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ORHOF - Merger Between Cresco Labs And Origin House: Massive Undervaluation
CannaRoyalty Corp
On April 1, 2019, Cresco Labs (CRLBF) and Origin House (ORHOF) reported a merger agreement that may create a new leader in the cannabis industry. What matters the most in this deal is that the companies are expecting revenues of $383 million in 2019. If this is correct, using an EV/Sales ratio of 20x, the total enterprise value should be larger than $3 billion. With this in mind, the fact that Cresco Labs has an enterprise value of $1.56 billion and Origin House has an enterprise value of $548 million represents