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Why CannaRoyalty Corp (OTCMKTS:ORHOF) Could be Scary for Recent Shorts

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Shares of CannaRoyalty Corp (OTCMKTS:ORHOF) have been relative in line with the majority of market plays in the cannabis, hemp, and CBD sector over the past few months, showing the tatters of a persistent and widespread bear market in the space. But the stock has established some important signals to attempt to buck that larger dynamic in the past couple weeks, resisting lower lows to close out last week. To help foment that narrative, the company was just mentioned by Cannabiniers in its announcement of 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.

According to the release, 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.

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 Compny’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 was just mentioned by Cannabiniers in its announcement of its agreement with CannaRoyalty Corp. for exclusive distribution rights for Cannabiniers’ portfolio of fast-acting, healthier, and smoke-free, cannabis products.

As far as the technical picture, the stock had a strong performance on Friday to close out an important week, with big gains to confirm key support on strong volume. That potentially cements the support zone into place at just above the critical $3.75 area.

“Our patent-pending beverages and topicals are proving that fast-acting cannabis products that support lifestyle integration and responsible consumption appeal to a diverse range of consumers— representing the future of the cannabis industry. Partnering with Continuum expands our footprint across California, increasing consumer access to our portfolio of innovative products,” said Michael Hayford, CEO of Lighthouse Strategies, parent company to Cannabiniers. “Consumers are seeking products that provide a healthier, safer way to consume cannabis. Through Continuum, they will now be able to experience our entire portfolio of fast-acting, smoke-free cannabis products—we couldn’t be more thrilled with this partnership.”

Now commanding a market cap of $295M, ORHOF has a significant war chest ($17.6M) of cash on the books, which is balanced by about $48.1M 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 $35.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 487.5%. We will update the story again as soon as further details emerge. 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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