|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.7800 - 4.1900|
|52 Week Range||2.7400 - 9.7470|
|Beta (3Y Monthly)||2.22|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Cannabis Countdown: Top 10 Marijuana Industry News Stories of the Week Welcome to the Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories ...
Cresco Labs Inc. (“Cresco Labs” or the “Company” – CSE: CL, OTCQX: CRLBF) and CannaRoyalty Corp. d/b/a Origin House (“Origin House” – CSE: OH, OTCQX: ORHOF) are pleased to announce today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), has expired with respect to the proposed acquisition of Origin House by Cresco Labs (the “Transaction”). The expiration of the waiting period under the HSR Act satisfies one of the remaining conditions to completing the Transaction.
OTTAWA , Oct. 15, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company today announced that the Company has achieved full integration with the California Cannabis Track-and-Trace ("CCTT") system at each of its six licensed facilities in the state. The CCTT system, developed by software vendor, Metrc, uses RFID-enabled tags to track cannabis products through every stage of the supply chain, from seed to retail sale.
TORONTO , Oct. 9, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company, today announced that its subsidiary Trichome Financial Corp. (formerly 22 Capital Corp.) (the "Corporation" or "Trichome Financial") (TSXV:TFC) announced that its common shares will begin trading on the TSX Venture Exchange ("TSXV") tomorrow under the trading symbol "TFC".
TORONTO , Oct. 7, 2019 /CNW/ - On October 4, 2019 , Trichome Financial Corp. (the "Corporation" or "Trichome Financial") and 22 Capital Corp. ("22 Capital") completed a business combination transaction by way of an amalgamation (the "Amalgamation") of Trichome Financial with 22 Capital to form the Corporation. At a shareholder meeting for 22 Capital on July 4, 2019 and a shareholder meeting for Trichome Financial held on July 8, 2019 , the Amalgamation and related matters were approved by the shareholders of each of 22 Capital and Trichome Financial.
CannaRoyalty d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) announced that its distribution unit Continuum has entered into an agreement to become the distributor of Cannabiniers' cannabis-infused products in California. Cannabiniers is a maker of Two Roots, Creative Waters, and Baskin cannabis-infused products. Michael Hayford, the CEO of Lighthouse Strategies, the parent company of Cannabiniers, stated that "Continuum […]The post Origin House to Sell Cannabis-Infused Beverage of Cannabiniers in California appeared first on Market Exclusive.
Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) reported a purchase of 100,000 shares of its stock by Executive Chairman Boris Jordan. Shares were bought on Sept. 27 on the open market at $8.21 apiece. "This is an exciting time for Curaleaf and our industry, and I have never been more confident in our future. Curaleaf is well […]The post Cannabis Stock News Daily Roundup October 4 appeared first on Market Exclusive.
SAN DIEGO, Oct. 3, 2019 /PRNewswire/ -- Cannabiniers™ announces its agreement with CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) for exclusive distribution rights for Cannabiniers' portfolio of fast-acting, healthier, and smoke-free, cannabis products. This partnership with Continuum, the California distribution division of Origin House, expands Cannabiniers' reach to more than 500 dispensaries across the state of California, the world's largest cannabis market.
OTTAWA , Oct. 3, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company today announced that the Company's distribution arm, Continuum, has entered into an agreement (the "Agreement") to become the exclusive distributor of Cannabiniers™, producer of Two Roots™, Creative Waters™, and Baskin™ cannabis-infused products in California . "Our California distribution platform continues to strengthen as we prepare for the closing of the acquisition of the Company by Cresco Labs Inc. ("Cresco Labs"), upon receipt of regulatory approvals" said Marc Lustig , Chairman and CEO of Origin House.
OTTAWA , Sept. 20, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company, announced that it has received a further C$15 million advance of debt financing (the "Financing") from Opaskwayak Cree Nation ("OCN"). Marc Lustig , Chairman and CEO of Origin House commented, "We appreciate the continued support of OCN. In addition to the previously disclosed funding from OCN totalling C$12 million , the proceeds from this Financing are expected to be used by Origin House for the construction and expansion of its premium craft cannabis production facilities in Sonoma County – Cub City and FloraCal, for costs related to closing of the previously announced plan of arrangement (the "Arrangement") with Cresco Labs Inc. ("Cresco Labs"), and for general corporate purposes.
CHICAGO and OTTAWA , Sept. 17, 2019 /CNW/ - Cresco Labs Inc. ("Cresco Labs") (CL.CN) (CRLBF) and CannaRoyalty Corp. d/b/a Origin House ("Origin House" and together with Cresco Labs, the "Companies" – CSE: OH, OTCQX: ORHOF), both announced today that, effective September 16, 2019 , they have each submitted certifications of substantial compliance with the request for additional information ("Second Request") from the United States Department of Justice Antitrust Division (the "DOJ") in connection with Origin House's and Cresco Labs' notification to U.S. antitrust authorities pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act"), as amended, in respect of Cresco Labs' pending acquisition of Origin House (the "Transaction"). The HSR Act waiting period was extended by the issuance of the Second Requests to Cresco Labs and Origin House.
Anyone who closely follows the cannabis industry knows that it is experiencing unrivaled growth. The year is set to end with a 31.7% increase in annual legal cannabis sales, bolstered by new regulation, ...
Origin House (ORHOF) has been put on the cannabis map in a big way because of the attempt by Cresco Labs (CRLBF) to acquire the company. This has unfortunately taken the focus off of the actual performance of the company, as uncertainty concerning the deal being approved weighs on the share price of Origin House for now.The most recent earnings report was a good one for the company, and when coupled with a recent decision by Weedmaps which will result in a significant reduction in cannabis sales in the California cannabis market, Origin House is positioned to benefit greatly from that action.Cresco Labs acquisition not a done dealSome investors consider the attempt by Cresco Labs as a done deal, as does management, which has stated it doesn't believe it'll fail in getting the deal done.The C$1.1 billion offer by Cresco Labs appeared to be a sure thing in the early stage of the process, but it wasn't long afterward that the Department of Justice requested more information concerning the proposed deal based upon the Hart-Scott-Rodino Antitrust Improvements Act of 1976.Why that matters is these types of requests are related to issues related to reducing competition. Even though it's being spun as not much more than a formality, in fact it could derail the deal and leave both companies as they were before the offer was made.This is why looking at the fundamentals of Origin House is important, as the assumption should be made by investors that the deal won't be allowed to go through. After all, some paid a premium price for the company based upon the idea it was going to go forward.I'm not suggesting it isn't going to be approved, as I think it has more than a 50 percent chance of being given the go ahead. But the company would take a hit if it is stopped, and investors should be prepared for the company to stand on its own merits either way.With that in mind, there's a lot to like about the future prospects of Origin House, whether it's acquired by Cresco Labs or not.California cannabis market has been a messA fallout from the policies associated with the California cannabis sector has resulted in a lot of customers going back to the black market as their source of supply.The two major reasons for this are leaving up to individual jurisdictions concerning what is allowed, and second, the enormous taxes levied against cannabis sales.Taking into account there are 58 counties and 482 incorporated cities and towns in California, it's not surprising to see the disastrous consequences of each one deciding on the guidelines and laws associated with cannabis.Not only are there different rules from city to city, but a county may have one set of rules, while the individual cities in the county have a different set of rules. It also means in many jurisdictions pot remains effectively prohibited. That's important because many people have chosen to go back to the black market for their recreational pot supply.Changing practices at Weedmaps is going to change this situation around.As for the combination of state, local, and excise taxes, that could in a number of cases surpass the 40 percent mark, dependent upon the tax burden in each municipality. Not only has that pushed users toward the black market, but also to Nevada, where overall cannabis costs are much lower.Weedmaps Weedmaps is an Internet directory that allows marijuana dispensaries and users to connect with one another.Until recently Weedmaps has allowed legal and illegal operators to advertise on the platform. About a week ago Weedmaps said that starting in the latter part of 2019, it was no longer going to allow illegal or unlicensed dispensaries on the platform. Weedmaps stated it will help unlicensed operators to go through the process of reaching compliance, but that will take some time to work itself out.Upon hearing of the decision, some have suggested it could result in as much as 50 percent of illegal sales to be slashed in California. This is a potentially huge catalyst for Origin House.The benefit to Origin HouseThe strength of Origin House in California is the distribution assets it owns. All legal cannabis products sold in California must be handled via licensed distributors.Only a distributor can transport cannabis products in the state, and they are required to ensure all of their labeling and packaging is compliant with guidelines. They also act as the tax collector for all sales in the state.So when Weedmaps announced it was going stop allowing unlicensed businesses on its platform, it means a huge swath of the black market competition will lose business to the benefit of Origin House and other distributors.Since Origin House has acquired a number of important California distribution licenses and companies in California, it is positioned to take advantage of this major catalyst, which will drive revenue up in the quarters ahead.With so much fragmentation in the California cannabis sector, this is going to be a welcome change to end-users in my opinion, and it will be a major catalysts for cannabis distributors in the state.C$12 Price TargetDown by nearly 40% from its April highs, Origin House stock rides the rollercoaster of investor sentiment. But the good news for shareholders is that this sentiment may take a turn for the better. 4-star analyst Matt Bottomley is advising his clients to buy the stock, and he believes it could hit C$12 within a year. For perspective, Origin House's stock closed at C$7.74 today, so this implies upside of about 55%. (To watch Bottomley's track record, click here)ConclusionWhile the focus on many investors has been on the potential acquisition of Origin House by Cresco Labs, it has quietly went about generating strong sales, which are going to continue to improve going forward as the huge black market in California shrinks to the benefit of Origin House.For those reasons, even if the acquisition is not allowed to go forward, the future of Origin House is very bright.At its current share price level, there isn't a lot of support remaining from the announced deal. If it doesn't go forward, Origin House will take a hit, but I see it rapidly returning to where it is at now based upon the potential associated with new sales growth coming in the latter part of 2019 and into 2020.However it plays out, I think Origin House is going to make shareholders happy.Visit TipRanks’ Trending Stocks page, and find out what companies Wall Street’s top analysts are looking at now.Disclosure: No position
The marijuana company delivered record high results thanks to strong California operations and added revenue from its Canadian business.
Origin House Announces Record Quarterly Revenue of $21.4 million for the Second Quarter of 2019; Sequential Growth of 91% from Q1 2019
OTTAWA , Aug. 12, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company today announced that it plans to release its financial results for the second quarter ended June 30, 2019 on August 28, 2019. As disclosed on July 18, 2019 , Origin House will be reporting revenues of approximately C$21 million , demonstrating strong sequential growth of 88%1 over Q1 2019, at an approximate gross margin, excluding fair value items, of 17%1. The Company's progress in the second quarter of the year was a result of its focused strategy to capitalize on the statewide California platform it has built over the past two years. Origin House will not hold a public conference call in connection with the release of its second quarter financial results. Cresco Labs will report its financial results for the second quarter of 2019 on Wednesday, August 21, 2019 following market close.
Divestment of AltMed represents an approximate 156% return on investment for Origin House shareholders and marks the completion of a key remaining step toward the closing of the Company's Arrangement with Cresco Labs. OTTAWA , July 26, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company, announced today that it has divested its 5.1% equity interest (the "Interest") in Alternative Medical Enterprises LLC ("AltMed") for total consideration of US$6 Million . As Cresco Labs Inc. ("Cresco") is prohibited under state law from acquiring additional positions in the Florida market, this divestment was a pre-closing condition to the Company's previously announced plan of arrangement (the "Arrangement") pursuant to which Cresco has agreed to acquire all of the issued and outstanding shares of Origin House.
Over 88% sequential growth in Q2 2019 preliminary unaudited revenue (compared to Q1 2019), primarily driven by focused execution in expanding California market. OTTAWA , July 18, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (OH.CN) (ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company today announced preliminary unaudited revenue of approximately $21 million 1 for the second quarter ended June 30, 2019 , at an approximate gross margin, excluding fair value items, of 17%1. The California market has grown in 2019, with an increase in the number of licensed dispensaries since December 2018 2 and a more stable regulatory environment than in 2018.
TORONTO , July 9, 2019 /CNW/ - 22 Capital Corp. (LFC-P.V) ("22 Capital") and Trichome Financial Corp. ("Trichome Financial") are pleased to announce that each of 22 Capital and Trichome Financial have received unanimous approval from their respective shareholders 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 Financial (the "Transaction"). The Transaction, if completed, will constitute 22 Capital's "Qualifying Transaction" as such term is defined in Policy 2.4 of the TSX Venture Exchange (the "Exchange").