CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) has been on a serious tear since the last week in December as pot stocks heat up across the board and once again light up the OTCBB.
Origin House as been executing on a growth through acquisition plan; on January 21 CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) announced its wholly owned subsidiary, CRHC Holdings Corp. has completed the sale of 51% of its 10% equity stake in Bodhi Research & Development Inc. to Green Relief Inc. Pursuant to the previously disclosed agreement, Green Relief has purchased from CRHC and other vendors, 51% of all outstanding common stock of Bodhi Research. As consideration for the Share Purchase, Green Relief has paid CRHC $1.74 million in Green Relief common shares.
Origin House CEO Marc Lustig stated:
“This transaction represents continued progress against our stated commitment to create shareholder value by monetizing high-quality assets, not directly used to support and expand the Company’s distribution and brand network in its core market of California. We are equally pleased for Dr. Neilank Jha and his team, who will have an opportunity with Green Relief, to focus on executing the future vision of the company. The significant gain from this early investment along with similar transactions Origin House has executed over the past year, highlights our team’s successful track record in identifying strategic segments within the cannabis industry and generating substantial returns for shareholders.”
Origin House is a leading cannabis products and brands company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. The Company’s foundation is in California, the world’s largest regulated cannabis market, where it delivers over 130 branded cannabis products 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. The Company is actively developing infrastructure to support the proliferation of its brands internationally, initially through its acquisition of Canadian retailer 180 Smoke.
The company’s Washington’s “cannabis campus” is a new twist on a tried and tested idea — a specialized industry-focused campus where licensed cannabis businesses locate in fully turnkey facilities. AltoTerra Capital Corp’s wholly owned subsidiary, Cascade holdings manages these facilities and ensures ongoing compliance with all State regulations.
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In November Origin House announced financial results for the three and nine-month periods ended September 30, 2018. Origin House reported Record Q3 revenue of $6.6 million; growth of 89% over Q2 2018 and 790% over Q3 2017.
Origin House CEO Marc Lustig stated:
“Last quarter, we stated that after a substantial period of building a foundation, Origin House was at the beginning of a multi-period, sustainable acceleration in revenue growth. Year-to-date, we generated record revenue, completed four transformational acquisitions and are well-capitalized to continue growing. We expect to continue delivering strong revenue growth throughout Q4, 2019 and beyond, as RVR and 180 Smoke are integrated and as we further leverage our brand development and support platform. Our view is that the next 12 months are going to be critical in determining the winners in the cannabis space. Origin House is positioned as a premier operator in the largest and most dynamic cannabis market in the world and we believe we are just at the beginning of our growth curve. We expect this platform to become increasingly difficult to replicate and therefore increasingly valuable for our shareholders as our financial results accelerate, as well as for other operators in the cannabis space that need to be in California.”
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Currently trading at a $340 million market valuation Origin House has a war chest of $73 million in the treasury, little debt and fast growing revenues recently reporting Record Q3 revenue of $6.6 million; growth of 89% over Q2 2018 and 790% over Q3 2017. Origin House is an exciting story developing; the compnay’s premier cannabis brand development platform is powered by five licensed distribution and manufacturing facilities across California and the Company delivers over 130 branded cannabis products to the majority of licensed dispensaries in California, with a rapidly growing distributed brand portfolio. We will be updating on Origin House when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Origin House.
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Disclosure: we hold no position in Origin House either long or short and we have not been compensated for this article.