July 17, 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 $3.11 at the close of business on July 15, 2019. This represents growth of 34% since the Initial Public Offering (“IPO”), on January 26, 2018, and 12% 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 36% and 65% respectively. CGOC’s top ten public investments as of July 15, 2019 (in alphabetical order) are: Bhang Inc (CSE: BHNG), Grassroots Cannabis, (not yet listed), Heritage Cannabis (CSE: CANN), Jushi Holdings Inc (NEX: JUSH.B), LPF Investment Corp (not yet listed),Next Green Wave (CSE: NGW), Planet 13 Holdings Inc (CSE: PLTH), TerrAscend Corp. (CSE: TER), 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 5% over last month in-line with the North American Marijuana Index, which also realized a 5% loss. However, since CGOC’s IPO, our NAV has grown by 34% compared to the NAMMAR, as well as a number of other market indices which declined by an average of 36%. The loss this month was mainly attributed to the continued overall decline in cannabis markets offset by the private portfolio (including the go public event for Bhang Inc., on July 11). While we continue to see the market struggle through the summer months (similar to what was experienced last year), we note that the portfolio is performing well, which reinforces our belief that access to both public and private investments adds to the long-term value.
Next Webinar To Be Held In September
Please note the Company’s next webinar will be held in September, shortly after the September NAV announcement.
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.