Stem Holdings, Inc. Announces Clarification Regarding Effective Date of Reverse Share Split on the Canadian Securities Exchange

Rhea-AI Summary

Stem Holdings, Inc. (OTC Pink: STMH CSE: STEM) announces a clarification regarding the effective date of the reverse share split previously announced on February 1, 2024. The shares of common stock of the Company will commence trading on a post-consolidated basis on February 6, 2024. Any trades of Common Shares on the CSE prior to February 6, 2024 will be reflected on a pre-consolidated basis. No additional action is required from investors with deposited common stock of the Company.

BOCA RATON, FL, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. (the “Company” or “Stem”) (OTC Pink: STMH CSE: STEM), a vertically-integrated cannabis branded products and technology company, at the request of CIRO, announces today a clarification with respect to the effective date, for the purposes of the Canadian Securities Exchange (the “CSE”), of the reverse share split previously announced on February 1, 2024.

For the purposes of trading on the CSE, the Company is pleased to announce that the shares of common stock of the Company (the “Common Shares”) will commence trading, on a post-consolidated basis, at market open on February 6, 2024. Any trades of Common Shares on the CSE prior to February 6, 2024 will be reflected on a pre-consolidated basis.

There is no additional action required from investors with deposited common stock of the Company.

Company shareholders needing to contact the transfer agent should submit and online ticket at https://odysseytrust.com for service.

About Stem

Stem is a vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail and distribution operations in the United States. 

Cautionary Note Regarding Forward-Looking Information

This press release contains statements that 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. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the management of Stem 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; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; and changes or delays resulting from third-parties and regulators which are outside of the Company’s control. 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 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.

Media Contact:
Regina A. Costa
Director of Public Relations
561-948-5410
Regina.costa@stemholdings.com

What is the effective date of the reverse share split announced by Stem Holdings, Inc.?

The effective date of the reverse share split announced by Stem Holdings, Inc. is February 6, 2024.

Where can investors contact the transfer agent for Stem Holdings, Inc.?

Investors needing to contact the transfer agent for Stem Holdings, Inc. should submit an online ticket at https://odysseytrust.com for service.

What is the ticker symbol for Stem Holdings, Inc. on the OTC Pink and CSE?

The ticker symbol for Stem Holdings, Inc. is STMH on the OTC Pink and STEM on the CSE.