Stem Holdings Inc., Strengthens Craft Cannabis Portfolio Through the Acquisition of the Assets of Yerba Oregon, LLC d/b/a Yer...
October 09 2018 - 8:00AM
Stem Holdings Inc. (OTCQB: STMH CSE: STEM) (the “Company” or
“Stem”), is pleased to announce the execution of definitive
agreements for the acquisition of Yerba Buena, an award-winning
Oregon cannabis brand, pending Oregon Liquor Control Commission’s
(OLCC) approval.
“Oregon is home to one of the most competitive
cannabis markets in the country. Yerba Buena’s success in the
Pacific Northwest demonstrates their ability to strongly execute
large-scale cultivation operations while maintaining a consistent,
high-quality product,” said Stem’s CEO Adam Berk.
Upon OLCC approval, the acquisition of Yerba
Buena directly supports Stem’s plans for nationwide expansion.
While Stem’s operational affiliates have developed partnerships
with a number of widely recognized cannabis brands and licensees
across the country, the acquisition of Yerba Buena solidifies
Stem’s commitment to providing shareholder value through strategic
mergers and acquisitions within the cannabis space.
“This transaction with Stem is an opportunity
for Yerba Buena’s cannabis to reach more consumers in Oregon while
promoting our platform of sustainable and progressive labor
practices on a broader scale,” says Preston Greene, General Manager
of Yerba Buena. “Stem shares our mission, as we look forward to
setting the industry standard for best business practices and
sustainable cannabis products achieving the ultimate goal of
creating a multi-national footprint,” says Laura Day, Director of
Operations.
Yerba Buena is widely recognized as a cannabis
industry leader in stewardship and cultivation. Led by its
management team of respected industry experts and composed of a
first-in-class staff, Yerba Buena is one of the only cannabis farms
in the country to hold both Clean Green™ and Certified Kind
responsible agriculture credentials. Yerba Buena delivers
naturally-grown products that have garnered numerous industry
awards including, the Best Indoor Grow by the Dope Industry Awards,
Best Cannabis Farm in Portland two years running, Best Sativa at
the Oregon Dope Cup, and Best CBD strain at the Cultivation
Classic.
Yerba Buena has also been honored for their
exemplary workplace practices. Its cultivation facility was the
first cannabis company to ever 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. Yerba
Buena is committed to building a diverse workforce as women make up
half of the business’s employee base, as well as people of
diversity comprise a third of the staff.
“As we continue to expand into other states and
markets, partnering with experienced leaders holding similar values
as Stem is key to our success,” says Berk. “Together, we will
continue to build one of the country’s most prosperous and
sustainable cannabis cultivation brands.”
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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 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 edibles,
marijuana and hemp cultivation, extraction, and
processing. These cannabis companies have 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.
About Yerba Buena
Yerba Buena is one of the world’s finest and
most innovative cannabis companies. It created a diverse and
inclusive work environment where individuals can thrive sharing in
the business’ success and passion within the communities and the
planet they serve.
Yerba Buena is on the board of the Cannabis
Certification Council, a non-profit entity that focuses on
promoting awareness for organic cannabis, creating a standard for
organic cultivation methods, and fair labor standards in the
cannabis industry. Additionally, Yerba Buena is on the Technical
Advisory Council (TAC) for the Research Innovation Institute (RII),
an international organization setting standards and supporting the
innovation of new sustainable technologies. Yerba Buena is also on
the board of the Oregon Cannabis Association (OCA), the only
statewide organization devoted to protecting and promoting the
interests of the Oregon cannabis industry to state legislators. For
more information, visit www.yerbabuena.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined
in applicable securities legislation. These statements, which
express management's current views concerning future events,
trends, contingencies or results, appear at various places in this
press release. Any statement addressing future events or conditions
necessarily involves inherent risk and uncertainty. Actual results
can differ materially from those anticipated by management at the
time of writing due to many factors, the majority of which are
beyond the control of Stem and its management. In particular, this
news release contains forward-looking statements pertaining,
directly or indirectly, to the following: Stem's transaction with
Yerba Buena and the timing for closing thereof, business operations
and strategies, and the expectation and timing for regulatory
approvals. Readers are cautioned that the foregoing list of factors
should not be construed as exhaustive. These statements speak only
as of the date of this release. Stem undertakes no obligation to
publicly update or revise any forward-looking statements except as
expressly required under applicable securities laws.
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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