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Origin House Completes Acquisition of 180 Smoke

Published: 02/19/2019

Team: Cameron A. Mingay, Jay F. King, Alykhan Somani, Stefanie Sebanc, David Singh, James G. Morand, Tera Li Parizeau, Mike R. Tallim, Melissa Winch

On February 19, 2019, CannaRoyalty Corp. d/b/a Origin House, a leading North American cannabis products and brands company, completed its acquisition of 180 Smoke and its affiliates. The consideration paid on closing of the acquisition was comprised of gross proceeds of $2.8 million in cash and 3,294,453, Origin House common shares, such shares representing approximately $30.5 million based on the closing share price on February 19, 2019. Up to an additional $15 million in common shares may be issued upon the vendors' successful completion of certain milestone obligations during the three calendar years from 2019 to 2021.

Cassels Brock acted for Origin House with a deal team that included Cam Mingay, Jay King, Aly Somani, Stefanie Sebanc and David Singh (Securities, M&A and Cannabis), Jim Morand and Tera Li Parizeau (Tax), Mike Tallim (Financial Services) and Melissa Winch (Municipal, Planning & Environmental).