If you’re looking for pullbacks in the cannabis space with interesting technical features, you could do a lot worse than CannaRoyalty Corp (OTCMKTS:ORHOF). The stock has dropped about 48% in the past 6 weeks but just caught some key support at a rising 200-day simple moving average. To help flesh out that picture, the company just announced that the new objective is to grow the fund to $1 million over the next four years.
According to the release, “this fund supports a best-in-class medical cannabis program as part of the Division of Supportive and Palliative Care at the McGill University Health Centre (MUHC), as well as vital research, training, and education. A first-of-its-kind in Canada medical cannabis therapy pilot project was launched in January 2018 with support from the Cedars Cancer Foundation and the Rossy Cancer Network’s Quality Improvement Initiatives Fund.”
CannaRoyalty Corp (OTCMKTS:ORHOF) trumpets itself as a private equity firm specializing in acquisitions. The firm invests in the legal cannabis sector with a focus on research and intellectual property, consumer brands, and industry infrastructure. It seeks to invest in the United States and Canada. CannaRoyalty Corp. is headquartered in Ottawa, Canada.
The company is doing business as Origin House.
Origin House is a growing 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.
Origin House’s Common Shares currently trade on the Canadian Securities Exchange (CSE) under the symbol “CRZ” and will trade under the symbol “OH” effective October 23, 2018. Origin House is the registered business name of CannaRoyalty Corp.
Find out when $ORHOF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, ORHOF just announced that the new objective is to grow the fund to $1 million over the next four years.
We’ve witnessed -9% during the past week in terms of shareholder gains in the listing. What’s more, the company has seen interest climb, with an increase in recent trading volume of 34% over the long run average.
“In the clear light of day and in the darkest hour of the night, cancer is dreadful,” underscored Marc Lustig, a McGill graduate and founder of Origin House.
“Evidence indicates that cannabis has a beneficial role to play in alleviating patient suffering, but we need to invest more in medical cannabis care, research and training. For this reason, my family and I are challenging Canadians to join us in boosting Cedar’s leadership in supportive and palliative care and in supporting health care professionals and scientists working in this emerging field. So please make a donation today to our Fund through the Cedars Cancer Foundation.”
Currently trading at a market capitalization of $287.71M, ORHOF has a significant war chest ($58.2M) of cash on the books, which compares with about $21M in total current liabilities. One should also note that debt has been growing over recent quarters. ORHOF is pulling in trailing 12-month revenues of $9.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 753.4%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ORHOF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ORHOF, either long or short, and we have not been compensated for this article.