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Sunday, January 16, 2022

CannaRoyalty Corp (OTCMKTS:ORHOF) Swings Back Into Momentum Mode

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The cannabis space has been back in momentum mode in recent weeks, including one of the most interesting plays to emerge in the space recently, CannaRoyalty Corp (OTCMKTS:ORHOF). The stock has been truly red hot, with gains of as much as 90% since late December. Key resistance is in place in the $8 area, and that’s no too far away. To fuel the fire, the company just announced that the Company has entered into a strategic agreement with Viola, whereby Origin House has an exclusive license to produce, package and sell all Viola products in California.

According to the release, “Pursuant to the Agreement, effective January 24, 2019, Origin House’s distribution subsidiary, RVR Distribution, will be the exclusive distributor of all Viola products in California. As the exclusive license holder, the Company will also arrange for the production of Viola’s products, either in-house or through third-party manufacturers.”

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 the Company has entered into a strategic agreement with Viola, whereby Origin House has an exclusive license to produce, package and sell all Viola products in California.

Recent action has seen 42% during the past month in terms of shareholder gains in the listing. What’s more, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 46% beyond its prior sustained average level.

Afzal Hasan, President and General Counsel at Origin House stated, “We’re excited to partner with Viola, which has proven to be very successful in the US marketplace and has great growth potential. This transaction is the first of several that we have been advancing, which leverage and demonstrate the potential of our business model. Our combination of a state-wide distribution footprint, in-house packaging and manufacturing expertise, along with the recently added ability to perform contract cultivation, has made us an ideal one-stop-shop for brands like Viola.”

Earning a current market cap value of $444.4M, ORHOF has a significant war chest ($58.2M) of cash on the books, which stands against 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%. As more color becomes clear on the name, we will review the situation and update our take. 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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