OTTAWA, Dec. 30, 2019 /CNW/ – 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 its California distribution division, Continuum, has entered into a distribution agreement (the “Agreement”) with California-based boutique cannabis brand Kings Garden Inc. (“Kings Garden”) to be the exclusive distributor of all Kings Garden products in California. In Q3 2019, Kings Garden was ranked as one of the leading flower brands in California, recording the second highest unit sales growth from Q1 to Q3 2019 in the state1.
“Kings Garden is one of the state’s most prominent cannabis companies with a reputation for craft premium cannabis products,” stated Marc Lustig, Chairman and CEO of Origin House. “The Kings Garden brand has been one of Continuum’s top sellers across its state-wide distribution platform. We look forward to continuing to strengthen our partnership on an exclusive basis. This Agreement is aligned with our stated strategy to build and support category winners, solidifying Kings Garden within our house of brands.”
Pursuant to the Agreement, Continuum will be the exclusive distributor of all Kings Garden branded products, for an initial term of one year, across California, and will further have the exclusive right to distribute any new branded products introduced by Kings Garden. With Continuum’s statewide reach, it is best positioned to launch Kings Garden’s Rho PhytoTM line of proprietary cannabis-based phyto-therapeutics in Q1 2020.
Michael King, Chairman and CEO of Kings Garden commented, “We have been working with the team at Origin House and Continuum for the past year and a half and are excited to advance this partnership through today’s announcement. The Agreement will accelerate growth of our boutique product assortment, allowing us to reach more consumers in California, increase market share, and position the company for future expansion.”
“We are excited to formalize our relationship with Continuum and Origin House for the distribution of all branded Kings Garden products. Our large-scale production paired with their wide reach and best-in-class distribution platform will help excel growth for all involved and guarantee product availability throughout the entire state of California,” added Charlie Kieley, Co-Founder and COO of Kings Garden.
Based in Coachella Valley, Kings Garden is a leading cannabis cultivation, processing and manufacturing company, specializing in boutique products such as premium flower, concentrates and vape cartridges. Kings Garden also recently entered into an agreement to manufacture, distribute and sell Rho PhytoTM line of therapeutic cannabis products, expanding into the topicals and tinctures product segments. With a total of 11 facilities in California with over 200k sq.ft. and a highly experienced cannabis management and operations teams, it has grown to become one of the most recognizable brands in the California market.
About Kings Garden
Kings Garden is California’s predominant cannabis cultivation, processing and manufacturing company, specializing in the world of top shelf, boutique products at an unsurpassed commercial scale. In an emerging industry filled with many newcomers, Kings Garden prides itself on having organized highly experienced cannabis management and operations teams and being one of the largest and most profitable cannabis companies.
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 six 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.
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, the future performance of King’s Garden branded products, the Company’s 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.
1 According to BDS Analytics, 2019
Get Real-Time Updates from MJobserver.com