BOCA RATON, Oct. 10, 2018 – PRESS RELEASE – Stem Holdings Inc. has announced the execution of definitive agreements for the acquisition of Yerba Buena, signed Oct. 8, 2018, an award-winning Oregon cannabis brand, pending Oregon Liquor Control Commission’s (OLCC) approval.
Under the terms of the agreement, Stem will acquire from Yerba Buena all the assets comprising Yerba Buena’s business and assume the related liabilities. The consideration to be paid by Stem includes: (i) US$350,000 in cash payable on closing; (ii) a US$400,000 non-negotiable promissory note (iii) US$3.86 million in common share of Stem to be issued in two tranches, with US$1.58 million to be issued on closing at the then prevailing market price and US$2.28 million to be issued in June 2019 at the then prevailing market price. Closing of the transaction is expected to occur in January 2019 and is subject to regulatory approvals.
The 29-acre Yerba