CannaRoyalty (CSE: $CRZ.C) (OTCQX: $CNNRF) Investee Rich Extracts Receives Commercial Cannabis Processing License in Oregon
OTTAWA, ONTARIO - May 19, 2017 (Investorideas.com Newswire) CannaRoyalty Corp. (CSE:CRZ) (CSE:CRZ.CN) (CNSX:CRZ) (OTCQX:CNNRF) ("CannaRoyalty" or the "Company") announced that the Company's investee, Rich Extracts LLC, has received a processing license from the Oregon Liquor Control Commission ("OLCC"), which allows it to begin producing cannabis products and wholesaling these products to licensed distributors and dispensaries throughout Oregon.
As previously announced CannaRoyalty has advanced approximately US$2.3 million in debt to Rich Extracts, and CannaRoyalty has the right to convert US$2.15 million of this debt into a 30% royalty stream on Rich Extracts' gross sales in perpetuity.
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