Company Projects US$75 Million Revenue in 2021 BOCA RATON, FL and LOS ANGELES, CA, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Stem Holdings, Inc. (“ Stem” or the “ Company”) (OTCQX: STMH CSE: STEM), a leading vertically-integrated cannabis and hemp branded products company with state-of-the-art cultivation, processing, extraction, retail, and distribution operations throughout the United States, today announced that it has completed its previously announced acquisition (the “ Acquisition”) of Driven Deliveries, Inc. (“ Driven”) (OTCQB: DRVD), an e-commerce and DaaS (delivery-as-a-service) provider with proprietary logistics and omnichannel UX (user experience)/CX (customer experience) technology. The Acquisition was completed under the terms of a definitive agreement and plan of reorganization, pursuant to which Driven shareholders received one share of common stock of Stem for each Driven share held. The combined market capitalization of the Company, after giving effect to the Acquisition, is US$65 million, based on the closing market price of Stem on the OTCQB on December 29, 2020. The Company is projected to have revenues of US$75M in CY21 and a combined gross profit of US$30 million. The Acquisition is expected to be immediately accretive to earnings per share of the Company. The shares of common stock of the Company are currently trading at 1.25X current sales run rate.