AN UNMATCHED PLATFORM FOR THE INTERNATIONAL CANNABIS OPPORTUNITY 1 - - PowerPoint PPT Presentation

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July 2020

AN UNMATCHED PLATFORM FOR THE INTERNATIONAL CANNABIS OPPORTUNITY

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Forw rward Lo Lookin ing St Statements

This presentation contains certain "forward looking statements". These statements relate to future events or future performance and reflect the Company's expectations regarding its growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward-looking statements reflect the Company's current internal projections, expectations or beliefs and are based on information currently available to the Company. In some cases, forward looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict" , "potential", "continue" or the negative of these terms or other comparable terminology. A number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking

• statements. In evaluating these statements, you should specifically consider various factors, including, but not

limited to, such risks and uncertainties as availability of resource, competitive pressures and changes in market activity, risks associated with U.S. and Canadian sales and foreign exchange, regulatory requirements and all of the other "Risk Factors" contained in the Company's filings with securities regulators, including its Annual Report on Form 10-K, which are available at www.sec.gov/edgar and www.sedar.com and the Company’s web

• site. Actual results may differ materially from any forward-looking statement. Although the Company believes

that the forward-looking statements contained in this presentation are based upon reasonable assumptions, you cannot be assured that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this presentation, and other than as specifically required by applicable law, the Company assumes no obligation to update or revise them to reflect new events

• r circumstances.

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PRICE

TSX:VFF NASDAQ: VFF $7.13

MARKET CAPITALIZATION

C$401 M

(basic)

SHARES OUTSTANDING

56.3 M

(basic)

59.4 M

(diluted)

C$19.29 C$3.01

MANAGEMENT & BOARD OWNERSHIP

~19.7%

LISTING SYMBOL

(As of July 15, 2020)

US$296 M

(basic) Publicly traded company on TSX since 2006 (NASDAQ since 2019) Very strong alignment of management and shareholders

Mark rket Facts US$14.60 US$2.07 $5.25

52-WEEK HIGH/LOW

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Global CBD opportunity: $22B by 20222 Global high-THC cannabis opportunity: $47B by 20255

Village Farms’ Vision

To

• be a

a hig ighly ly profitable le, plan lant-based Con

• nsumer Packaged Go

Goods company, le leveragin ing ou

• ur

decades of

• f experie

ience as as lar large-scale le, lo low-cost greenhouse grower an and vertically ly in integrated supplier to North America’s major grocers and “big box” retailers for emerging, high-valu lue

• p
• pportunitie

ies U.S .S. CBD Mar arket For

• recast

$12B by 20252

Can anadian Leg Legal l Can annabis is Mar arket For

• recast

$3.3B in in 20211 $6.0B by 20252

U.S .S. Le Legal l Can annabis is Mar arket For

• recast:

$30B by 20253

• 1. RBC Dominion Securities 2. Raymond James 3. Brightfield Group 4. Arcview/BDS Analytics

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Gr Growin ing Par artners

Veg egetable les

Unmatched Nort rth Ameri rican Greenhouse Asse ssets

Ca Canada: De Delta, BC BC

1 Faci acilit ity - Veg egetable les 2.6 M M sq.

• q. ft
• ft. (60

(60 ac acres) s)

U.S .S.: Wes est t Texas

4 Faci acilities - Veg egetables 5.7 M M sq.

• q. ft
• ft. (13

(130 ac acres)

8.3 M ft2 (190 acres) Owned Ass ssets

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Pure Su Sunfarms

(58.7 % Owned Cannabis JV)

2.2 M ft2 (50 acres)

Ca Canada: De Delta, BC BC

2 Faci acilit itie ies: : De Delt lta 3 & & 2 --

• - 2.2 M

M ft ft2

Mexico: ~5. ~5.0 M ft ft2 (~ (~115 ac acres) Ontario: ~5 ~5.2 .2 M ft ft2 (~ (~120 ac acres) BC: BC: ~3 ~3.0 .0 M ft ft2

2 (~

(~70 ac acres)

~13.2 M ft2(~305 acres)

Hea Head Of Offic fice: Orla Orlando

Di Distrib ibution Centers

Vancouver, BC BC: ~1 ~110,0 ,000 ft ft2 For

• rt

t Wor

• rth, TX:

X: ~6 ~65,0 ,000 ft ft2

6

750 years

• f combined master grower

experience from around the world

Cannabis and hemp are agricultural products like any other

Le Leaders in in Hig igh-Tech, Lo Low-Cost Vert rtic icall lly In Integrated Greenhouse Growin ing

Decades of experience as a

vertically integrated grower/distributor, meeting the stringent specifications of North America’s top grocers

30 30-year

history developing and operating mega-scale greenhouses

Exp xperts

in n agric agricult ltural l pr prod

• duct safety

Leaders

in n crop

• p ma

management regi egistratio ions in n Nort North Am Americ ica

Proven

tr track recor

• rd as

as a a low-cos

• st op
• per

erator

• r

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Majority-Ownership of Canada’s Premier Cannabis Supplier

CANADA

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Supported by Village Farms’ three decades of experience growing many different crops

Dif ifferentiated Cannabis Str trategy Driv iving In Industry-Leading Performance

Proven operating systems, 20 years of site- specific experience & trained labor force Decades of climatological data Experienced growing/operational teams Con

• nversion of
• f exis

istin ing lar large sc scale, lo low-cost precis ision ag agricult ltural l op

• perations

Extensive in-house facilities development and conversion expertise President/CEO: Mandesh Dosanjh

Former SVP w/ LCBO where he developed & managed supply chain/wholesale strategy for recreational cannabis in Ontario

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Ramp to full production at Delta 3 facility in <15 months

Pure Sunfarms is is Setting th the Standard in in Canada

Industry leading EBITDA margin: 65% (2019) Lowest “all in” cultivation cost1 reported by a Canadian LP: C$0.74/gram2

• 1. Based on dried flower grams only (not including trim or shatter). Includes depreciation.
• 2. Average of last four quarters. Cultivation cost impacted by seasonal costs, primarily

utilities and co-gen rentals in winter months not in summer months.

Performance achieved while greenhouse operations were in ramp up for much of that period One of the largest Canadian LPs by net recreational cannabis sales: C$82.8 M (2019) One of the very few profitable Canadian LPs: Five consecutive quarters of net income

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Pure Sunfarms: One of Canada’s Top Retail Cannabis Suppliers

Pure Su Sunfarms Products No Now Avail ilable le in in 4 4 of

• f th

the 5 5 Lar Largest Provin incial l Mar arkets in in Can anada Full line of branded dried flower products now available in Ontario and B.C., and in Alberta starting in the coming weeks / Preparing for launch of Cannabis 2.0 products in Q2 2020 Full line of branded dried flower products now available in Ontario and B.C., and in Alberta starting in the coming weeks / Preparing for launch of Cannabis 2.0 products in Q2 2020 ~39% of Cdn pop’n

LTM sales: $408 M1

25% of Cdn sales2 $28 sales per capita2 ~100 retail outlets

(1 per ~135,000 people)

Approved to begin shipping to Manitoba Actively pursuing supply agreements with additional provincial boards

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Selling to ~70% of the Canadian market3

• 1. Source: Statistics Canada. 2. Based on LTM sales (April 2020-May 2019). 3. By population. Includes Manitoba.

Ontario io Albe lberta Br Brit itis ish Co Colu lumbia ia

La Launched: : Se Sept 2019 La Launched: : Oct 2019 La Launched: : Feb 2020

~14% of Cdn pop’n

LTM sales: $176 M1

11% of Cdn sales2 $34 sales per capita2 ~180 retail outlets

(1 per ~28,000 people)

~12% of Cdn pop’n

LTM sales: $348 M1

22% of Cdn sales2 $79 sales per capita2 >430 retail outlets

(1 per ~10,000 people)

Sa Saskatchewan

La Launched: : June 2020

~3% of Cdn pop’n

LTM sales: $91 M1

6% of Cdn sales2 $77 sales per capita2 ~44 retail outlets

(1 per ~27,000 people)

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Leading Drie ied Cannabis Brand and Product Performance

Hig igh-qualit ity B.C.-grown products th that con

• nsumers wan

ant at t an an ap approachable le pric rice-poin int

• #1 brand: 14.3% market share with OCS1,2,3
• 20% market share with OCS in April 20204
• #1 product5 and 2 of top 4 products4 with OCS2

Retail price as low as $99/package ($3.54/g)6 New Large-Format 28g (1oz) Value Packages

Launched March 2020

Note: OCS data has been calculated by Pure Sunfarms from sales data provided by OCS.

Launched two new dried flower strains, D. Bubba and high-THC Pink Kush, in June 2020 broadly launched pre-rolls in June 2020 Broad range of dried flower products/sizes:

Conceptual packaging shown.

• #1 dried cannabis product with OCS in April3
• Record one-week sales volume with OCS

for a dried cannabis product

• 1. Ontario Cannabis Store. 2. YTD ended April 30, 2020. 3. By both kg sold and

dollars sold. 4. By kg sold. 5. By dollars sold. 6. BC Cannabis Stores.

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Sh Shift ift to Branded Retail il Sa Sale les: : Multi ltiple le Growth Driv rivers

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In addition to branded retail sales, long-term goal to supply as much as 1/3 of the Canadian cannabis market on a wholesale basis

New Products

• New strains
• Dried Flower

SKUs

• Large-Format

Packages

• Pre-rolls
• Bottled Oils
• Cannabis 2.0

2019

Expansion into More Provinces

2020+ Predominantly Retail Branded Sales

Growth in Consumption/ Market Expansion of # of Retail Stores Contraction

• f Supply

(Exit of some suppliers)

2020+ Predominantly Branded Retail Sales 93%

Sales Wholesale

Pricing Power

• Expand share
• f legal market
• Convert illicit

market

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Pure Su Sunfarms: Co Conti tinuous New Product Roll ll Outs

Leveraging its Leading Dried Flower Brand Performance Dried Flower Bottled Oils Vapes Other 2.0 Products

Launched: Sept 2019

Launch: Summer 2020 Launch: Summer 2020

Goal to capture >20% of the retail dried flower market across Canada and selectively enter new retail product categories in which it can be the #1 or #2 brand

Launch: Late 2020

10 strains >30 SKUs

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Majority-Owned (58.7%) Joint Venture

Pure Sunfarms: One of Canada’s Largest Vertically Integrated Producers

De Delta 3 3 (D (D3) 1.1 M ft2

~5 ~50,000 kg g of

• f production in

in 2019 Ne New state-of

• f-th

the-art 65,0 ,000 sq. . ft. ft. processing cen center

De Delta 2 2 (D (D2) 1.1 M ft2

50% exp xpected to

• be lice

licensed in in 2020

De Delta 1 1 (D (D1) 2.6 M ft2

Village Farms has right to grow cannabis independently in D1 after Sept 2021 if PSF does not exercise option on facility

Delta 3: 7 extraction rooms in new processing center can process 35,000 kg of biomass annually – processing center designed for full EU GMP compliance and certification

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Pure Sunfarms is Contributing to VFF’s Financial Results

(millions except volume and %)

Q1 2020

(ended March 31, 2020)

FY 2019

(ended December 31, 2019)

$C $US $C $US

Sales Volume 10,365 kg 26,000 kg Net Sales $18.0 $13.1 $82.8 $62.3 Gross Margin 52% 52% 76% 76% SG&A as a % of Sales 18% 18% 13% 13% Net Income $8.6 $6.2 $36.5 $27.4 EBITDA3 $6.7 $4.9 $54.1 $40.7

Pure Sunfarms’ Financial Results

(Before Village Farms’ proportionate share1)

• 1. As of March 31, 2020, Village Farms owned a non-controlling majority interest in Pure Sunfarms of 57.4%. On April 2, 2020, Village Farms interest in Pure Sunfarms increased to 58.7%. 2. Based on

dried flower grams only (not including trim or shatter). Includes depreciation. Average of last four quarters. Cultivation cost impacted by seasonal costs, primarily utilities and co-gen rentals in winter months not in summer months. 3. EBITDA is not a recognized earnings measure and does not have a standardized meaning prescribed by IFRS. Therefore, EBITDA may not be comparable to similar measures presented by other issuers. Management believes that EBITDA is a useful supplemental measure in evaluating the performance of the Company.

Five consecutive quarters of positive net income & six consecutive quarters of positive EBITDA all-in cultivation cost2:

C$0.74/gram

(average of last four quarters)

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Uniquely Positioned for the

Emerging High-Growth Opportunities in CBD and Federally Legalized High-THC Cannabis

UNITED STATES & INTERNATIONAL

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Collaborating with geneticists, academics and researchers to drive genetic advances and cultural practices to optimize plant traits and yields

Hemp/CBD: A S Sig ignif ific icant Opportunit ity

Vertically ly In Integrated Str Strategy to Cap apture Valu alue Throughout Su Supply ly Chain ain

Outdoor Hemp Cultivation

Will initially sell hemp biomass ahead of product development to drive near-term cash flow

Greenhouse Hemp Cultivation On-Site Extraction Centralized Extraction Product Development & Manufacturing

• White-Labeled CBD Products
• Branded CBD Products

Targeting “Big Box” & Other Major Retailers and CPG Companies

Projected U.S. CBD Market

US$12B by 20251

• 1. Raymond James

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Outdoor Culti ltivation

La Large-Scale le Hemp Productio ion Potentia ial

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Gr Greenhouse Con

• nversion Opportunit

ity

Per ermia ian Ba Basin, Texas facili cility: Lice Licensed by State of

• f

Texas for hem emp production – con

• nversion for hem

emp producti tion can be e com

• mpleted

ed quic ickly ly Villa illage Field ields He Hemp Join Joint t Ven entu ture: Successful first growing season with average yield of 1,600 lbs/acre

Per ermia ian Bas Basin in, , Texas

Ready to move forward with hemp production upon FDA regulatory clarity around CBD Pursuing additional opportunities to move forward in the current regulatory environment

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Momentum Towards Federally lly Le Legali lized Ca Cannabis is in in th the U.S. .S.

Unmatched U.S .S. Gr Greenhouse Ass ssets in in th the Best Gr Growin ing Clim limate for Can annabis in in th the U.S .S.

91% of Americans favour legal marijuana for medical or recreational use2 High THC-cannabis now legal in some form in >2/3 of states

• Majority of US population now has access to legal

cannabis under state laws

• U.S. legal cannabis sales in 2019: $12B3

Bi-partisan support: 55% of Republicans and 78% of Democrats support federal legalization of cannabis (2019)2

• 1. NORC at the University of Chicago, Gallup and Pew Research. 2. Pew Research.
• 3. Arcview/BDS Analytics 4. New Frontier Data.

Su Support for Can annabis is Le Legali lization in in th the U.S .S. at t an an All ll-Time Hig igh1 Cannabis uses the same growing systems as hemp Greenhouse operations could be rapidly converted to cannabis production

Per ermia ian Ba Basin (Mo

(Monahans) >1 >1.3 M M ft ft2 (30 (30 ac acres)

Marfa (2

(2 faci acili litie ies) >2 >2.5 M ft ft2 (60 (60 ac acres)

Fort Da Davis

>1 >1.7 M M ft ft2(4 (40 ac acres)

4 facilit

lities in in Texas 5.7

.7 M ft

ft2 130 acr acres

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Village Farms already has long-established relationships with the leading “big box” retailers, and a reputation for quality, reliability and safety

Village Farms’ Hemp/CBD Advantage

Milli illions of dollars and countless

person hours invested in infrastructure and IT systems to consistently meet customers’ exacting standards

Decades of experience as a

vertically integrated supplier to North America’s top grocery and “big box” retailers

Exis xisting in-house

regulatory team with deep expertise and extensive experience with USDA and FDA

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In Internatio ional l Opportunit itie ies

Pursuing First Legal Recreational Cannabis Market in Europe: Investment in DutchCanGrow

Applying to become one of up to 10 licensed growers in Netherlands to supply the first legal recreational cannabis market in Europe (Dutch government’s Experiment to Investigate Closed Cannabis Supply Chains) Estimated annual supply requirement for the 10 cities in the program of ~65,000 kilograms of dried cannabis Licenses expected to be awarded late 2020 Initial program is for 10 cities in Netherlands (~78 coffee shops) with potential for national expansion (~580 coffee shops)

First step in leveraging significant cannabis success in Canada for international cannabis markets

DutchCanGrow: Netherlands-based enterprise composed of seven partners with expertise across a range of disciplines critical to its success

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Strong alignment of management and shareholders

Join Joint Ven entu tures es for Outdoor Cu Culti ltivati tion and Extraction

Poise ised to Deliv liver r Meanin ingfu ful l Sh Sharehold lder Valu lue

Pure Sunfarms is a proven success with significant growth potential:

• Lowest-cost, high-quality cannabis supplier in Canada, with a leading brand
• Consistently profitable
• Multiple growth drivers in the short and long term

Produce business provides an unmatched, well-established platform for emerging high-value vertically integrated agricultural opportunities in the U.S. and internationally Pursuing the significant opportunity in CBD in the U.S. with both near-term and long-term strategies Very well positioned for the potential federal legalization of high-THC cannabis in the U.S., as well as opportunities internationally

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Appendix

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DEEPLY EXPERIENCED MANAGEMENT TE TEAM

Michael A. DeGiglio President & Chief Executive Officer

Former U.S. Navy pilot/Captain and pioneer of the greenhouse industry, he founded Village Farms and has been CEO since inception (1987), building it to one

• f

NA’s largest greenhouse produce growers. Previously founded greenhouse tech company, Agro Dynamics, acquired by Nasdaq-listed EcoScience, where he became CEO.

Stephen C. Ruffini Executive VP & Chief Financial Officer

CFO since 2009, was previously COO/CFO of Nasdaq- listed consumer product company Performing Brands, CFO of Hit Entertainment (FTSE-250) (Barney the Dinosaur, Bob the Builder, Thomas the Tank Engine) and CFO/Treasurer

• f

private companies Lyrick Corporation and RCL Enterprises, Inc.

Mike Bledsoe, PhD VP Food Safety & Regulatory Affairs

40 years of agricultural and regulatory experience. Developed and managed Village Farms’ Food Safety Program, Employees Safety Programs. Serves on the boards and or steering committees for IR-4/EPA, USDA and Southern IPM.

Andrew Gigante VP Financial Planning & Analysis

Over 20 years of experience in the agriculture industry. Managed accounting for greenhouses, customer needs, analysis and forecast of the business lines, products, supply chain, cost and special projects.

Jonathan Bos VP of Asset Development

Over 30 years in the high-tech horticulture trade. R&D team member for Village Farms’ cannabis growing concept and facilities design and construction, greenhouse asset renovations, new site and technology developments. Leads Clean Energy

• Division. With Village Farms for 24 years.

Arie Van Der Giessen VP & Regional Facility Manager – Texas

A veteran greenhouse grower with over 40 years’ experience; both in Europe and North America. Arie brings tremendous horticultural, large scale cultivation skills along with his extensive industry experience to Village Farms.

Dirk de Jong VP & Regional Facilities Manager - Canada

Passionate and successful grower with over 30 years

• f experience managing entire high-tech horticulture

facilities in Holland, US and Canada. A key senior management member of Village Farms, dedicated to his team’s high performance, low cost and quality production since 1999.

Paul Selina VP of Applied Research

Applying a lifetime greenhouse experience and wide technical knowledge to cannabis growing. Working on design, construction, and operational plans at Pure SunFarms and Village Farms’ hemp crops in the US.

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DEEPLY EXPERIENCED MANAGEMENT TE TEAM

Patti Smith Corporate Controller

A CPA, with over 20 years of experience in senior management roles for various U.S. public companies.

• Ms. Smith is a seasoned professional with expertise in

SEC rules and regulations, US GAAP, IFRS and SOX.

Mike Minerva Senior VP Grower Relations & Supply Development

In his 24 years at Village Farms, Michael has worked in several different capacities and currently serves as Senior VP

• f
• ur

Grower Relations & Supply Development Division.

Brett Wiley Senior VP Sales & Sales Operations

40 years experience merchandising and selling a variety of fruits and vegetables. Joined Village Farms 22 years ago in 1998 after working in the Florida tomato industry for 6 years.00

Lyra Vance Director Strategic Business & Sales Development

30 years in the global produce industry leading teams. Implement sales, marketing and promotional strategies for multi-million dollar accounts nationwide.

Steve Poklemba National Sales Manager – Delta BC

With over 30 years of experience in agriculture, he has developed skills and experience in production, labor management, labor cost analysis, and sales

• management. He joined Village Farms 22 years ago and

currently manages the daily sales production from Delta BC

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DEEPLY EXPERIENCED MANAGEMENT TE TEAM

Mandesh Dosanjh President & CEO

A seasoned senior level executive, having led business

• perations for well-known retailers. Recently led

LCBO’s supply chain and wholesale strategy as it prepared for the legalization of adult-use cannabis.

Michael Lattimer VP, Operations

Has held significant roles in manufacturing, supply chain, and IT spanning the globe across a wide range

• f industries including consumer packaged goods,

alcohol, tobacco and automotive.

Elaine McAnally VP, People & Experience

15 years across a variety of industries, transforming fast-paced business environments from infancy and start-up, to growth and acceleration, to re-invention and transformation.

Miguel Martinez VP, Finance - CPA, CA

Over a decade of financial experience which has allowed him to build a high-performance, cross- collaborative team overseeing financial planning, debt financing, and budget management systems.

Phillip Jennings, III Chief Business Officer

A life-long farmer and entrepreneur, he has grown numerous fledgling agricultural ventures across a wide variety of food and other crops into successful large-scale commercial operations.

Maria Guest VP, Brand & Commercial

Over 20 years leading growth brands, including strategy, planning, and brand positioning. Recently CMO for Emblem, overseeing adult-use strategy across various consumer segments.

Phil Jennings, IV Chief Executive Officer

An 11th generation farmer, he has an immense passion for growing. He has successfully managed a diverse portfolio of ag operations in the food and fiber markets, specializing in start ups with unique barriers to entry.

Rob Baldwin VP, Cultivation & Greenhouse Operations

18 years in the agricultural industry, and over a decade managing the current greenhouse where Pure Sunfarms operates. Extensive knowledge of growing in BC’s Fraser Valley combined with science

• f greenhouse growing.

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SE SEASO SONED BO BOARD OF DIR IRECT CTORS

John R. McLernon Chairman

• Mr. McLernon is an Honourary Chairman and Co-Founder of the Colliers Macaulay

Nicolls Group Inc. Colliers Macaulay Nicolls is the largest partner of Colliers International Commercial Real Estate Services (“Colliers”) a global organization with

• ver 240 offices in 50 countries. He served as Chairman and Chief Executive Officer of

Colliers from 1977 to 2002, and as Chairman until December 2004. Mr. McLernon also serves as a director of numerous corporations, income trusts, and theatre and arts

• rganizations, and is Chairman of A&W Revenue Royalties Income Fund.

John P. Henry

• Mr. Henry has served as a director and member of the audit committee of Village Farms

since 2001. From 1981 to 2000, he was employed by Ocean Spray Cranberries, Inc. as their Senior Vice President of Grower Relations and Chief Financial Officer, retiring in

• 2000. Ocean Spray grew from $400 million to $1.3 billion in revenues during his tenure.

He also served as a Director of Nantucket Nectors, a majority owned subsidiary of Ocean Spray. From 1980 to 1981 he was Chief Financial Officer of Castle Toy Co, Inc.

Michael A. DeGiglio CEO, Village Farms

A pioneer in the greenhouse industry, Mr. DeGiglio founded and has served as CEO of Village Farms, one of the first and today the longest operating hydroponic vegetable greenhouse business in North America, since its inception in 1987. Prior to Village Farms, he founded and served as CEO of Agro Dynamics, Inc., the first to introduce a number of new greenhouse technologies to the North American market. Upon the acquisition of Agro Dynamics by EcoScience, a NASDAQ agricultural biotech company, he became CEO, until the company was acquired privately by Village Farms in 2001. Mr. DeGiglio is a former U.S. Navy officer and tactical carrier jet aviator.

David Holewinski

• Mr. Holewinski served as a director of Agro Power Development Inc. (“APDI”) from 2004

until October 2006. Between 1995 and 2000, Mr. Holewinski also served as Senior Vice President of Business Development for APDI. Mr. Holewinski has co-founded two biotechnology companies and also co-founded a company with novel precast concrete technology for the construction industry. Between 1983 and 1988, Mr. Holewinski was a Manager of Business Development for ConAgra, International.

Stephen Ruffini CFO, Village Farms

• Mr. Ruffini began with Village Farms on January 5, 2009. Previously, Mr. Ruffini served as the

Chief Operating and Chief Financial Officer of Performing Brands, a small cap US publicly traded company. From 2001 until October 2005, Mr. Ruffini served as the Chief Financial Officer

• f

Hit Entertainment, plc a publicly traded (FTSE-250) UK-company. Hit Entertainment is the preeminent young children’s entertainment company owning such brands as Barney the Dinosaur, Bob the Builder and Thomas the Tank Engine. From 1993- 2001, Mr. Ruffini served as the Chief Financial Officer and Treasurer of Lyrick Corporation and RCL Enterprises, Inc. privately-held companies.

Christopher C. Woodward

• Mr. Woodward is a member of the Audit Committee and Compensation Committee. Mr.

Woodward serves as a director for a number of private and public companies as well as charitable institutions. These include the P.A. Woodward Medical Foundation, Brentwood College and the Sea to Sky Gondola Corp. He serves as the current Chair for the Vancouver Coastal Health Authority, and the Chair of the Keg Royalty Trust.

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July 2020

AN UNMATCHED PLATFORM FOR THE INTERNATIONAL CANNABIS OPPORTUNITY