TORONTO, Sept. 19, 2018 /CNW/ - Cannabis Growth Opportunity Corporation (CSE: CGOC), ("CGOC", or the "Company"), a cannabis focused investment corporation with both public and private cannabis holdings, is pleased to announce the company's updated net asset value per common share ("NAV") of $2.96 at the close of business on September 17, 2018. This represents growth of 11.4 percent since September 4, 2018.
The Company also reminds shareholders of the Special Meeting of Shareholders to be held on October 15, 2018. Shareholders are being asked to consider and approve the removal of certain investment restrictions such as; restrictions prohibiting investments of more than 40% of total assets in securities of private issuers; and investing more than 10% of total assets in securities of any single issuer.A copy of the management information circular, which includes full details of the proposed changes, was mailed to shareholders of record as of the close of business on September 14, 2018 and is available on CGOC's SEDAR profile at www.sedar.com.
CGOC is now over 93 percent invested in companies operating in Canada, the U.S., Jamaica and Israel. Information about the company's holdings is available at www.cgocorp.com. CGOC's top ten public investments as of September 17, 2018 (in alphabetical order) are: C21 Investments, CannTrust, Canopy Growth, HEXO Corp., Indiva Ltd., Organigram, Planet 13, Solo Growth, Sunniva, and Valens GroWorks. These holdings represent 38.5 percent of the company's overall portfolio. CGOC's private investments represent approximately 38.7 percent of the overall portfolio and have not been marked up since July 3, 2018. More information on CGOC's private portfolio is available at http://cgocorp.com/private-investment/.
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.
About Cannabis Growth Opportunity Corporation (CGOC)
CGOC is a unique investment corporation incorporated under the laws of Canada. CGOC's investment objectives are to provide holders of common shares long-term total return through capital appreciation by investing in an actively managed portfolio of securities of public and private companies operating in, or that derive a portion of their revenue or earnings from, products or services related to the cannabis industry. http://cgocorp.com/.
This press release is not an offer of securities for sale in the United States, and the securities described in this press release may not be offered or sold in the United States absent registration or an exemption from registration. The securities have not been and will not be registered under the United States Securities Act of 1933.
SOURCE Cannabis Growth Opportunity Corporation
For further information: Jamie Blundell, President and Chief Operating Officer, Cannabis Growth Opportunity Corporation, 647-946-2205, [email protected]