August 19, 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 $2.96 at the close of business on August 15, 2019. This represents growth of 28% since the Initial Public Offering (“IPO”), on January 26, 2018, and 7% 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 39% and 61% respectively. CGOC’s top ten public investments as of August 15, 2019 (in alphabetical order) are: Bhang Inc (CSE: BHNG), Grassroots Cannabis, (not yet listed), Heritage Cannabis (CSE: CANN), Indiva Limited (TSXV: NDVA), Indus Holdings Inc. (CSE: INDS), (Jushi Holdings Inc (NEX: JUSH.B), Next Green Wave (CSE: NGW), Nextleaf Solutions Inc. (CSE: OILS), TerrAscend Corp. (CSE: TER), 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 compared to the North American Marijuana Index, which realized a 12% loss. However, since CGOC’s IPO, our NAV has grown by 28% compared to the NAMMAR, as well as a number of other market indices which declined by an average of 42% in the same time period. The loss this month is attributed to the continued overall decline in cannabis markets. We continue to experience downward pressure however, the overall portfolio’s negative performance is offset by the private portfolio holdings.
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.