Olive Resource Capital Announces February 28, 2023 NAV of C$0.064 per Share

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Olive Resource Capital Announces February 28, 2023 NAV of C$0.064 per ShareToronto, Ontario--(Newsfile Corp. - March 15, 2023) - 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$0.064 per share for February 28, 2023 (Table 1). At the end of February, the Company's price per share was C$0.035.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF: CSE $2,073,131 $0.019 Black Sheep Income Corp.Private $1,251,340 $0.011 Nevada Zinc Corp.TSXV: NZN $990,187 $0.009 The Newly InstitutePrivate $480,867 $0.004 Guided Therapeutics Convertible DebenturePrivate $425,520 $0.004 Working Capital & Other Investments $1,919,704 $0.017 Total $7,140,749 $0.064  Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"Major commodities dropped in the month of February, and the U.S. dollar index rebounded after the Federal Reserve communicated it would likely continue its aggressive rate hiking cycle. Both large and small cap resource equities ended the month on strong downtrends.\" Derek Macpherson, Executive Chairman stated: \"This month we were pleased to see progress in some of the large private holdings that we acquired last year, partially offsetting the impact of Rockcliff's share price decline. In particular, Black Sheep has been able to continue to grow in an accretive manner, completing the acquisition of two additional income generating properties with a concurrent round of equity financing at a higher price.\"As of February 28, 2023, Olive Resource Capital Inc. has 111,768,709 common shares outstanding. The ongoing normal course issuer bid, did not purchase any shares in February.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 presented in the Company's consolid...

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