Nasdaq advised Village Farms that its common shares are not yet Direct Registration System (DRS) eligible, which is a requirement for listed securities on Nasdaq as the DRS system facilitates the timely settlement of trades. Village Farms provided Nasdaq with information generated from a third-party which incorrectly confirmed that Village Farms' common shares would become DRS eligible at the commencement of their trading on Nasdaq. In order to rectify this matter, Village Farms is working closely to resolve the matter as soon as possible and meet all applicable Nasdaq listing requirements.
For greater certainty, this matter is solely administrative in nature and relates exclusively to trading settlement mechanics.
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