Cannabis Growth Opportunity Corporation Announces NAV of $3.21
TORONTO, March 19, 2019 /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 $3.21 at the close of business on March15, 2019. This represents growth of 39% since our Initial Public Offering on January 26, 2018.
CGOC is now approximately 87% percent invested in companies operating in Canada, the U.S., Jamaica and Israel. CGOC's top ten public investments as of March 15, 2019 (in alphabetical order) are: Aurora Cannabis (TSX: ACB), C21 Investments Corp. (CSE : CXXI), Cannex Capital Holdings Inc. (CSE : CNNX), CannTrust Holdings Inc. (TSX : TRST), Heritage Cannabis (CSE: CANN), Organigram Holdings Inc. (TSX-V : OGI), Planet 13 Holdings Inc. (CSE: PLTH), Valens Groworks Corp. (CSE : VGW), Village Farms Inc. (TSX : VFF), and VIVO Cannabis (TSX-V : VIVO).
Jamie Blundell, President and Chief Operating Officer of CGOC commented, "CGOC realized a gain of 7% over last month compared to the North American Marijuana Index, which realized a 4.9% increase. While the share price has improved significantly since the beginning of 2019, the discount to NAV remains large at a 38% discount.
"We are currently focused on a number of initiatives to enhance market awareness for CGOC and the tremendous investment opportunity that exists. This recent increase in our NAV clearly illustrates the benefit of the diversified and actively managed portfolio of public and private investments. There are a number of near-term catalyst events within the private portfolio which should positively impact our NAV, and as such, demonstrate the value proposition that exists with an investment in CGOC."
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.
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: Cannabis Growth Opportunity Corporation: Jamie Blundell, President & COO,Tel: (647) 946-2462, Website: www.cgocorp.com, Investor Relations Email: [email protected]
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