Origin House (fka ORHOF)

[greenwillow]

CannaRoyalty Closes Acquisition of FloraCal, a Premium Craft Cannabis Producer CNW Group July 3, 2018

https://finance.yahoo.com/news/cannaroyalty-closes-acquisition-floracal-premium-110000419.html

FloraCal generated US$6.4 million in Revenue1 US$3.2 million of EBITDA and US$2.6 million in net income in fiscal 20171
Demand is currently outpacing supply, with revenue of ~ US$600,000 in June 2018 . CannaRoyalty's distribution subsidiary River Distribution generated US$939,739 from sales of FloraCal products in month of June
FloraCal branded flower is fully compliant with the California state regulations regarding product testing and packaging that came into effect on July 1st ; Well-positioned to supply a market that may face short-term supply disruption
Current production capacity of ~1,000 kg of craft cannabis annually. Set to expand up to 3,700 kg in its Phase II expansion and 5,500 kg as part of its Phase III
OTTAWA , July 3, 2018 /CNW/ - CannaRoyalty Corp. (CRZ.CN) (CNNRF) ("CannaRoyalty" or the "Company"), a leading North American cannabis products and brands company, announced today that it has closed the previously announced acquisition of FloraCal® Farms ("FloraCal"), a licensed premium craft cannabis producer located in Sonoma County, California .

"The evolution of our relationship with FloraCal to the close of the acquisition today, is directly aligned with the strategic framework we have outlined for shareholders and is a model that we intend to replicate in a targeted fashion across key verticals of the California market in the coming years," said Marc Lustig , CEO of CannaRoyalty. "As one of the state's largest third-party cannabis consumer brand distributors, we are strategically positioned to foster the growth of both our retailer and brand customers' businesses, while generating proprietary market data and consumer insights to ensure we are in a position to acquire or otherwise partner with brand leaders in the space as they establish themselves."