Cannabis Growth Opportunity Corporation Announces NAV of $3.03

TORONTO, Oct. 17, 2018 /PRNewswire/ - Cannabis Growth Opportunity Corporation (CSE: CGOC), ("CGOC", or the "Company"), 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 $3.03 at the close of business on October 15, 2018. This represents growth of 30.8% since our Initial Public Offering at the beginning of this year.

CGOC is now over 98 percent invested in companies operating in Canada, the U.S., Jamaica and Israel. Information about the company's holdings is available at www.cgocorp.com. CGOC's top ten public investments as of October 15, 2018 (in alphabetical order) are: Aldershot Resources (TSX-V : ALZ), C21 Investments (CSE : CXXI), Canopy Growth (TSX : WEED), CannTrust (TSX : TRST), Indiva Ltd. (TSX-V : NDVA), HEXO Corp. (TSX : HEXO), Organigram (TSX-V : OGI), Planet 13 (CSE : PLTH), Valens GroWorks (CSE : VGW), and Village Farms (TSX : VFF). These holdings represent 45 percent of the company's overall portfolio. CGOC's private investments represent approximately 37 percent of the public portfolio and have not been marked up since July 3, 2018, as CGOC's approach when adjusting the private portfolio is to only adjust valuations when a material subsequent event occurs. More information on CGOC's private portfolio is available at http://cgocorp.com/private-investment/.

Jamie Blundell, President and Chief Operating Officer of CGOC commented, "We believe that the increase in our NAV as announced today, illustrates how an actively managed, diversified portfolio  can optimize the growth potential of the cannabis industry," We also see good potential for improvements in our investment valuation as our private investments continue to achieve their milestones, and as they move towards becoming publicly traded entities themselves. Our mixed investment approach has allowed 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."

October Webinar
CGOC will host it's next webinar on Thursday, October 25 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. 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/.

A recording of the webinar will be available at www.cgocorp.com/investors/ on October 25 at 6:30 pm EDT. Previous webinars can be found there as well.

Special Meeting of Shareholders and Voting Assistance
The Special Meeting being held on October 19, 2018, is to approve the removal of investment restrictions prohibiting investments of more than 40% of total assets in securities of private issuers and investing more than 10% of total assets in securities of any single issuer. As outlined in the Management Information Circular ("Info Circular"), dated September 12, 2018, the Board of Directors and Management believes that these investment restrictions unduly restrict the Corporation's flexibility and its ability to respond to quickly changing market conditions. CGOC's unique investment strategy is predicated on the ability to invest in private companies ahead of their offering into the public markets allowing CGOC to maintain the early mover advantage ahead of large institutions and the general public.

CGOC received a favourable recommendation issued by ISS, recommending a FOR vote to their subscribers for the Public/Private Restriction and Concentration Restriction Resolutions, ISS noted "Vote FOR the proposed amendments to the company's investment restrictions due to sound strategic rationale in light of the rapidly changing market conditions in the cannabis sector.

Assistance in Voting
Shareholders that have additional questions regarding the information contained in the Ifco Circular, and for assistance in voting may contact the company's proxy solicitation agent Shorecrest Group Ltd., by phone: 1-888-637-5789, collect call outside North America at 1-647-931-7454, or by email: contact@shorecrestgroup.com.

Shorecrest will utilize the Broadridge QuickVote™ service to assist NOBOs with voting their shares. NOBOs may be contacted by Shorecrest Group to conveniently obtain a vote directly over the telephone.

Non-IFRS Measures

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/.

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.

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SOURCE Cannabis Growth Opportunity Corporation