CannaRoyalty Corp OTCMKTS: ORHOF is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. Origin House’s foundation is in California, the world’s largest regulated cannabis market, where it delivers over 130 branded cannabis products from 50+ brands to the majority of licensed dispensaries. Origin House’s brand development platform is operated out of five licensed facilities located across California, and provides distribution, manufacturing, cultivation and marketing services for its brand partners. Origin House is actively developing infrastructure to support the proliferation of its brands internationally, initially through its acquisition of Canadian retailer 180 Smoke. Origin House’s shares trade on the CSE under the symbol “OH” and on the OTCQX under the symbol “ORHOF”. Origin House is the registered business name of CannaRoyalty Corp.
CannaRoyalty Corp OTCMKTS: ORHOF On May 29, 2019 announced its financial results for the three months ended March 31, 2019. All figures are reported in Canadian dollars ($), unless otherwise indicated. Origin House’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
As previously announced, the Company will hold a Special Meeting of shareholders on June 11, 2019 in connection with its previously announced statutory plan of arrangement pursuant to which Cresco Labs Inc. (“Cresco Labs”) will acquire all of the issued and outstanding shares of Origin House (the “Arrangement”).
Marc Lustig, CEO and Chairman of Origin House commented, “This was a milestone quarter for Origin House, as the team drove solid organic growth within our Californian distribution and brands platform and completed meaningful strategic merger and acquisition-based initiatives including the addition of 180 Smoke in Canada. Moving forward through the balance of the year, we are confident that, once completed, the combination of Cresco Labs’ scale and Origin House’s California-wide distribution footprint will further accelerate growth and build significant value for the shareholders of both companies.”
CannaRoyalty Corp OTCMKTS: ORHOF On May 28, 2019 announce that 22 Capital and Trichome have received conditional approval from the TSX Venture Exchange (the “Exchange”) for their announced amalgamation under the provisions of the Business Corporations Act (Ontario) that will result in a reverse take-over of 22 Capital by the shareholders of Trichome (the “Transaction”). The Transaction, if completed, will constitute 22 Capital’s “Qualifying Transaction” as such term is defined in Policy 2.4 of the Exchange. Currently a subsidiary of CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) (“Origin House”), Trichome is a private corporation. Each of Trichome and Origin House exists under the laws of the Province of Ontario.
The Transaction is being undertaken pursuant to the terms and conditions of the amalgamation agreement between 22 Capital and Trichome dated November 13, 2018, as amended January 30, 2019, April 5, 2019 and May 27, 2019 (the “Amalgamation Agreement”). The recent amendment clarified the terms of the consolidation of the 22 Capital common shares contemplated by the Amalgamation Agreement due to an exercise of broker warrants in 22 Capital.
At the Trichome Shareholder meetings, Trichome will be seeking approval of, among other things, (i) a special resolution approving the Transaction; (ii) a special resolution approving an immediate share split of every issued and outstanding common shares of Trichome (the “Trichome Common Shares”) into three Trichome Common Shares; (iii) a special resolution approving a share split of every Class A Preference, Series 1 Share of Trichome (the “Trichome Preferred Shares”) into three Trichome Preferred Shares; and (iv) an ordinary resolution approving the new incentive plans of the amalgamated entity.