruffini |
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Name: Stephen C. Ruffini |