CGOC Announces Intention to Commence Normal Course Issuer Bid; Provides Investor Communications Update

Published: March 2, 2020

CGOC Announces Intention to Commence Normal Course Issuer Bid; Provides Investor Communications Update

Cannabis Growth Opportunity Corporation (“CGOC), a cannabis focused investment corporation with both public and private cannabis holdings, announced today its intention to commence a normal course issuer bid (the “NCIB”). Furthermore, the Company also provided an investor communications update.

Normal Course Issuer Bid

Under the NCIB, the Company may purchase up to 5% of the issued and outstanding common shares of the Company (the “Common Shares“), with no more than 1% purchased in any calendar month. The Company is commencing the NCIB because it believes that, from time to time, the market price for its Common Shares may not properly reflect the Company’s tangible asset value and future growth prospects. At such times, any repurchase of the Company’s Common Shares for cancellation is expected to enhance shareholder value and is believed to be an appropriate use of the Company’s working capital and financial resources.

The NCIB is expected to commence on or around March 9, 2020 and shall terminate on the twelve-month anniversary of the effective date. All Common Shares purchased under the NCIB will be purchased on the open market through the facilities of the Canadian Securities Exchange (the “CSE“). It is expected that the Company will appoint Canaccord Genuity Corp. to coordinate and facilitate its NCIB purchases. Furthermore, all purchases made under the NCIB will be at the prevailing CSE market price for such Common Shares, at the time of purchase, and shall be duly cancelled and returned to treasury.

Investor Communications Update

CGOC is pleased to announce that the Company is in the process of relaunching its website that is expected to be released on or around April 1, 2020 under its current domain, www.cgocorp.com. This initiative is expected to provide investors with a fresh new look, investors tab and updated information regarding the Company’s investment portfolio. In the interim, CGOC would like to inform investors and business contacts that it has changed its phone number to (647) 660-0566.

Furthermore, the Company would also like to inform shareholders that it is changing its investor communications policy to report the Company’s results of operations on a quarterly basis. As such, CGOC will discontinue its monthly net asset value reporting, effective immediately. From time to time, the Company will provide updates to shareholders regarding material news and events that management deems appropriate.

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.