Village Farms Intl Inc (VFF)

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Bill Now Returns to House to Consider Senate's Amendments
https://www.otcmarkets.com/stock/VFF/news?id=228583
PR Newswire
VANCOUVER, May 16, 2019
Bill Now Returns to Texas House to Consider Senate's Amendments
VANCOUVER, May 16, 2019 /PRNewswire/ - Village Farms International, Inc. ("Village Farms" or the "Company") (TSX: VFF) (NASDAQ: VFF) applauds the passage yesterday by a unanimous vote of House Bill 1325 ("HB 1325" or "the Bill") today by the Texas State Senate. HB 1325 is a bi-partisan bill that, if passed into law, will establish a Texas Hemp Program, providing a regulatory and licensing framework for the cultivation and processing of hemp, as well as for products made from hemp, including cannabidiol (CBD). On April 24, 2019, HB 1325 was unanimously passed by the Texas State House of Representatives.

As per normal legislative procedure, HB 1325 will now return to the House of Representatives for consideration of the Senate's amendments to the Bill. Should the House of Representatives not concur with the Senate's amendments, the Bill will proceed to Conference Committee for resolution, and then proceed to a final vote by both the House of Representatives and the Senate. Should the House of Representatives concur with the Senate's amendments to the Bill, HB 1325 will become law as a result of the super majority vote in both the House of Representative and the Senate, subject to the June 16 deadline for the Governor to veto bills — a highly unlikely proposition for a bill that passed both houses unanimously.

"This is another very positive step forward in the legislative process toward the legalization of the cultivation and processing of hemp in Texas," said Michael DeGiglio, CEO of Village Farms. "We are encouraged by this progress and look forward to HB 1325 being passed into law and the considerable opportunities that will present for our Company."

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