Village Farms International to Repurchase US$10 Million in Shares

*VANCOUVER, BC* — Village Farms International Inc.’s board of directors
unanimously approved a US$10 million share repurchase authorization for up
to 5,687,000 common shares, being five percent of the company’s issued and
outstanding common shares.

The timing and amount of any shares of the company’s common stock that are
repurchased under the repurchase program will be determined by company
management based on its evaluation of market conditions and other factors.
The company may enter into an automatic plan to facilitate repurchases from
time to time under the plan, in the open market or through privately
negotiated transactions in compliance with Rule 10b-18 and Rule 10b5-1
under the U.S. Securities Exchange Act of 1934, and in accordance with
issuer exemptions under section 4.8(3) and (5) of Canadian National
Instrument 62-104 pertaining to issuer bids.

The repurchase program does not obligate the Company to acquire any
particular amount of securities, and the repurchase program may be
suspended or discontinued at any time at the company’s discretion. The
actual timing, number and value of securities repurchased depend on a
number of factors, including the market price of the company’s common
shares, general market and economic conditions, the company’s financial
results and liquidity, and other considerations. The company will
repurchase its common shares at a price per common share that is no greater
than the maximum permitted under applicable securities laws. The company
expects to fund share repurchases from existing cash on hand and from
future cash generated from operations.