BOCA RATON, March 18, 2019 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. (OTCQB: STMH CSE: STEM) (the “Company” or “Stem”), a vertically-integrated cannabis company, is proud to announce that the Company’s facility, TJ’s on Powell, received a license and final approval from the Oregon Liquor Control Commission to operate its newest dispensary location in Portland, Oregon.
“Launching retail operations in the Portland market secures a significant foothold in the Oregon cannabis market,” says Stem’s CEO, Adam Berk. “We are excited to utilize this dispensary as a strategic prototype for retail strategies to be implemented across the U.S.”
The new dispensary is located on Powell Boulevard, a busy corridor that boasts an average daily traffic count of over 29,000 cars. The Portland destination will feature an in-house coffee shop that will serve hemp derived CBD coffee and tea to neighborhood patrons and daily commuters. Stem has completed significant renovations to this retail location including updated ADA access, structural improvements, exterior enhancements, a contemporary interior, and a state-of-the-art security system.
The Company has decided to name the dispensary, “TJ’s on Powell”. TJ’s currently operates two other prominent dispensaries in the city of Eugene, Oregon. TJ's on Powell will offer a curated selection of craft cannabis products including the Company's brands Cannavore Edibles, Dose-ology CBD, Travis X James and Yerba Buena Flower.
The address of the new dispensary is:
TJ’s on Powell
7827 SE Powell Blvd.
Portland, Oregon 97206
Stay up to date on Stem’s multi-state expansion by visiting it website at stemholdings.com.
About Stem Holdings, Inc.
As a vertically integrated cannabis company, Stem has positioned itself as a pioneer in the industry with its state-of-the-art cultivation, processing, extraction, retail, and distribution operations. Stem owns cannabis facilities in Nevada, Oklahoma, and Oregon, and also participates in a research project in collaboration with Cornell University. Utilizing proprietary, sustainable cultivation techniques, Stem develops exceptional products that are safe and consist of lab-tested cannabis and CBD. Stem’s partner consumer brands are award-winning and nationally known, and include: cultivators, TJ's Gardens and Yerba Buena; retail brands, Stem and TJ's; infused product manufacturers, Cannavore and Supernatural Honey; and a CBD company, Dose-ology. Stem’s mission in supporting the health and happiness of people and the safety of our planet is evident through the Company's continued recognition for its community involvement, employee diversification and a top place to work in cannabis, dedication to environmental causes and outstanding leadership in the cannabis industry.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the management of Stem with respect to future business activities. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and include information regarding: (i) the ability of the Company to successfully achieve its business objectives, (ii) product offerings at the Portland dispensary, (iii) expectations for other economic, business, and/or competitive factors, and (iv) anticipated development and growth of Stem’s partner brands.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the management of Stem’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Stem believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in the public perception of cannabis; decreases in the prevailing prices for cannabis and cannabis products in the markets that the Company operates in; adverse changes in applicable laws; or adverse changes in the application or enforcement of current laws, including those related to taxation; the inability to locate and acquire suitable companies, properties and assets necessary to execute on the Company’s business plans; and increasing costs of compliance with extensive government regulation. This forward-looking information may be affected by risks and uncertainties in the business of Stem and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Stem has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Stem does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
No securities regulatory authority has in any way passed upon the merits of the proposed transactions described in this news release or has approved or disapproved of the contents of this news release.
For further information, please contact:
Media Contact:
Mauria Betts
Director of Branding and Public Relations
(971) 266-1908
mauria@stemholdings.com