Saturday, May 31, 2025

Latest

Driven By Stem Expands Distribution Footprint In NorCal

Driven By Stem (CSE: STEM) is further expanding its operations in California, this time with a focus on the northern region of the state. The company has received another license to further its delivery as a service offerings in the state.

The license is specifically for a non-storefront distribution hub, which the company will utilize to improve its delivery offerings to the residents of Northern California. Located in Mendota, which sits in the county of Fresno, the company will be able to better serve what it deems as being four key counties, which collectively have 2.3 million residents.

The new hub is expected to be operational next month, with the new hub expected to result in $1.0 million in operational savings while also driving topline sales. Taxes are also reportedly lower in this region compared to its current Oakland facility, further reducing operating expenses.

“The new Fresno distribution hub for non-storefront retail sales is the first of several planned initiatives to enhance revenue and reduce SG&A while improving service and variety for our valued Budee customers. In addition to the newly added distribution hub, our three existing distribution hubs, as well as a medical cannabis dispensary, provide widespread delivery service to the significant population throughout California,” commented Adam Berk, CEO of Driven By Stem.

The Northern region of the state is expected to be a growth market for Stem’s DaaS model, with the city of Fresno alone anticipating up to 21 retail dispensaries opening up in the city by the end of the year.

The announcement follows the company acquiring two dispensaries as well as an extractor in Oregon just last week.

Driven By Stem last traded at $0.32 on the CSE.


FULL DISCLOSURE: Driven By Stem is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Driven By Stem on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Stem Holdings Reports Preliminary Q2 Revenues Of US$12.9 Million

Stem Holdings (CSE: STEM) this evening released a corporate update. Contained within, among other items,...

Thursday, April 8, 2021, 04:51:57 PM

Driven By Stem Sees Ecommerce App For Budee Added To Apple App Store

Driven By Stem (CSE: STEM) continues to drive forward with its delivery-as-a-service offering within the...

Tuesday, October 12, 2021, 07:40:01 AM

Stem Holdings Sees Delivery Services Launched In Oregon

A new cannabis delivery service is coming to the Oregon market. Stem Holdings (CSE: STEM)...

Monday, August 9, 2021, 08:58:23 AM

Stem Holdings Enters Michigan Cannabis Market

Stem Holdings (CSE: STEM) is expanding into the Michigan cannabis market. The company this morning...

Wednesday, April 28, 2021, 08:44:39 AM

Stem Holdings Posts Record Quarter With $10.5 Million In Net Revenues

Stem Holdings (CSE: STEM) this morning reported its first quarter financial results. The company posted...

Tuesday, May 18, 2021, 10:34:20 AM