TORONTO, Aug. 16, 2018 /CNW/ - Cannabis Growth Opportunity Corporation (CSE: CGOC), a cannabis focused investment corporation with both public and private cannabis holdings, today announced that its net asset value (NAV) per common shares, as of close of business on August 13, 2018, was estimated at $2.28, a decrease of -6.56 percent over last month, out-performing key industry benchmarks.
CGOC's estimated NAV was released during its monthly webinar. A recording of the webinar will be available on the company's website at www.cgocorp.com/investors/ on August 17, 2018 by 1:00 pm EDT.
CGOC is now over 95 percent invested in companies operating in Canada, the US, Jamaica and Israel. The top ten public investments as of August 13, 2018 (in alphabetical order) are: Aldershot Resources, C21 Investments, Canopy Growth, Hydropothecary, Indiva, Organigram, Planet 13, Sunniva, Valens Groworks, Vivo Cannabis. These holdings represent 38.69 percent of the company's overall portfolio. The company's private holdings are available on their website at www.cgocorp.com/private-investment/.
"While the emerging cannabis industry is expected to create significant value in the long-term, the short-term remains volatile, as seen in the value declines across the industry over the past month." says Jamie Blundell, President and Chief Operating Officer of CGOC. "Our strategy of actively managing a diversified portfolio of both public and private investments has been critical in navigating this volatility, and has resulted in a portfolio value performance well above key industry benchmarks. At the August 13 close, the portfolio was trading at a 27.6% discount to the NAV, a level we expect to narrow as shareholders recognize the performance of our team."
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.
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/.
SOURCE Cannabis Growth Opportunity Corporation
For further information: Jamie Blundell, President and Chief Operating Officer, Cannabis Growth Opportunity Corporation, 647-946-2205, [email protected]