Stem Holdings Inc., Receives License For Newly Constructed Cannabis Cultivation Facility in Oregon
November 06 2018 - 9:00AM
Stem Holdings Inc. (OTCQB: STMH CSE: STEM), (the “Company” or
“Stem”) a cannabis real estate company specializing in acquiring
and improving properties within the cannabis industry has received
a license from the State of Oregon, Oregon Liquor Control
Commission (OLCC) for its newly constructed cannabis facility in
Springfield, Oregon.
“Stem is excited to unveil its center for
cutting-edge cultivation in the state of Oregon,” says CEO Adam
Berk. “Our team has designed this property for highly efficient,
craft cannabis production. We have carefully considered every
detail, from plant propagation and cultivation to product
distribution.”
The 28,000 square foot property will provide
10,000 square feet of space dedicated to sustainable, indoor
cannabis cultivation. The building features eight, 1,100 square
foot, clean grow rooms that will utilize cutting-edge lighting and
ventilation systems. The grow rooms will collectively produce over
2,500 pounds of cannabis flower annually. Two additional spaces
will be dedicated to research and development of new cannabis
strains. An on premise plant tissue culture laboratory will allow
Stem’s operators to utilize advanced propagation technology. The
laboratory will produce a continuous supply of plant strains
derived from award-winning genetics. Streamlined cannabis
processing and packaging will be achieved through the use of a dry
room, a curing room, a space for processing harvested cannabis
material and a loading dock.
The property will be leased to Stem’s partner
operators, TJ’s Gardens and Yerba Buena. Both licensed cultivators
are renowned growers of craft cannabis in Oregon. TJ’s Gardens has
been recognized for the “Best Tasting Bud on Earth” by High Times
Magazine. Yerba Buena is the first cannabis company to receive the
100 Best Green Companies award by Oregon Business Magazine, winning
in both 2017 and 2018, placing 9th and then 6th respectively across
all industries.
“Operating within this well-designed building
will solidify our position as a premiere cultivator in the Oregon
market,” says James Orpeza, co-founder of TJ’s Gardens. “This
world-class facility will enable our team to rapidly innovate
within the cannabis industry while providing consistent,
high-quality products to our customers.”
About Stem Holdings Inc.
Stem has positioned itself as a leader in the
U.S. cannabis industry by building state-of-the-art cannabis
licensed solutions that include: cultivation, processing and retail
properties across multiple U.S. markets. As an innovative company,
Stem acquires and improves properties for cannabis industry
operators and provides turn-key solutions for vetted,
marijuana-based businesses including but not limited to marijuana
and hemp cultivation, extraction, infused products and processing.
These cannabis companies have developed an extensive portfolio of
award-winning, consumer-facing brands such as TJ’s Gardens, Yerba
Buena®, 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, (iii) expectations for other economic, business,
and/or competitive factors, and (iv) anticipated production
volumes.
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,
LLCInvestor Relations
Counsel212.460.0360admin@amatopartners.com
Media Contact:Mauria BettsDirector of Branding
and Public Relations(971) 266-1908mauria@stemholdings.com
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