Denver-headquartered marijuana business Colorado Harvest Co. terminated a deal in which it was to be acquired by Florida-based Stem Holdings, known as Driven by Stem.
Stem Holdings was to purchase all Colorado Harvest Company’s retail, production, and delivery licenses located in both Denver and Aurora, Colorado. The deal was originally planned to close in December of 2121. Delays by Stem Holdings pushed that closing date into 2022. The offer to extend the contract was ultimately rejected and the term sheet voided.
Colorado Harvest Company was established in 2009. It is one of Denver’s oldest cannabis retail establishments awarded two of the first 12 recreational licenses in the state. In 2021, Colorado Harvest Company received the state’s first recreational delivery license.