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, has
received final approvals from the authorities necessary to complete
construction for its newest dispensary location in Portland,
Oregon.
The new dispensary is a 1,300 square foot
building ideally situated right on a busy commuting corridor.
Work will begin immediately, and the renovation will include,
structural improvements, modern interior design, exterior
landscaping and improved ADA access. An advanced security system
will be installed to ensure the safety of customers, employees, and
products.
Upon the completion of construction (anticipated
to be finished in approximately two months), Stem will lease the
location to award-winning cannabis operator TJ’s Gardens and the
dispensary will hold the name of “TJ’s on Powell”. TJ’s Gardens
currently operates two other reputable licensed cannabis
dispensaries in the city of Eugene, Oregon. “Both TJ’s on
Willamette and TJ’s Provisions are known for offering a welcoming
environment and providing the best customer experience whether
you’re a first-time customer or knowledgeable cannabis consumer,”
says TJ’s Gardens’ co-founder, Travis MacKenzie. “We are
excited to bring our dispensary concept to Portland,” exclaimed
James Orpeza, co-founder of TJ’s Gardens.
In light of legalization in 2015 combined with
the exponential increase in population in Oregon (specifically, in
Portland), Oregon’s cannabis market has also experienced
significant growth in recent years, but particularly in this past
calendar year. Per the Oregon’s Department of Revenue, for the
month of July 2018, the state collected $8.57 million in sales tax.
This total amount represents a 66% increase in state tax revenue
compared to July 2017.
“We are excited to be launching a destination
dispensary in the city of Portland,” says Stem’s CEO Adam Berk.
“This retail location will help position our partners, TJ’s Gardens
to better capture a much larger share of Oregon’s cannabis market
and its consumers.”
TJ’s on Powell will also serve as a hub for
community building and education as there are plans to host events
to be held in a separate, dedicated event space area outside the
dispensary. "Our ultimate mission is multi-faceted in that we
strive to sell the highest-quality cannabis while being a dedicated
and active participant of the community contributing to the overall
well-being of each neighborhood we serve.” says MacKenzie
The address of the new dispensary is:TJ’s on
Powell7827 SE Powell Blvd.Portland, Oregon 97206
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 compliant, 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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