TORONTO, Jan. 22, 2020 /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 $2.46 at the close of business on January 15, 2020 and $2.42 at the close of business on December 16, 2019.
The Company has share purchase warrants ("CGOC Warrants"), which currently trade on the Canadian Securities Exchange ("CSE") under the symbol "CGOC.WT".
As per the rules of the CSE governing distributions (Policy 6 – 7.4), the Company is unable to extend the term of the CGOC Warrants, "listed issuers are not permitted to change, modify or amend the characteristics of outstanding warrants or other convertible securities other than pursuant to standard anti-dilution terms. For greater certainty, the fact that a convertible security will expire out of the money is not an exceptional circumstance." Policy 6-7.4.1, goes on to state that amendments would be considered as long as the warrants are not listed for trading.
About 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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Non-IFRS Measures 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: please contact Cannabis Growth Opportunity Corporation: Sean Conacher, CEO, Website: www.cgocorp.com, Investor Relations Email: [email protected]