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Tuesday, December 6, 2022

The Powerful Rise of CannaRoyalty Corp (OTCMKTS:ORHOF)

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Yet another recent ripper in the MJ space so far in 2019 is CannaRoyalty Corp (OTCMKTS:ORHOF). Shares are up as much as 40% off their recent pivot lows following a strong breakout above major moving averages.

To further flesh out the story, the company just announced that it has signed a binding term sheet with Alternative Medical Enterprises, LLC to convert the Company’s 3.5% royalty interest on the sale of AltMed’s MÜV branded products into a combination of cash and 125 units of AltMed’s equity raising Origin House’s aggregate equity position in AltMed to 5.1%.

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.

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As noted above, ORHOF just announced that it has signed a binding term sheet with Alternative Medical Enterprises, LLC to convert the Company’s 3.5% royalty interest on the sale of AltMed’s MÜV branded products into a combination of cash and 125 units of AltMed’s equity raising Origin House’s aggregate equity position in AltMed to 5.1%.

Traders will note 33% tacked on to share pricing for the company in the past month. What’s more, the stock has benefitted from a jump in recent trading volume to the tune of 9% above the average volume levels in play in this stock over the longer term.

Marc Lustig, Chairman and CEO of Origin House said, “AltMed has established itself as a successful cannabis business in the key markets of Florida and Arizona. Based on our discussions with AltMed, we believe eliminating the royalty will facilitate the multi-jurisdictional expansion of MÜV products and also furthers our strategic aim of converting non-core assets like the MÜV royalty. We are confident in AltMed’s prospects and believe that our increased equity position will continue to lead to significant value creation for Origin House shareholders.”

Now commanding a market cap of $389.91M, ORHOF has a significant war chest ($58.2M) of cash on the books, which must be weighed relative to 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.

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