Cannabis Growth Opportunity Corporation Releases NAV and Special Meeting of Shareholders
Next CGOC investor webinar on September 11, 2018
TORONTO, Sept. 6, 2018 /CNW/ - Cannabis Growth Opportunity Corporation (CSE: CGOC), a cannabis focused investment corporation with both public and private cannabis holdings, today announced the company's updated net asset value per common share (NAV) was $2.66 at the close of business on September 4, 2018, a growth of 16.6 percent since August 13, 2018.
The Company is also pleased to announce that it will hold a special meeting of shareholders on October 15, 2018. At the meeting, shareholders will be asked to consider and, if deemed appropriate, to approve removing some of the investment restrictions including, but not limited to, restrictions prohibiting the Company from investing more than 40% of its total assets in securities of private issuers and investing more than 10% of its total assets in securities of any single issuer. A copy of the management information circular, which will include full details of the proposed changes, will be mailed to shareholders of record as of the close of business on September 14, 2018 and will be posted on CGOC's SEDAR profile at www.sedar.com.
CGOC is now over 95 percent invested in companies operating in Canada, the US, Jamaica and Israel. Information about the company's holdings is available at www.cgocorp.com. CGOC's top ten public investments as of September 4, 2018 (in alphabetical order) are: C21 Investments, Canopy Growth, Indiva Ltd., HEXO Corp., Organigram, Plant 13, Solo Growth, Sunniva, Valens GroWorks and Vivo Cannabis. These holdings represent 41.8 percent of the company's overall portfolio. CGOC's private investments represent approximately 44 percent (under 40% at cost) of the overall portfolio and have not been marked up since July 3, 2018.
CGOC will host it's next webinar on Tuesday, September 11 at 4:30 pm EDT during which company executives will discuss the rationale for the special shareholders meeting, CGOC's performance, and an update on both the public and private holdings. The webinar will be co-hosted by Jamie Blundell, President and Chief Operating Officer of CGOC, and Bruce Campbell, Chief Investment Officer. Interested webinar attendees can register at www.cgocorp.com/investors/.
"We believe that an actively managed, diversified portfolio is the best way to optimize the growth potential of the cannabis industry," says Blundell. "We're currently at a portfolio breakdown of 44 percent private and 53% public investments with the remainder being cash and other assets. This approach enables us to lever our early mover advantage with private investments while participating in the market potential of public investments to maximize the benefit for our investors."
A recording of the webinar will be available at www.cgocorp.com/investors/on September 11 at 6:30 pm EDT. Previous webinars can be found there as well.
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
Jamie Blundell, President and Chief Operating Officer, Cannabis Growth Opportunity Corporation, 647-946-2205, [email protected]
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