Business
Olive Resource Capital Announces August 31, 2022 NAV of C$0.075 per Share
Toronto, Ontario--(Newsfile Corp. - September 7, 2022) - Olive Resource Capital Inc. (TSXV: OC...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces August 31, 2022 NAV of C$0.075 per ShareToronto, Ontario--(Newsfile Corp. - September 7, 2022) - Olive Resource Capital Inc. (TSXV: OC) (\"Olive\" or the \"Company\") is pleased to provide investors an updated, unaudited Net Asset Value (\"NAV\") per share. Management has estimated the NAV of the Company at C$0.075 per share for August 31, 2022 (Table 1). At the end of August, the Company's price per share was C$0.04.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $2,539,050 $0.025 Black Sheep Income Corp.Private $900,588 $0.009 Nevada Zinc Corp.NZN:TSXv $622,260 $0.006 Minera Alamos Inc.MAI:TSXv $606,375 $0.006 The Newly Institute.Private $499,140 $0.005 Other Investments & Working Capital $2,313,929 $0.023 Total $7,481,342 $0.075  Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"The month of August saw a brief commodity rally, followed by yet another significant drawdown into month end. U.S. dollar liquidity continues to be in high demand, as demonstrated by the DXY Index reaching a 20-year high. Junior resource equities continue to underperform with this global set up. Olive continues to maintain above average cash and liquidity.\"Derek Macpherson, Executive Chairman stated: \"The recent acquisition of the majority CannaIncome Fund's Assets is starting to show benefits. One of the significant assets acquired has just completed the process to come public and is expected to start trading later this week, moving approximately 2.5% of Olive's portfolio from private to public, and improving our overall liquidity. Despite challenging markets, we continue to focus on expanding our asset base and on maximizing the value of our large holdings.\"Olive Resource Capital Inc. has 100,394,748 common shares outstanding.Use of Non-GAAP Financial Measures:This press release contains references to NAV or \"net asset value per share\" which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure pres...