Opening of a new dispensary in Kalamazoo
Statewide Budee â¢ Home Delivery Launched to Bring Leading Brands and Products to the Michigan Market
BOCA RATON, Florida, April 28, 2021 / PRNewswire / – Stem Holdings, Inc. d / b / a driven by Stem (OTCQX: STMH) (CSE: STEM) (the “Company” or “Rod“), the world’s first omnichannel, vertically integrated Farm-to-Home â¢ (F2H) multi-state cultivation and technology cannabis company with a proprietary Delivery-as-a-Service (DaaS) marketplace platform , announced today that it has partnered with Organic Guyz, a Michigan cannabis company, to open its brand new dispensary in the heart of Kalamazoo, Michigan in June. In addition, Stem will showcase its Budee e-commerce and delivery platform for the first time in the Midwest, to serve the entire state of Michigan with future expansion plans in adjacent markets.
Stem is a Farm-to-Home â¢ multistate operator with dispensaries in three other states. This will be the second Stem-branded dispensary in the country. Acquisition by Stem of Driven Deliveries in December 2020 added Budee’s omnichannel technology to its existing retail operations, enabling Stem to deliver 92% of California residents with plans to expand to other states, including Michigan. Stem chose to expand to Michigan due to the increased demand for home delivery in this state due to the expansion of the cannabis market, which has doubled in the past 12 months.1
“We have targeted Michigan as a growth market for Stem, recognizing the 179% increase in sales last year.2 This remains an underserved opportunity and we are excited to be working with Organic Guyz to offer the best range of products available in the state, âsaid Adam berk, CEO of Stem. “Cannabis sales of $ 1.2 billion are projected in Michigan next year, including recreational and medical cannabis,3 and we are uniquely positioned to serve this market based on our operational experience, “he continued.” Together we are building a new dispensary as a first step in our plan there. Our ability to deliver the customer experience demanded by cannabis connoisseurs will allow us to quickly enter the market by Kalamazoo which only has 22 dispensaries and delivers locally and statewide to meet this growing demand with our Budee platform, âhe concluded.
Stem grows cannabis and hemp at its facilities on the west coast, and its family of brands includes flowers, pre-roll products, edibles, concentrates and tinctures with disruptive new products launched this year as Stem broadens the footprint of its brands.
âWe are delighted to be working with the Stem team and we share their passion and commitment to quality and service,â said Concetta Mazzetti, Head of Operations at Organic Guyz. âStem’s proven success in other markets and its dynamic approach to cannabis were key factors in our decision to move forward together,â she concluded.
The new Stem dispensary will be over 2,500 square feet and will be located on Portage Street, conveniently located near major roads. There is sufficient parking for delivery drivers as this will be one of our main delivery centers for the state. An integrated marketing effort is planned for the grand opening which is slated to take place in the summer of 2021.
About Stem Holdings, Inc.
Stem is a leading omnichannel and vertically integrated cannabis branded products and technology company with cultivation, processing, extraction, retail, distribution and Delivery as a Service (DaaS) operations at the cutting edge technology. United States. Stem’s award-winning family of brands include TJ’s Gardens â¢, TravisxJames â¢ and Yerba Buena â¢ flowers and extracts; Cannavore â¢ Edible Confectionery; Doseology â¢, a consumer CBD brand launched in 2021; as well as the DaaS Budee â¢ and Ganjarunner â¢ brands through the acquisition of Driven Deliveries. The Budee â¢ and Ganjarunner â¢ e-commerce platforms provide direct-to-consumer proprietary logistics and omnichannel UX (user experience) / CX (customer experience).
This press release contains forward-looking statements and information which are based on the beliefs of management and reflect the current expectations of the company. When used in this press release, the words âestimateâ, âplanâ, âbelieveâ, âanticipateâ, âintendâ, âexpectâ, âplanâ, âanticipateâ, âMayâ or âshouldâ and the negation of these words or such variations or comparable terminology is intended to identify forward-looking statements and information. The forward-looking statements and information contained in this press release include information relating to: (i) the implementation of the Company’s business plan; (ii) the expected expansion of Michigan cannabis market; (iii) the planned opening of a dispensary in Michigan and the delivery activities planned in that state; and (iv) the potential expansion of delivery activities in neighboring states.
By their nature, forward-looking statements involve risks, uncertainties and other known and unknown factors which may cause our actual results, performance or achievements, or other future events, to be materially different from the results, performance or performance. or future achievements expressed or implied by these forward-looking statements. These factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and related matters, risks associated with the cannabis industry, competition, regulatory changes, the need for additional funding, dependence on key personnel, the potential for conflicts of interest between certain officers or directors, insurance, intellectual property and reliable supply chains; and risks associated with the company and its activities in general. Forward-looking statements are made based on the beliefs, estimates and opinions of management at the date the statements are made, and the Company assumes no obligation to update forward-looking statements if such beliefs, estimates and opinions or other circumstances had to change. Investors are cautioned against assigning undue certainty to forward-looking statements.
For more information, please contact:
STEM HOLDINGS, INC.
Valter Pinto / Elizabeth Barker
212.896.1254 / 212-896-1203
1 Source: https://www.metrotimes.com/detroit/michigans-legal-marijuana-industry-hits-record-sales-buoyed-by-new-products/Content?oid=26891892
2 Source: https://www.newcannabisventures.com/michigan-cannabis-sales-soar-179-to-record-146-million-in-march/
3 Source: https://www.mlive.com/public-interest/2021/04/michigan-marijuana-sales-break-1-billion-pace-insiders-expect-record-breaking-april.html
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SOURCE Stem Holdings, Inc.