Stem Holdings Merges With Driven Deliveries To Become Driven By Stem

Stem Holdings Inc. (OTCQX: STMH) (CSE: STEM) confirmed Tuesday the acquisition of e-commerce and DaaS (delivery-as-a-service) provider Driven Deliveries Inc. (OTCQB: DRVD).

The all-stock transaction is scheduled to close by the year and.

Shareholders of the Los-Angeles based delivery company would gain one share of Stem’s common stock for each share of Driven’s common stock at an aggregate purchase price of roughly CA$41.3 million.

According to Stem, the merger would result in the “first vertically-integrated cannabis company with an integrated Delivery as a Service (DaaS) platform,” with a combined market capitalization of around the US$54 million.

In addition, …

Full story available on Benzinga.com

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