OTTAWA, June 13, 2019 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) ("Origin House" or the "Company"), a North American cannabis products and brands company, is pleased to announce that the Company has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the plan of arrangement (as amended, the "Arrangement") with Cresco Labs Inc. ("Cresco Labs") previously announced on April 1, 2019, pursuant to which, among other things, Cresco Labs intends to acquire all of the issued and outstanding common shares and class A compressed shares of Origin House. Receipt of the final order will allow Origin House to complete the Arrangement upon satisfaction of the remaining closing conditions, including the receipt of required regulatory approvals.
"Receipt of the final court order is a significant step towards completing the arrangement with Cresco Labs. Both Origin House and Cresco Labs are committed to closing the transaction as soon as is practicable following the expiration of the applicable antitrust waiting period, and look forward to a successful outcome for shareholders of both companies", said Marc Lustig, Chairman and CEO of Origin House.
Further information about the Arrangement is set forth in the management information circular of the Company in respect of the meeting of the shareholders of the Company which was mailed to Origin House Shareholders in connection with the Arrangement and filed under Origin House's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at 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.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Origin House's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements relating to the terms of the Arrangement (including the terms, timing, closing and conditions thereof), the expiration or termination of the waiting period under applicable antitrust legislation and the effect thereof on the Company's ability to close the Arrangement, the timing to consummate the Arrangement, the timing and likelihood that the conditions to the Arrangement will be satisfied, and the commitment of Origin House and Cresco Labs to complete the Arrangement.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining shareholder, court and regulatory approvals; investing in target companies or projects that are engaged in activities currently considered illegal under US federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward- looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Origin House
For further information: Media: Priyam Chakraborty, Communications Manager, Origin House, firstname.lastname@example.org, 647-232-9287; Investors: Kingsdale Advisors, 1-888-302-5677, email@example.com; Jonathan Ross, LodeRock Advisors Inc., Origin House Investor Relations, 416-283-0178, firstname.lastname@example.org