Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws. Stem's expertise and scale will drive growth domestically and internationally with a continuing commitment to social responsibility and shareholder equity as a leader in the cannabis industry.ĬAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Stem's award-winning owned and partner-brands including TJ’s Gardens™ and Yerba Buena™ are the foundation of the Company’s expansion within current as well as new segments and markets, with exceptional and disruptive brands, and products that benefit well-being. with proprietary capabilities in sustainable cultivation, processing, extraction, and R&D, as well as retail and distribution operations aligned with state-by-state regulations. (OTCQX:STMH CSE:STEM) is a leading cannabis and hemp branded products company in the U.S. Copies of the Supplemental Indentures will be available on the Company’s profile on SEDAR. The issuing of the Warrants and the repricing of the Convertible Debentures, the Debenture Amendments, have been implemented pursuant to the terms of supplemental indentures entered into between the Company and Olympia Trust Company dated as of the date hereof (the “ Supplemental Indentures”). The Debenture Amendments have been approved by the CSE. Share purchase warrants of the Company will be issued in connection with this repricing (the “ Warrants”) at 167 common share warrants for each $1,000 Debenture Unit held priced at C$0.20 per Common Share (as defined herein) and the convertible debentures of the Company issued in connection with the financing (the “ Convertible Debentures”) will be repriced to C$0.10 per Common Share (the “ New Conversion Price”).Īdditionally, the Debentureholders have approved the following amendments to the terms of the Convertible Debentures: (i) an extension to the maturity date of the Convertible Debentures for three years and (ii) an amendment to permit the Company to force the conversion of the principal amount of the then-outstanding Convertible Debentures and any accrued and unpaid interest thereof at the New Conversion Price on not less than 30 days prior written notice if the closing trading price of the shares of common stock of Stem (the “ Common Shares”) exceeds C$0.80 for a period of ten (10) consecutive trading days on the CSE (collectively, the “ Debenture Amendments”), (iii) this Debenture Amendment, provides for the payment of 5% of the principal amount. (OTCQX: STMH, CSE: STEM) (the “ Company” or “ Stem”), a leading vertically-integrated cannabis and hemp branded products company with state-of-the-art cultivation, processing, extraction, retail, and distribution operations, is pleased to announce that the Company has received the approval of the holders (the “ Warrantholders”) of the Warrants (as defined herein) and the holders (the “ Debentureholders”) of the Convertible Debentures (as defined herein) to reprice the convertible securities issued in connection with the Company’s special warrant financing, which matured on Jand will mature September 14, 2022. BOCA RATON, Fla., J(GLOBE NEWSWIRE) - Effective June 27, 2022, Stem Holdings, Inc.
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