Origin House Receives Overwhelming Support for Cresco Labs Merger

Of votes cast to date, 99.54% are in favour of the Arrangement.
Institutional Shareholder Services Inc. (“ISS“), a leading independent proxy advisory firm, has recommended that shareholders of Origin House vote FOR the Arrangement.
Shareholder voting deadline is Friday, June 7, 2019 at 10:00 am ET with Special Meeting of Shareholders to be held on Tuesday, June 11th, 2019.

OTTAWA, June 5, 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, based on the votes cast to date, the Company has received overwhelming support in respect of the statutory plan of arrangement (the “Arrangement“) pursuant to which Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (“Cresco Labs“) will acquire all of the issued and outstanding shares of Origin House. Of the votes cast, 99.54% are in FAVOUR of the Arrangement, with votes representing 42.80% of all eligible votes having been cast to date. The Board of Directors of Origin House encourages shareholders to vote in FAVOUR of the Arrangement, before the deadline of Friday, June 7, 2019 at 10:00 am ET.

Additionally, the Company is pleased to announce that ISS, a leading independent proxy advisory firm, has recommended that shareholders of Origin House vote FOR the Arrangement. In its report, ISS notes that “the proposed Arrangement makes strategic sense given the implied premium to the unaffected price of the Company’s shares”.

Under the terms of the Arrangement, Origin House shareholders will ultimately receive 0.8428 of a subordinate voting share of Cresco Labs (“Cresco Labs Share“) for each common share of Origin House held and 84.28 Cresco Labs Shares for each class A compressed share of Origin House held. The board of directors of Origin House unanimously recommends that shareholders vote FOR the Arrangement.

Additional information in relation to the Arrangement can be found in the management information circular dated May 13, 2019. The meeting materials are available on Origin House’s website at originhouse.com and filed under Origin House’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

The special meeting of Origin House shareholders will be held at the offices of Norton Rose Fulbright Canada LLP located at Royal Bank Plaza, South Tower, Suite 3800, 200 Bay Street, Toronto, Ontario, at 10:00 a.m. (Toronto time), on June 11, 2019.

Shareholder Questions and Assistance

If you have any questions or require assistance voting your shares, please contact our strategic shareholder advisor and proxy solicitation agent, Kingsdale Advisors, at 1-888-302-5677 toll-free in North America, or call collect outside North America at +1-416-867-2272, or by e-mail at contactus@kingsdaleadvisors.com.

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 foundation is in California, the world’s largest regulated cannabis market, where it delivers over 130 branded cannabis products from 50+ brands 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. Origin House 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 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.

Source: Origin House

Original press release