Stem Closes Agreements To Sell Cannabis License In Massachusetts For $1.65M

Stem Holdings, Inc. STMH STEM, a vertically integrated cannabis multi-state operator, closed a stock purchase and note purchase agreement to sell its minority equity ownership interest in its Massachusetts cannabis license for a total of $1.65 million in cash on April 13, 2022.

Matthew Cohen, CEO and CFO of Stem Holdings, stated, “We are pleased to have closed on the purchase of our equity stake in Massachusetts, providing us with further working capital, which enables our company to continue to successfully execute on our restructuring plan and focus our resources on all Oregon locations and the dispensary in Sacramento, California. We are evaluating other options to monetize non-core assets to strengthen our working capital as well as our balance sheet.”

Photo: Courtesy of Diyahna Lewis on Unsplash

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Posted In: CannabisNewsPenny StocksMarketsMatthew Cohen

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