Regulatory Landscape Risk: Village Farms operates in industries, particularly cannabis, that are subject to complex and evolving regulatory frameworks. Changes in laws, licensing requirements, taxation, or federal classification of cannabis in key markets could negatively impact their operations, expansion plans, and profitability.

Market Competition Risk: Both the greenhouse produce and cannabis markets are highly competitive. Increased competition from new entrants, existing players, or alternative products could lead to pricing pressures, reduced market share, and lower margins for Village Farms' products.

Price Volatility Risk: The prices for agricultural commodities like tomatoes, cucumbers, and cannabis can be highly volatile due to factors such as weather patterns, crop diseases, oversupply, changes in consumer demand, and economic conditions. Significant price declines could severely impact the company's revenue and profitability.