Salvador Villanueva, Jeanette Villanueva and Lisa Chow acquired Driven Deliveries, Inc. from Stem Holdings, Inc. for $8.3 million.
December 16, 2021
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Salvador Villanueva, Jeanette Villanueva and Lisa Chow acquired Driven Deliveries, Inc. from Stem Holdings, Inc. (OTCPK:STMH) for $8.3 million on December 15, 2021. Under the terms of the transaction, Salvador Villanueva, Jeanette Villanueva and Lisa Chow will transfer and relinquish 11.5 million shares of Stem Holdings, Inc. and cancel the remaining balance of a Debenture of $7.1 million owing by Stem Holdings, Inc. to Salvador Villanueva, Jeanette Villanueva and Lisa Chow and all Warrants of Stem Holdings, Inc. held by Salvador Villanueva, Jeanette Villanueva and Lisa Chow. Salvador Villanueva submitted his resignation as an Officer and Director of Stem Holdings, Inc. Stem Holdings, Inc. does not intend to replace Salvador Villanueva. King & Spalding LLP acted as legal advisor to Salvador and Jeanette Villanueva and Lisa Chow.
Salvador Villanueva, Jeanette Villanueva and Lisa Chow completed the acquisition of Driven Deliveries, Inc. from Stem Holdings, Inc. (OTCPK:STMH) on December 15, 2021.
Stem Holdings, Inc. is a vertically integrated cannabis branded products and technology company. It is engaged in the cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. The Company purchases, leases, operates, and invests in properties for use in the production, distribution and sales of cannabis and cannabis-infused products licensed in the states of Oregon, Nevada, and California. It has ownership interests in over 23 state issued cannabis licenses including nine licenses for cannabis cultivation, three licenses for cannabis processing, two licenses for cannabis wholesale distribution, three licenses for hemp production and cannabis dispensary licenses. Its wholly owned subsidiaries include Stem Holdings Oregon, Inc., Stem Holdings IP, Inc., Opco, LLC, Stem Agri, Inc., Stem Holdings Oregon Acquisitions 1, Corp., Stem Holdings Oregon Acquisitions 2, Corp., and Stem Holdings Oregon Acquisitions 3, Corp.
STEM HOLDINGS, INC. 
