Such factors include, but are not limited to: general business, economic and social uncertainties litigation, legislative, environmental and other judicial, regulatory, political and competitive developments delay or failure to receive board or regulatory approvals those additional risks set out in the Company’s public documents filed on SEDAR at and other matters discussed in this news release. Uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, Forward-looking statements in this news release include, but are not limited to, statements with respect to the terms and conditions of the proposed Offering the Company’s objectives, goals or future plans the receipt of the requisite approvals with respect to the Offering and the business and operations of the Company following the completion of the Offering. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. As of June 30, 2022, Stem had ownership interests in 23 state issued cannabis licenses including nine (9) licenses for cannabis cultivation, three (3) licenses for cannabis processing, two (2) licenses for cannabis wholesale distribution, three (3) licenses for hemp production and (6) cannabis dispensary licenses.Īdditional information about the Company can be viewed on SEDAR, the Canadian disclosure filings website at For further information regarding the above, contact the Company using the information set forth below.Ĭautionary Statements Regarding Forward-Looking Information: 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 Oregon, Nevada, and California. 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. The Warrants and Warrant Shares will be subject to a hold period of four months and one day from the date of closing of the Offering in accordance with applicable Canadian securities laws. The net proceeds from the issuance will be used for working capital and for general corporate expenses. Each Warrant entitles the holder thereof to purchase one (1) common share (“ Warrant Share”) at a price of USD$0.05 for a period of thirty-six (36) months after closing of the Offering.
The Company may prepay the outstanding principal amount of the Note together with all accrued and unpaid interest, without penalty, at any time prior to the maturity date of the Note. The Note bears interest at rate of 10% per annum payable at maturity. The Note terms provide for it to become due and payable in three months, subject to extension by the Company for an additional three months upon payment of a USD$5,000 extension fee to the lender. The Offering is expected to close on November 11, 2022. (OTCQX: STMH) (CSE: STEM) (the “ Company” or “ Stem”), a vertically integrated cannabis operator, is pleased to announce that the Company intends to complete a private placement of a USD$250,000 unsecured promissory note (the “ Note”) and 250,000 common share purchase warrants (the “ Warrants”) to an arm’s length lender (the “ Offering”). 10, 2022 (GLOBE NEWSWIRE) - Stem Holdings, Inc.
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