Stmh stock7/27/2023 Launch production and national distribution of customized medically-directed CBD products under the Apex licensing partnership, beginning with Hi-Tec® and Everyday California® brands. Increase Nevada production capacity and distribution, including expanding cultivation for Travis x James cannabis flower and pre-rolls, and expanding production for its edibles line through its licensing partnership with Gron. Stem will establish retail stores across the state and sell its owned and partner award-winning brands. Initial use of funds is expected to include:Įxpansion into a limited supply, Massachusetts cannabis market. The Investment will allow Stem to accelerate currently identified opportunities and provides additional capital to pursue opportunities to execute the Company’s growth strategy. (OTCQB: STMH CSE: STEM) (the “ Company” or “ Stem”), a leading vertically-integrated cannabis and hemp company with state-of-the-art cultivation, processing, extraction, retail, and distribution operations, is pleased to announce that it has entered into a stock purchase agreement with Attollo Capital Holdings A, LLC (the “ Purchaser”) pursuant to which Stem will issue 11,764,706 shares of preferred stock of the Company (the “ Preferred Stock”) at a purchase price of US$0.85 per share of Preferred Stock (the “ Original Issue Price”) for gross proceeds to the Company of approximately US$10,000,000 (the “ Investment”).Ĭlosing of the Investment is expected to occur immediately following satisfaction of customary closing conditions. BOCA RATON, Fla.-( BUSINESS WIRE)-Stem Holdings, Inc.
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