Origin House Announces Earnings Release Date for Second Quarter of 2019

Press Release

Ottawa, Canada – August 12, 2019 – CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) (“Origin House” or the “Company”), a North American cannabis products and brands company today announced that it plans to release its financial results for the second quarter ended June 30, 2019 on August 28, 2019. As disclosed on July 18, 2019, Origin House will be reporting revenues of approximately C$21 million[1], demonstrating strong sequential growth of 88%1 over Q1 2019, at an approximate gross margin, excluding fair value items, of 17%1. The Company’s progress in the second quarter of the year was a result of its focused strategy to capitalize on the statewide California platform it has built over the past two years.

Origin House will not hold a public conference call in connection with the release of its second quarter financial results. Cresco Labs will report its financial results for the second quarter of 2019 on Wednesday, August 21, 2019 following market close. This will be followed by a conference call and webcast to discuss its business and financial results at 5 p.m. Eastern Time on Wednesday, August 21, 2019. The conference call may be accessed via Cresco Labs’ investor relations website at investors.crescolabs.com or by dialing 866-688-4235 (409-216-0711 for international callers) and providing conference ID 3385937. Archived access to the webcast will be available for one year on the Cresco investor relations website.

As recently disclosed, in connection with the previously announced plan of arrangement pursuant to which Cresco Labs will acquire all of the issued and outstanding shares of Origin House (the “Arrangement”), the Company and Cresco Labs received requests for additional information (“Second Requests”) from the United States Department of Justice Antitrust Division (the “DOJ”) pursuant to the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Both companies are in active discussions with the DOJ regarding the Second Requests and are confident that the Arrangement will be completed as planned.
[1] The financial information presented in this news release is based on preliminary, unaudited financial statements prepared by management, for the second quarter ended June 30, 2019, and is fully qualified by the section in this press release entitled “Disclaimer Regarding Financial Information”. Gross margin figures exclude fair value items related to biological asset accounting as the Company is still in the process of completing its valuation of biological assets under IAS 41.

About Origin House

Origin House is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. Origin House’s California 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. Origin House is actively developing infrastructure to support the proliferation of its brands internationally, initially in Canada through its acquisition of Canadian retailer 180 Smoke. Origin House’s shares trade on the 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.

For further inquiries, please contact:

General
info@originhouse.com
1-844-556-5070

Investors
Jonathan Ross, CFA
LodeRock Advisors Inc.
jon.ross@loderockadvisors.com
416-283-0178

Media
Priyam Chakraborty
Senior Communications Manager, Origin House
pchakraborty@originhouse.com
647-232-9287

IBF4