Is the Party Just Getting Started for CannaRoyalty Corp (OTCMKTS:ORHOF)?

Is the Party Just Getting Started for CannaRoyalty Corp (OTCMKTS:ORHOF)?

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Shares of CannaRoyalty Corp (OTCMKTS:ORHOF) continue to outperform the broad cannabis space. Helping to drive the narrative, the company just announced that it has entered into a Brand Accelerator Program agreement with Mendocino-based cannabis producer, Heritage Holding of California, Inc. d/b/a Henry’s Original. According to the release, “California cannabis brand Henry’s Original, winner of the GreenState Cannabis Award in 2018 for ‘Excellence in Products’, markets hand-crafted flower and premium pre-rolls from the finest heirloom cannabis grown in Mendocino County.”

The stock has been constrained in a lateral consolidation for the better part of the past six weeks, with shares bound in a narrowing range. But that range may represent a compelling bullish flag breakout pattern in the context of the strong upward trend that has been in place since mid-December when the stock put in a key pivot low in the $3.75 area. We said we liked this one last month. And we continue to like its prospects in March, with a strong pattern and strong growth as dual tailwinds.

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 entered into a Brand Accelerator Program agreement with Mendocino-based cannabis producer, Heritage Holding of California, Inc. d/b/a Henry’s Original.

We’ve witnessed 6% tacked on to share pricing for the name in the past week. Furthermore, the name has seen interest climb, with an increase in recent trading volume of 21% beyond what we have been seeing over the larger time frame.

“Henry’s Original was one of the first brands we partnered with under our innovative and growing Brand Acceleration Program. Our original partnership with Henry’s bolstered their ability to meet consumer demand for its heirloom Mendocino-grown cannabis, while giving us the opportunity to financially support local Mendocino farmers,” commented Afzal Hasan, President and General Counsel of Origin House.

Earning a current market cap value of $457.58M, 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%. We will update the story again soon as developments transpire. 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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