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Norvista Capital Issues Correction to Its Announcement of New Core Investment: Great Bear Royalties
Toronto, Ontario--(Newsfile Corp. - September 10, 2021) - Norvista Capital Corporation (TSXV: ...
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[{"type":"text","content":"Norvista Capital Issues Correction to Its Announcement of New Core Investment: Great Bear RoyaltiesToronto, Ontario--(Newsfile Corp. - September 10, 2021) - Norvista Capital Corporation (TSXV: NVV) (\"Norvista\" or the \"Company\") would like to announce that at the request of the Independent Regulatory Organization of Canada the press release issued under the title \"Norvista Capital Announces New Core Investment: Great Bear Royalties\" is withdrawn and no reliance should be placed on it. The following press release contains clarifying disclosure. Norvista Capital Announces New Core Investment: Great Bear Royalties - CorrectedTORONTO, September 9, 2021 - Norvista Capital Corporation (TSXV: NVV) (\"Norvista\" or the \"Company\") is pleased to announce a new core investment in its portfolio, Great Bear Royalties Corp. (TSXV: GBRR). Over the last three months the Company has accumulated a position of 79,467 shares (as at August 31, 2021) at an average cost of $3.99 per share for an aggregate investment of $317,270, representing approximately 3.5% of Norvista's recently announced August 31, 2021 NAV of C$0.126 per share.Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"We think Great Bear Royalties is undervalued based on our research of the deposit, comparable transactions, and possible mine plans for the Dixie Project.\" Mr. Pelaez continued, \"The 2% NSR it holds on the Dixie Project, in our view is a Tier 1 Royalty, which is very scarce and we believe the market is underestimating the scale and potential upside of the anticipated maiden resource at Dixie. We expect that the coming news flow over the medium term should act as the catalyst to re-rate this stock.\"Norvista's Investment Thesis on Great Bear Royalties:Royalties on Tier 1 Assets are Scarce: Norvista's view is that this type of royalty has the potential to be a cornerstone asset of a larger royalty company. Potential for Enhanced Valuation: By applying consensus estimates on the Dixie Project to Great Bear Royalties, it suggests that it trades at a discount to royalty peers (P/NAV 0.5x vs peers at 1.2x). The Shares of Great Bear Royalties were purchased through the facilities of the TSX Venture. Norvista is arm's length to Great Bear Royalties. Norvista's assessment of Great Bear Royalties is based on information disclosed in public announcements...