BOCA RATON, Fla., March 08, 2022 (GLOBE NEWSWIRE) — Stem Holdings, Inc. (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem”)a vertically integrated cannabis operator, today announced the appointment of Daryl Simon and Rajiv Rai to its Board of Directors effective March 4, 2022.
Daryl Simon is an entrepreneur, philanthropist, and lifelong advocate for the arts and education. As an entrepreneur, Mrs. Simon has built brands and led businesses in various capacities, including business development, marketing, and sales across international markets.
Prior to joining the Board, Mrs. Simon was an Advisory Board Member at Stem. Previously, Mrs. Simon was a Director at The Hain Celestial Group, Inc., a global pioneer and leading organic and natural products company with operations in North America, Europe, and India with best-in-class brands including Celestial Seasonings®Earth’s Best®Sensible Portions®Terra® Chips, Imagine®JASON®Avalon Organics®and Alba Botanica®. At Hain Celestial, Mrs. Simon was responsible for the Company’s international business development and global expansion into Asia, including India, the Middle East, and Latin America including Mexico. Today Hain Celestial Group is $2.7 billion in net sales, and international sales represent approximately 40% of the Company’s business. Prior to Hain Celestial, Mrs. Simon helped build international apparel companies, including Cherokee Inc., Unique Clothing Company, Memphis Apparel, and the Haggar Clothing Company.
Mrs. Simon’s passion for advocacy in education and arts includes working with the Stephen Gaynor School, the Riverdale Country Day School, The Bowery Mission, the New York Rita Hayworth Gala, VIA Art Fund, and the creator of FORK IT, an annual event and fundraiser for the Alzheimer’s Association. Mrs. Simon lives in New York City with her husband, Irwin, Chairman and CEO of Tilray, and their four children.
Rajiv Rai is currently the President of R3 Concepts Inc, Special Advisor to the Chairman at Rogers Communications, member of the Board of Directors of CONSTANTINE Enterprises Inc., and Co-Founder of the Board of Directors for the ONEXONE Foundation. Mr. Rai previously held the position of Managing Director for E.S. Rogers Enterprises, Vice President of Business Development at Keek, Inc., Founder and Vice President of Fastvice, Inc., and Director of Development at C.O.R.E Feature Animation. Mr. Rai is an executive with over 20 years of extensive experience in business development, revenue generation, partnership development, strategic management services, business processes assessment and advisory services.
Steve Hubbard, Interim CEO and CFO of Stem, commented, “Strengthening the Board of Directors with the experience and industry knowledge of Mrs. Simon and Mr. Rai is in the best interest of all of our shareholders. Mrs. Simon and Mr. Rai have joined our board at a pivotal time. Each has valuable experience to assist the Company as we continue to implement our refocused business strategy.”
About Stem Holdings, Inc.
Stem is a multi-state, vertically integrated, cannabis company that, through its subsidiaries and its investments, is engaged in the cultivation, processing, packaging, distribution and branding of cannabis, hemp and their derivatives, including oils, edibles, concentrates. Additionally, the Company purchases, improves, leases, operates, and invests in properties for use in the production, distribution and sales of cannabis and cannabis-infused products licensed under the laws of the states of Oregon, Nevada, California, and Massachusetts. As of December 31, 2021, Stem had ownership interests in 24 state issued cannabis licenses including nine (9) licenses for cannabis cultivation, three (3) licenses for cannabis processing, two (2) licenses for cannabis wholesale distribution, three (3) licenses for hemp production and seven (7) cannabis dispensary licenses.
Forward-Looking Statements
This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and expectations with respect to the future business, operations, , and phrases containing words such as “ongoing”, “estimates”, “expects”, or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions “will”, “may”, “could”, or “should” occur or be achieved, or comparable terminology referring to future events or results. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
+1 212.896.1254
valter@kcsa.com
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
