Exhibit 99.6
FORM51-102F3
Material Change Report
| Item 1 | Name and Address of Company |
Village Farms International, Inc. (“Village Farms”)
4700 - 80th Street
Delta, British Columbia
V4K 3N3
| Item 2 | Date of Material Change |
March 19, 2020.
A news release was issued through CNW Group on March 19, 2020.
| Item 4 | Summary of Material Change |
Village Farms announced that it has entered into an underwriting agreement with Beacon Securities Limited (“Beacon”) as sole underwriter, pursuant to which Beacon has agreed to purchase 3,125,000 common shares (the “Offered Shares”) in the capital of Village Farms at a price of C$3.20 per Offered Share (the “Issue Price”) for aggregate gross proceeds to Village Farms of C$10,000,000 (the “Offering”).
In addition, Village Farms has granted Beacon an over-allotment option, exercisable, in whole or in part, to purchase up to an additional number of Offered Shares equal to 15% of the Offered Shares sold pursuant to the Offering (the “Over-Allotment Shares”), at the Issue Price, at any time up to 30 days from the closing of the Offering.
| Item 5 | Full Description of Material Change |
5.1 Full Description of Material Change
Village Farms announced that it has entered into an underwriting agreement with Beacon pursuant to which Beacon has agreed to purchase the Offered Shares at the Issue Price for aggregate gross proceeds to Village Farms of C$10,000,000.
In addition, Village Farms has granted Beacon an over-allotment option, exercisable, in whole or in part, to purchase any Over-Allotment Shares at the Issue Price at any time up to 30 days from the closing of the Offering.
The closing of the Offering is expected to occur on or about March 24, 2020 and is subject to the completion of formal documentation and receipt of all necessary regulatory and stock exchange approvals. Village Farms intends to use the net proceeds from the Offering for working capital and general corporate purposes.
