Cannabis Growth Opportunity Corporation Announces NAV of $2.60
October 18th, 2019
TORONTO, Oct. 18, 2019 /CNW/ – Cannabis Growth Opportunity Corporation (“CGOC“, or the “Company“) (CSE: CGOC), a cannabis-focused investment corporation with both public and private cannabis holdings, announces the company’s updated net asset value per common share (“NAV“) of $2.60 at the close of business on October 15, 2019. This represents growth of 12% since the Initial Public Offering (“IPO“), on January 26, 2018, and a decrease of 6% year to date.
CGOC is invested in companies operating in Canada, the U.S., Europe, Latin America, Jamaica and Israel, with an investment split across the private and public portfolios of 40% and 60% respectively. CGOC’s top ten public investments as of October 15, 2019 (in alphabetical order) are: Bhang Inc (CSE: BHNG), Grassroots Cannabis, (not yet listed), Heritage Cannabis (CSE: CANN), Jushi Holdings Inc. (NEO: JUSH.B), LPF Investment Corp. (“Loudpack”, not yet listed) Next Green Wave (CSE: NGW), Planet 13 Holdings Inc. (CSE: PLTH), TerrAscend Corp. (CSE: TER), and Vireo Health Inc. (CSE: VREO).
Jamie Blundell, President and Chief Operating Officer of CGOC commented, “CGOC realized a loss of 9% over last month compared to the North American Marijuana Index, which realized a 23% loss. Since CGOC’s IPO, our NAV has grown by 12% compared to the NAMMAR, as well as a number of other market indices which declined by an average of 60% in the same time period.
“The private portfolio has contributed positively to the overall portfolio performance. We believe the ability to continue to invest in and even increase our investments into pre-IPO companies outside of Canada should remain a focus.”
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC’s main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
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NAV is a non-IFRS (international financial reporting standards) measure and was calculated based on the estimated value of CGOC’s investments less its liabilities, divided by the number of common shares outstanding. The term NAV does not have any standardized meaning according to IFRS and therefore may not be comparable to similar measures presented by other companies. Management believes that NAV can provide information useful to its shareholders in understanding its performance and may assist in the evaluation of its business relative to its peers.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Cannabis Growth Opportunity Corporation
For further information: For further information please contact Cannabis Growth Opportunity Corporation: Jamie Blundell, President & COO, Tel: (647) 946-2462, Website: www.cgocorp.com, Investor Relations Email: [email protected]
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