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Olive Resource Capital Announces January 31, 2023 NAV of C$0.069 per Share
Toronto, Ontario--(Newsfile Corp. - February 9, 2023) - Olive Resource Capital Inc. (TSXV: OC) ( ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces January 31, 2023 NAV of C$0.069 per ShareToronto, Ontario--(Newsfile Corp. - February 9, 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$0.069 per share for January 31, 2023 (Table 1). At the end of January, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF: CSE$2,902,383$0.026Nevada Zinc Corp.NZN: TSXV$990,187$0.009Black Sheep Income Corp.Private$919,546$0.008The Newly Institute.Private$480,867$0.004Guided Therapeutics Inc. Convert. Deb.GTHP: OTC$390,688$0.003Other Investments & Working Capital$2,061,347$0.018Total7,745,019$0.069 Samuel Pelaez, the Company's President, CEO, CIO and Director, stated: \"Liquidity returned to capital markets in the month of January. Expectations for a slower pace of interest rate increases around the world led to a weaker U.S. dollar and risk capital flowing to riskier assets. A surprising injection of liquidity from China's Central Bank, which took its balance sheet to an all-time high, helped propel major commodity markets higher.\" Derek Macpherson, Executive Chairman, stated: \"The rally in commodities in January along with the abatement of tax loss selling, benefited both are larger more liquid mining investments and a number of the smaller companies that we hold within the portfolio. Most notably these factors, along with the initiation of drilling increased Rockcliff Metals share price in January having the largest positive impact on Olive's NAV per share.\"On January 25, 2023 the Company completed issuance of an aggregate of 1,000,000 common shares of the Company at an implied issue price of C$0.04 per common share to partially satisfy the indebtedness owing to a former officer of the Company. The common shares issued are subject to a four month hold period. The Company does not have any outstanding claims or legal proceedings against it. For more information, please read the press release found at: https://olive-resource.com/olive-resource-capital-inc-announces-shares-for-debt-settlement/During the month of January, Olive repurchased 200,000 shares at an average price of $0.0325 per share pursuant to t...