ORIGIN HOUSE ANNOUNCES EARNINGS RELEASE DATE FOR SECOND QUARTER OF 2019
CannaRoyalty Corp. (doing business as Origin House) will release its financial results for the second quarter ended June 30, 2019, on Aug. 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.