Origin House (fka ORHOF)

[NYOptionsGuy]

CannaRoyalty Provides Strategic Financing to Brand Partner Utopia Cannabis to Drive Revenue Growth


SOURCE: https://mjobserver.com/investments/cannaroyalty-provides-strategic-financing-to-brand-partner-utopia-cannabis-to-drive-revenue-growth/

Ottawa, ON — September 13, 2018 — /D.M.O. Newswire/ — CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) (“CannaRoyalty”) and its subsidiary RVR Distribution (“RVR”) (together the “Companies”) today announced that the Companies have agreed to provide strategic financing to support the expansion and growth of Utopia Cannabis (“Utopia”), an award-winning California-based cannabis brand focused on curating clean, best-in-class cannabis flowers, extracts and edibles. Under the Agreement, CannaRoyalty will advance USD$750,000 to finance a forward purchase of manufactured products, including Utopia-branded jarred extracts, vaporizer cartridges and edibles (the “Inventory”).

The advanced funds will be used as working capital to accelerate Utopia’s manufacturing and production schedule at their newly permitted Type-7 Manufacturing facility.

Afzal Hasan, President and General Counsel at CannaRoyalty said, “At the end of 2017, we highlighted our mission to become the home of origin for the global cannabis brands of the future, leveraging our access to distribution, manufacturing infrastructure and resources to help promising cannabis brands scale up. Through the course of this year, we’ve been busy building that home of origin for tomorrow’s global brands, specifically for authentic entrepreneurs like Utopia to share with us. This financing represents the first of many in which we will provide these partners with the tools and resources that they need to lead the industry, first locally in California and then eventually on a global scale. And importantly, we are doing this on non-dilutive terms that allow our brand partners to reap the benefits of their hard-work. We are confident that our unique approach makes us strategic partner of choice for the global cannabis brands of tomorrow.”

REST OF RELEASE: https://mjobserver.com/investments/cannaroyalty-provides-strategic-financing-to-brand-partner-utopia-cannabis-to-drive-revenue-growth/