Cannabis Growth Opportunity Corporation Announces NAV of $3.54
TORONTO, April 17, 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 $3.54 at the close of business on April 15, 2019. This represents growth of 53% since our Initial Public Offering on January 26, 2018, or 27.8% year to date.
CGOC is now approximately 98% percent invested in companies operating in Canada, the U.S., Jamaica and Israel. CGOC's top ten public investments as of April 15, 2019 (in alphabetical order) are: Indus Holding Company (not yet public), C21 Investments Corp. (CSE : CXXI), Cannex Capital Holdings Inc. (CSE : CNNX), GR Companies Inc (note yet public), ICC International Cannabis Corporation (CSE: WRLD.U), Indiva Limited (TSX-V: NDVA), LPF Investment Corp. (not yet public), Ravenquest BioMed Inc. (CSE: RQB), Vireo Health Inc. (CSE: VREO) and VIVO Cannabis (TSX-V : VIVO).
Jamie Blundell, President and Chief Operating Officer of CGOC commented, "CGOC realized a gain of 10% over last month compared to the North American Marijuana Index, which realized a 4% loss. The gain this month was strengthened by the go public transaction of Vireo Health on March 20, 2019 (CSE: VREO), where we continue to hold Vireo in the public portfolio as we believe it remains undervalued compared to its peers and continues to be an attractive investment. We are very pleased with the performance as illustrated by our NAV, especially the extremely quick materialization of the value proposition of the private investments. Additional go public events anticipated in the coming months are Bhang Corporation (an award-winning product portfolio of over 100 cannabis and CBD products of Bhang-branded merchandise) and Jushi Inc. (an integrated multi-state owner and operator of cannabis and hemp licenses across the United States). We will continue to provide updates on these companies through our email blasts as information becomes available.
"We remain cognizant of the significant discount of our share price compared to our NAV. The silver lining in this discount is that while the share price continues to trend upwards, so does the NAV. Our market awareness initiatives have yielded positive results, and we continue on this front to ensure the CGOC opportunity is clearly and broadly disseminated to increase investor interest."
April Webinar
CGOC will host the April webinar this afternoon, Wednesday April 17, 2019 at 4:30 pm EDT during which company executives will provide a brief update on the business, review CGOC's performance, and provide an update on both the public and private holdings. Interested webinar attendees can Register Here or by visiting the website at http://cgocorp.com/webinars/.
A recording of the webinar will also be made available on the CGOC website no later than April 18, 2019. Previous webinars can be found there as well.
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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
please contact 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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