- Viola was founded by 16-year NBA veteran Al Harrington in 2012.
- Agreement will allow Origin House to produce, package and sell all Viola products in California, including cannabis flower, pre-rolls, vapes and extracts
- Origin House's distribution subsidiary, RVR Distribution, will be the exclusive distributor of all Viola products in California.
OTTAWA, Jan. 28, 2019 /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 the Company has entered into a strategic agreement (the "Agreement") with Viola, whereby Origin House has an exclusive license to produce, package and sell all Viola products in California.
Pursuant to the Agreement, effective January 24, 2019, Origin House's distribution subsidiary, RVR Distribution, will be the exclusive distributor of all Viola products in California. As the exclusive license holder, the Company will also arrange for the production of Viola's products, either in-house or through third-party manufacturers.
Viola, founded by NBA star forward Al Harrington, offers consumers an elevated experience through the growing, marketing and selling of ultra-premium grade shatter, wax, live resins and concentrates to the medical and recreational cannabis industry. Viola premium flower, pre-rolls, extracts and vapes are currently sold in over 100 dispensaries in California, as well as in dispensaries across the states of Colorado and Oregon. Viola will also be launching in Michigan later this year in a vertically-integrated facility which includes cultivation, processing and retail operations.
Afzal Hasan, President and General Counsel at Origin House stated, "We're excited to partner with Viola, which has proven to be very successful in the US marketplace and has great growth potential. This transaction is the first of several that we have been advancing, which leverage and demonstrate the potential of our business model. Our combination of a state-wide distribution footprint, in-house packaging and manufacturing expertise, along with the recently added ability to perform contract cultivation, has made us an ideal one-stop-shop for brands like Viola."
Al Harrington, Founder and CEO of Viola commented, "Origin House's unique approach towards growing cannabis brands to scale was a key factor in partnering with them. We are confident in their ability to efficiently manufacture and distribute compliant cannabis products across California, which positions them well to take Viola to the next level. We look forward to integrating our products under the Origin House banner and continue to drive synergies in the largest and most dynamic cannabis market."
Originally founded in Denver, CO, Viola is named in honor of Al Harrington's grandmother, whom cannabis has aided in life by reducing the pain and blindness caused by glaucoma. Viola now operates in Colorado, Oregon, California and Michigan. As experienced multi-state operators, Viola focuses on producing premium cannabis products including flower, vapes, pre-rolls and butane extracts. The Viola team also works closely with dispensaries to curate specific strains and products based on the specific tastes of consumers.
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 the timing and completion of the transactions and agreements contemplated in this press release, the execution of the Company's strategy, new opportunities, 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
For further information: Marc Lustig, Chairman and CEO, email@example.com, 1-844-556-5070, www.originhouse.com; Jonathan Ross, CFA, LodeRock Advisors Inc., firstname.lastname@example.org, 416-283-0178