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.
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 firstname.lastname@example.org Media Contact: Mauria Betts Director of Branding and Public Relations (971) 266-1908 email@example.com