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Tuesday, December 1, 2020

Why CannaRoyalty Corp (OTCMKTS:ORHOF) Should be in Focus

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Another prospective bottoming pattern in the cannabis space that needs to be watched closely is CannaRoyalty Corp (OTCMKTS:ORHOF). Thus far, this week has not been a positive input, with the stock sinking back to retest recent lows. Helping to battle that energy, the company just announced that it has achieved full integration with the California Cannabis Track-and-Trace system at each of its six licensed facilities in the state.

According to the release, “the CCTT system, developed by software vendor, Metrc, uses RFID-enabled tags to track cannabis products through every stage of the supply chain, from seed to retail sale. Once deployed statewide, the program will give both regulators and licensees greatly improved visibility into the movement of cannabis goods in California, while making it harder for black-market goods to reach consumers.”

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 achieved full integration with the California Cannabis Track-and-Trace system at each of its six licensed facilities in the state.

The stock has suffered a bit of late, with shares of ORHOF taking a hit in recent action, down about -19% over the past week. Moreover, the listing has seen interest climb, with an increase in recent trading volume of 65% over what the stock has registered over the longer term.

“Our team has long supported CCTT-Metrc as a cornerstone of California’s regulatory and consumer-protection strategies,” said Lee Dorkin, Head of California Operations at Origin House. “We are proud to be among the first vertically-integrated operators to complete deployment of the system at such a large scale. Our success in doing so reaffirms Origin House’s commitment to being an industry leader in compliance and product quality.”

Currently trading at a market capitalization of $314M, 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%. 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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