- California-based Henry's Original markets handcrafted products such as premium pre-rolls and jars of pure flower from the finest heirloom cannabis grown in Mendocino County.
- Origin House will provide financing of up to US$2.5 million to support the purchase of high-quality cannabis flower, hand selected by Henry's.
- The finished Henry's Original-branded products will be distributed exclusively through Origin House's California distribution platform.
- Agreement aligns with Origin House's commitment to incubate and accelerate promising cannabis brands, while supporting California's cannabis farming community.
OTTAWA, Nov. 22, 2018 /CNW/ - CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) ("Origin House" or the "Company"), a leading North American cannabis products and brands company, today announced that it has entered into a strategic partnership (the "Agreement") with boutique cannabis producer, Heritage Holding of California, Inc. d/b/a Artifact Henry's Original ("Henry's" or "Henry's Original").
As part of a broader brand acceleration and community support initiative, Origin House will finance the purchase of premium cannabis flower from local Mendocino County. Henry's will process and package the flower into jars and pre-rolls under the Henry's Original brand, which will be distributed exclusively by Origin House's distribution subsidiaries, RVR Distribution ("RVR") and Alta Supply, Inc. ("Alta").
Commenting on the partnership, Afzal Hasan, President and General Counsel of Origin House said, "Our vision as Origin House is to become the home of premium cannabis brands and I'm excited to be able to leverage this unique opportunity with Henry's Original as one of the first partnerships following our recent rebrand. This initiative allows us to financially support local Mendocino farmers, help the growth of a unique flower brand, while also driving our growing distribution business. Partnering with local entrepreneurs such as Jamie allows us to be a responsible corporate citizen promoting growth of the California cannabis industry. This Agreement is the one of a number of similar opportunities we've been exploring – we look forward to partnering with more passionate local California businesses to help bring their industry leading offerings to the world."
Jamie Warm, CEO of Henry's Original added, "We have been impressed with Origin House's bespoke approach to supporting our business. Our cannabis comes from family-run farms in Mendocino County, renowned for terroir that produces the finest cultivation conditions. We've grown our business from scratch, handling everything in house. And while we will continue to do that, this partnership with Origin House has offered us opportunities to scale-up and work symbiotically with other businesses in the industry."
Origin House, through its subsidiary, RVR Distribution, will purchase up to $2.5 million of bulk cannabis flower from Mendocino County cultivators selected by Henry's. Henry's will process and package the flower into jars and pre-rolls at its facility in Laytonville. The finished products will be exclusively distributed throughout the state by RVR and Alta.
About 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 shares trade on the Canadian Securities Exchange (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 timing for the Company's stock symbol change, the execution of the Company's strategy, including Phases I, II and III of the Company's business, the Company's timing and process for expansion in Canada and globally, timing for the Company's acquisition of 180 Smoke, new opportunities, future growth and other statements.
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 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