Village Farms International s Investee DutchCanGrow Provides Update on Production Licensing Lottery for Netherlands
Dec 11, 2020 2:10 PM ET Legal Newswire POWERED BY LAW.COM
Village Farms International, Inc. announced that DutchCanGrow Inc. ( DCG ), a Netherlands-based cannabis enterprise in which Village Farms holds just under a 16% ownership stake, as the outcome of a lottery process, did not receive one of the ten cannabis production licenses (the License ) under the Dutch government s 10-city Experiment to Investigate Closed Cannabis Supply Chains (known by its Dutch language acronym WECG ).
Based on the results of the random draw, DCG has been placed in the eighth position on a waiting list for a License. The applicants drawn in the one to ten positions to potentially receive of one the ten available licenses will be subject to a thorough review of their business affairs and personnel under the Public Administration (Probity Screening) Act (known by its Dutch langua