TORONTO, Dec. 19, 2018 /CNW/ - Cannabis Growth Opportunity
Corporation ("CGOC", or the "Company") (CSE: CGOC), 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
$2.40 at the close of business on December 17, 2018. This represents
growth of 3.5% since our Initial Public Offering at the beginning of this year.
CGOC is now approximately 92% percent invested in companies operating in Canada, the U.S.,
Jamaica and Israel. CGOC's top ten public investments as of
December 17, 2018 (in alphabetical order) are: C21 Investments Corp. (CSE : CXXI), Cannex Capital
Holdings Inc. (CSE : CNNX), CannTrust Holdings Inc. (TSX : TRST), Indiva Limited (TSX-V : NDVA), LPF Investment Corp (in
the process of going public), Organigram Holdings Inc. (TSX-V : OGI), Sunniva Inc. (CSE : SNN), 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 loss of 8.75% over last month compared to the North American Marijuana Index, which saw a 35.24% decrease. We continued to see
downward pressure in the sector, compounded by tax loss selling this month. However, the NAV has remained relatively stable
throughout a very volatile year. As well, one of our private holdings was acquired earlier this year while others realized
subsequent liquidity events all of which reinforces the investment thesis of the diversified portfolio.
"Over the past 10 months of CGOC being in operation we have seen a continued evolution of regulations and legalization within
new jurisdictions. As well, there were a number of significant catalyst events within the industry that drove the sector in both
directions. We truly believe that as we market the benefits of an actively managed and truly diversified portfolio, that offers
exposure to private as well as public companies, and as we announce the positive liquidity and milestone events of our private
holdings, that CGOC will resonate with investors, and should provide a positive impact to our valuation going forward."
Update on Normal Course Issuer Bid ("NCIB")
Through the previously announced NCIB, as at the close of business on December 17, 2018,
the Company has purchased a total of 110,400 common shares at an average price of $1.17 per share.
All shares have subsequently been cancelled. Through the NCIB, CGOC has the ability to purchase up to an aggregate of 782,607
common shares up until November 26, 2019.
Next Webinar
With the Holiday season right around the corner, the next webinar will be held in January
2019. The monthly NAV for January will be calculated as of the close of business on January
15th, and released shortly thereafter, followed by the webinar.
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
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