Vancouver-based greenhouse produce company Village Farms has picked up its final order from Ontario’s Superior Court of Justice for its conversion from an income fund to a corporation.
The conversion is expected to take effect Dec. 31, the company said in a release Tuesday.
The common shares of what will then be known as Village Farms International, Inc., are expected to start trading on the TSX under the symbol “VFF” on or around Jan. 5, 2010.
The units of the Village Farms Income Fund will then be delisted from the TSX, the company said.
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The fund’s unitholders also approved the proposed conversion at a special meeting last Wednesday (Dec. 9) in Delta, B.C.
“The conversion from an income trust structure to a public corporation is an integral structural component to better position Village Farms in its execution of its ongoing growth strategy,” Michael DeGiglio, CEO of the fund’s operating subsidiaries, said in a release Dec. 10.
Village Farms bills itself as one of the largest producers, marketers and distributors of greenhouse-grown tomatoes, bell peppers and cucumbers in North America, from operations in B.C. and Texas.
