- Humboldt's Finest is an alliance of heritage cannabis farms in Humboldt County, a globally-renowned region for craft cannabis production.
- Origin House is the exclusive distributor of Humboldt's Finest products in California.
- Agreement aligns with Origin House's commitment to incubate and accelerate promising cannabis brands, while supporting California's dynamic community of cannabis growers.
OTTAWA, Feb. 4, 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 that the Company has entered into an agreement (the "Agreement") to provide strategic financing of US$704,000 to Humboldt's Finest, an alliance of heritage cannabis farms representing Humboldt County. Humboldt's Finest produces sun-grown cannabis flower on their farms in Humboldt County, California, which is processed into products including jarred flower, pre-roll flower joints, live resin dabs/jars and/or live resin cartridges.
The funds have been advanced towards the forward purchase of Humboldt's Finest cannabis and cannabis products at a discount to the wholesale price. In conjunction with the Agreement, Origin House's wholly-owned distribution subsidiary, RVR Distribution ("RVR") has renewed and extended its exclusive distribution rights to Humboldt's Finest products. This Agreement, in addition to the previously announced partnership with Mendocino-based Henry's Original, reinforces Origin House's presence as an active operator with a strong foothold in the Emerald Triangle, the epicenter of California's cannabis cultivation.
"We are proud to announce Humboldt's Finest as a participant in our innovative brand acceleration program, following recently announced partnerships with Henry's Original and Utopia Cannabis," said Afzal Hasan, President and General Counsel of Origin House. "We believe that the low-impact, organic practices of cultivators such as Humboldt's Finest are the gold standard for high quality, sustainable, heritage cultivation. Humboldt County has come a long way socially, economically and environmentally, and the intellectual property rooted within the practices of this community is at the core of the brands that we are partnering with. We're excited to support operators in Humboldt County that are seeking to make the area a global nexus for cannabis cultivation, as these relationships have the potential to translate into strong returns for both the local communities and our stakeholders."
About Humboldt's Finest
Humboldt's Finest is an alliance of heritage cannabis farms representing legendary Humboldt County. For more information, please visit www.humboldtsfinestfarms.com.
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