Cresco closes acquisition of Origin House

On January 8, 2020, Cresco Labs Inc. ("Cresco Labs") announced the closing of the previously announced acquisition of CannaRoyalty Corp., doing business as Origin House ("Origin House"), by way of a plan of arrangement.

Pursuant to the terms of the arrangement, holders of common shares of Origin House received 0.7031 subordinate voting shares of Cresco for each Origin House common share held, and holders of class A compressed shares of Origin House ultimately received 70.31 Cresco shares for each Origin House compressed share held. In total, Cresco acquired 94,558,120 Origin House common shares (on an as converted basis) in exchange for 66,483,798 Cresco shares.

Further information can be found on Canada Newswire's website.

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.

Cresco Labs, based in Chicago, is one of the largest vertically-integrated multi-state cannabis operators in the United States.