OTTAWA, June 6, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (the "Company" or "Origin House") (CSE: OH and OTCQX: ORHOF) announces today that it has agreed with Cresco Labs Inc. ("Cresco") to certain technical amendments (the "Amendments") to its previously announced plan of arrangement (the "Arrangement") pursuant to which Cresco will acquire all of the issued and outstanding shares of Origin House. The agreement amending the Arrangement (which includes the amended Plan of Arrangement) will be filed under the Company's profile on www.sedar.com. The Amendments permit outstanding restricted share units (the "RSUs") to remain outstanding following the completion of the Arrangement as opposed to automatically converting such RSUs into Subordinated Voting Shares of Cresco, as previously provided in the Plan of Arrangement. The Amendments were agreed to as they provide additional flexibility to holders of the RSUs without effect to the treatment of Origin House's shareholders under the Arrangement.
The shareholders of Origin House are scheduled to vote on the amended Plan of Arrangement at the special meeting (the "Meeting") of Origin House shareholders scheduled to be held at the offices of Norton Rose Fulbright Canada LLP located at Royal Bank Plaza, South Tower, Suite 3800, 200 Bay Street, Toronto, Ontario, at 10:00 a.m. (Toronto time), on June 11, 2019. Further information about the Arrangement is set forth in the materials prepared by the Company in respect of the Meeting which were mailed to Origin House Shareholders and filed under Origin House's profile on the www.sedar.com.
About Origin House
Origin House is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. Origin House's foundation is in California, the world's largest regulated cannabis market, where it delivers over 130 branded cannabis products from 50+ brands 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. Origin House is actively developing infrastructure to support the proliferation of its brands internationally, initially through its acquisition of Canadian retailer 180 Smoke. Origin House's shares trade on the CSE under the symbol "OH" and on the OTCQX under the symbol "ORHOF". Origin House is the registered business name of CannaRoyalty Corp. For more information, visit www.originhouse.com.
SOURCE Origin House
For further information: Media: Priyam Chakraborty, Communications Manager, Origin House, [email protected], 647-232-9287; Investors: Kingsdale Advisors, 1-888-302-5677, [email protected]; Jonathan Ross, LodeRock Advisors Inc., Origin House Investor Relations, 416-283-0178, [email protected]