June 18, 2019 –
Toronto, ON – 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 $3.27 at the close of business on June 14, 2019. This represents growth of 41% since our Initial Public Offering on January 26, 2018, or 18% year to date.
CGOC is now approximately 99% percent invested in companies operating in Canada, the U.S., Europe. Jamaica and Israel. CGOC’s top ten public investments as of June 14, 2019 (in alphabetical order) are Jushi Holdings Inc (NEX: JUSH.B), Grassroots Cannabis, (not yet listed), Heritage Cannabis (CSE: CANN), LPF Investment Corp (not yet listed), Nextleaf Solutions Ltd. (CSE: OILS), TerrAscend Corp. (CSE: TER), Planet 13 Holdings Inc (CSE: PLTH), Village Farms International Corp. (TSX: VFF), Vireo Health Inc. (CSE: VREO) and VIVO Cannabis (TSX-V: VIVO).
Jamie Blundell, President and Chief Operating Officer of CGOC commented, “CGOC realized a loss of 4% over last month compared to the North American Marijuana Index, which realized a 16% loss. The loss this month was mainly attributed to the continued overall decline in cannabis markets however, the private portfolio (including the go public event for Jushi Holdings Inc., on June 10), offset the decline of the total portfolio.
“With the share price also declining by approximately 23% over the previous month, the discount to NAV currently sits at 47%. There are a number of catalyst events expected in the coming months which should provide a positive impact for CGOC.“
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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For further information please contact Cannabis Growth Opportunity Corporation:
|Jamie Blundell, President & COO||Website: www.cgocorp.com|
|Tel: (647) 946-2462||Investor Relations Email: email@example.com|
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.