BOCA RATON, FL, Sept. 15, 2020 (GLOBE NEWSWIRE) — Stem Holdings, Inc. (“Stem”) (OTCQX: STMH CSE: STEM), a leading vertically-integrated cannabis and hemp branded products company with state-of-the-art cultivation, processing, extraction, retail, and distribution operations throughout the United States, announced today the launch of its Cannavore™ brand of cannabis-infused edibles hand-crafted in small batches with solventless THC extract.
The Company test-marketed the Cannavore brand with great success and is launching a full line of edibles beginning with salted caramel chews that deliver a five-milligram dose of THC in every candy. The THC extract is solventless, using a natural bubble-hash wash to extract the THC rather than using chemical solvents, ensuring great taste with no residue. According to BDS Analytics, the market for edibles in Oregon increased 21% in the most recent 12-month period.“Cannavore is a new brand for the company, which test-marketed well in both Nevada and Oregon,” stated Adam Berk, CEO of Stem Holdings. “We plan to launch our edibles in all markets in which Stem operates, meeting demand for consumers who prefer edibles to other forms of dosing,” he commented.“Stem has built a new commercial kitchen as it prepares to further extend its footprint in the edibles market with unique, on-trend products, in addition to our leading flower brands,” Berk continued. “Demand for solventless extracts is strong in Oregon, and we are only using solventless forms in all of our current edible products,” stated Berk. “Cannavore is a great choice for every day and special occasion usage, and the brand was honored during its testing stage as one of ‘Twenty-One Brands to Watch’ by High Times Magazine”, he concluded.About Stem Holdings, Inc.Stem Holdings, Inc. (OTCQX: STMH CSE: STEM) is a leading cannabis and hemp branded products company in the U.S. with proprietary capabilities in sustainable cultivation, processing, extraction, and R&D, as well as retail and distribution operations aligned with state-by-state regulations. Stem’s award-winning brands are the foundation of the Company’s expansion into current and new segments and markets, with exceptional and disruptive brands and products that benefit well-being. Stem’s expertise and scale will drive growth domestically and internationally, building value for shareholders.Cautionary Note Regarding Forward-Looking InformationThis 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) plans for expansion of Stem, (iii) expectations for other economic, business, and/or competitive factors, and (iv) anticipated growth.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
STEM HOLDINGS, INC.
[email protected]
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