Budee™ provides easy access to best-selling cannabis products with express delivery in 60 minutes or less across Greater Metro Portland, to be followed by the Eugene Metro in October
Oregon is Budee’s first expansion market outside of California where it services 92% of the state’s population
BOCA RATON, Fla., Aug. 09, 2021 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. d/b/a Driven By Stem, (OTCQX: STMH) (CSE: STEM) (the "Company" or "Stem"), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today announced the official launch of its cannabis e-commerce and delivery platform in Oregon under its Budee™ proprietary brand. Consumers can order on www.shopbudee.com, or http://www.visittjs.com, Stem’s dispensary platform, for the full product line-up and, where available, express delivery in 60 minutes or less.
Budee will operate across Greater Metro Portland, offering a broad range of best-selling products, available through reliable, same-day and scheduled next-day delivery service. Additionally, Budee is anchored by Stem’s local TJ’s on Powell dispensary, recognized for its curated products including flower, pre-roll, concentrates and edibles, as well as non-cannabis gear. Beyond the Portland market, Budee will roll out across the remainder of the state over the next year, starting with the city of Eugene in October.
Budee currently operates in California, where it can service over 92% of the state’s population, and Oregon represents its first expansion market. The demand for cannabis products in Oregon experienced a significant acceleration in 2020 due to the COVID-19 pandemic with sales in the state eclipsing the $1 billion milestone. Additional new expansion markets, including Michigan, are planned for this year, with the anticipated opening of Stem’s newest dispensary in Kalamazoo in early September.
“Budee offers a unique customer solution in cannabis delivery,” stated Adam Berk, Chief Executive Officer of Stem. “Our team has leveraged our expertise in delivery solutions to execute our Farm-to-Home strategy. From our cultivation and extraction labs, our commercial kitchen, and our wholesale and retail operations, we now connect market-leading cannabis brands with our own branded products direct-to-consumer. We aim to provide a consistent and personalized experience comparable to visiting a dispensary, but with the convenience and privacy of a best-in-class delivery service.”
Mr. Berk continued, “The explosive growth of e-commerce during the COVID-19 pandemic has had a lasting impact on customer demand for delivery services, and the cannabis industry is no exception, with the delivery sub-market expected to be the highest and fastest growing stream in the market1. Including Budee in our operating model allows for deep integration of our unique e-commerce and logistics capabilities, which has significantly enhanced our sales through deliveries in California, further signifying an opportunity for similar growth in new markets. Following the successful soft launch earlier this year, we are pleased to move forward with a gradual expansion of the platform in Oregon, which is the country’s fourth largest legal cannabis market. We are thrilled with the accessibility to increased market share Budee provides, ultimately allowing us to reach customers across the state.”
About Stem Holdings
Stem Holdings is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem's family of award-winning brands includes TJ's Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in late 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).
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, expected expansion of distribution footprints and consumer access, the expected transition of consumers from alcohol to cannabis, the ability to achieve unique channel marketing and messaging, 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.
Products, formulations and timelines outlined herein are subject to change at any time.
Director of Branding and Public Relations