Stem Holdings Inc. (OTCQB: STMH CSE: STEM), (the “Company” or
“Stem”) a publicly traded real estate company specializing in
acquiring and improving properties for the cannabis industry, along
with its in-state partners have been awarded 4 cultivation, 5
processing, and 4 dispensary licenses by the Oklahoma Medical
Marijuana Authority (OMMA).
“Stem’s strategic expansion into Oklahoma
furthers our mission in bringing high-quality, compliant and triple
tested products to Oklahoma and access to medical marijuana in a
safe, comfortable and welcoming environment,” says Stem’s CEO, Adam
Berk. “Stem’s real estate expertise and our marijuana partners’
extensive knowledge in medical marijuana cultivation, retail and
processing will ensure that we are able to consistently provide
patients with the best medical marijuana experience.”
Stem is excited to introduce their marijuana
partners’ award-winning brands to the Oklahoma medical marijuana
market including, Cannavore artisan edibles, Dose-ology,
full-spectrum CBD tinctures and THC extracts, and Supernatural
infused honey. All of the products will be manufactured using
medical marijuana grown by the renowned Oregon-based cultivators
TJ’s Gardens and Yerba Buena in Oklahoma state-of-the-art
facilities. Stem plans on offering a wide variety of flower,
edibles, and extracts at the 4 licensed dispensaries across
Oklahoma in the cities of Moore, Norman, Oklahoma City, and Tulsa.
Each licensed location will be uniquely designed with the intention
of creating the best customer and educational experience,
accommodating each and every registered medical marijuana patient’s
individual needs.
Stem strategically partnered with two successful
Oklahoma business owners for this venture - Ty Hartwig and Lincoln
“Link” Owen Clifton. Ty is an entrepreneur and investor who has
founded and developed a dozen different successful businesses
across a great breadth of industries. Ty’s portfolio of companies
include construction, energy, food and service, manufacturing and
finance businesses. Ty also founded the largest
design-build-maintain landscape company in the state of Oklahoma,
along with wholesale nurseries and tree farms. Link is an
entrepreneur and a large commercial real estate investor who
previously owned 100 convenience stores and a large-scale wholesale
fuel distribution business, which were both subsequently sold to
publicly traded companies. Link currently works with the oil and
gas industry and is in involved in the service of every aspect of
the business, including pipeline structure operations and
transportation. Both Ty and Link are dedicated to having a positive
impact in the communities their businesses serve. Together, they
employ more than 600 Oklahoma residents.
“We are thrilled to partner with Stem. Ty
and I plan on being instrumental in helping this joint
venture achieve our goals of offering Oklahoma patients with the
very best customer experience and medical marijuana products,” says
Link Clifton. “Our business acumen and positive relationships we’ve
built over the past few decades in our home state will be valuable
in positioning Stem as a statewide leader in the Oklahoma medical
marijuana market."
Stem will begin property renovations
immediately.
xxx
About Stem Holdings Inc.
Stem has positioned itself as a leader in the
U.S. cannabis industry by building state-of-the-art licensed
solutions that include: cultivation, processing and retail
properties across multiple U.S. markets. As an innovative real
estate company, Stem acquires and improves properties for the
cannabis industry and licensed operators. Because traditional
institutional lenders have not directly participated in the
financing of cannabis-related real estate, there has been a
shortage of available capital. Stem has set itself apart by
acquiring buildings, investing in leasehold improvements, providing
turn-key solutions and partnering with cannabis businesses,
including a variety of edibles, hemp cultivation, extraction, and
processing companies. Stem has developed an extensive portfolio of
award-winning consumer-facing brands, partnering with well-known,
branded cannabis operators with a proven track record of success,
such as TJ’s Gardens, Cannavore, Incredibles, Dose-ology and Green
T-Farms. For more information, visit www.stemholdings.com.
Cautionary Note Regarding
Forward-Looking Information
This press release contains statements which
constitute “forward-looking information” within the meaning of
applicable securities laws, including statements regarding the
plans, intentions, beliefs and current expectations of the
management of Stem with respect to future business activities.
Forward-looking information is often identified by the words “may”,
“would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”,
“believe”, “estimate”, “expect” or similar expressions and include
information regarding: (i) the ability of the Company to
successfully achieve its business objectives, (ii) plans for
expansion of Stem, and (iii) expectations for other economic,
business, and/or competitive factors.
Investors are cautioned that forward-looking
information is not based on historical facts but instead reflect
the management of Stem’s expectations, estimates or projections
concerning future results or events based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made. Although Stem believes that the
expectations reflected in such forward-looking information are
reasonable, such information involves risks and uncertainties, and
undue reliance should not be placed on such information, as unknown
or unpredictable factors could have material adverse effects on
future results, performance or achievements of the Company. Among
the key factors that could cause actual results to differ
materially from those projected in the forward-looking information
are the following: changes in general economic, business and
political conditions, including changes in the financial markets;
and in particular in the ability of the Company to raise debt and
equity capital in the amounts and at the costs that it expects;
adverse changes in the public perception of cannabis; decreases in
the prevailing prices for cannabis and cannabis products in the
markets that the Company operates in; adverse changes in applicable
laws; or adverse changes in the application or enforcement of
current laws, including those related to taxation; the inability to
locate and acquire suitable companies, properties and assets
necessary to execute on the Company’s business plans; and
increasing costs of compliance with extensive government
regulation. This forward-looking information may be affected by
risks and uncertainties in the business of Stem and market
conditions.
Should one or more of these risks or
uncertainties materialize, or should assumptions underlying the
forward-looking information prove incorrect, actual results may
vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Although Stem has
attempted to identify important risks, uncertainties and factors
which could cause actual results to differ materially, there may be
others that cause results not to be as anticipated, estimated or
intended. Stem does not intend, and does not assume any obligation,
to update this forward-looking information except as otherwise
required by applicable law.
No securities regulatory authority has in any
way passed upon the merits of the proposed transactions described
in this news release or has approved or disapproved of the contents
of this news release.
For further information, please contact:
Investor Relations Contact:
Amato and Partners, LLC
Investor Relations Counsel
212.460.0360
admin@amatopartners.com
Media Contact:
Mauria Betts
Director of Branding and Public Relations
(971) 266-1908
mauria@stemholdings.com
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