On December 15, 2021, consistent with the terms of the Transaction, Salvador Villanueva III submitted his resignation as an officer and director Stem Holdings, Inc. with immediate effect. The Company does not intend to replace him On December 16, 2021, Adam Berk submitted his resignation as an officer and director of the Company with immediate effect. Mr. Berk submitted his resignation to pursue other interests. Concurrent with Mr. Berk's resignation, the board appointed Steven Hubbard as Interim President, all with immediate effect. Hubbard has served as Chief Financial Officer, Secretary and a member of the Board of Directors of the Company since its inception in June 2016. At the same time, the board appointed Robert L.B. Diener to serve as Secretary of the Company to replace Mr. Hubbard in that capacity, with immediate effect.
Stem Holdings, Inc. is a vertically integrated cannabis branded products and technology company. It is engaged in the cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. The Company purchases, leases, operates, and invests in properties for use in the production, distribution and sales of cannabis and cannabis-infused products licensed in the states of Oregon, Nevada, and California. It has ownership interests in over 23 state issued cannabis licenses including nine licenses for cannabis cultivation, three licenses for cannabis processing, two licenses for cannabis wholesale distribution, three licenses for hemp production and cannabis dispensary licenses. Its wholly owned subsidiaries include Stem Holdings Oregon, Inc., Stem Holdings IP, Inc., Opco, LLC, Stem Agri, Inc., Stem Holdings Oregon Acquisitions 1, Corp., Stem Holdings Oregon Acquisitions 2, Corp., and Stem Holdings Oregon Acquisitions 3, Corp.
STEM HOLDINGS, INC. 
