Dear Shareholders,
I, along with our Board of Directors, which now includes two newly appointed members,
Although this letter is to focus on Stem, its current status and our strategy going forward, I also would like to provide a brief introduction of myself. To begin, I co-founded Stem in 2016. Prior to that, I held many corporate leadership roles over the past 4 decades, many of which were keenly focused on investing capital, structuring, and funding public/private companies. Additionally, I have extensive experience in business combinations and valuations, mergers and acquisitions, reverse mergers, revenue recognition, equity-based compensation, initial public offerings, secondary offerings, debt offerings, and REIT compliance. I also have expertise in the Sarbanes-Oxley Act of 2002, including internal controls under Section 404 and many of the significant issues facing
At this time, the Company is vertically integrated with 4 cultivation locations in
At retail we have five locations under the TJ’s brand (one in
Our
We have already begun to take the necessary measures operationally to ensure that we provide our consumers with the highest quality product in the
As we move forward, we remain in active discussions to monetize the Companies assets outside of
I am extremely honored to serve in the roles as CEO, and CFO for Stem. I, along with the Board of Directors, look forward to implementing our various strategies and continuing to provide our shareholders with updates on our progress going forward.
Sincerely,
President, CEO and CFO
About
Stem is a multi-state, vertically integrated, cannabis company that, through its subsidiaries and its investments, is engaged in the cultivation, processing, packaging, distribution and branding of cannabis, hemp and their derivatives, including oils, edibles, concentrates. Additionally, the Company purchases, improves, leases, operates, and invests in properties for use in the production, distribution and sales of cannabis and cannabis-infused products licensed under the laws of the states of
Forward-Looking Statements
This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and expectations with respect to the future business, operations, expected financial position as a result of the divestiture of Driven Deliveries, and phrases containing words such as “ongoing”, “estimates”, “expects”, or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions “will”, “may”, “could”, or “should” occur or be achieved, or comparable terminology referring to future events or results. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Investor Contact:
+1 212.896.1254
valter@kcsa.com
Media Contact:
Director of Branding and Public Relations
971.266.1908
mauria@stemholdings.com
Source:
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