Olive Resource Capital Announces June 30, 2023 NAV of C$0.066 per Share

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Olive Resource Capital Announces June 30, 2023 NAV of C$0.066 per ShareToronto, Ontario--(Newsfile Corp. - July 11, 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$0.066 per share for June 30, 2023 (Table 1). At the end of May, the Company's price per share was C$0.035.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $3,317,010 $0.030 Black Sheep Income Corp.Private $1,303,515 $0.012 Nevada Zinc Corp.NZN:TSXv $540,102 $0.005 Guided Therapeutics Inc.Private $381,184 $0.003 Working Capital & Liquid Investments $438,304 $0.004 Other Investments $1,432,171 $0.013 Total $7,412,286 $0.066  Working Capital is calculated as cash, minus management's estimate for known liabilities and is subject to change with future estimates or financial reports.Olive defines Liquid Investments as investments whose position can be liquidated in less than one day's average trading volume for that security.Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"Major commodities and resource sectors posted range-bound performance for the month of June. Widely anticipated pauses in Central Bank tightening cycles materialized. In spite of this, monetary conditions continue to tighten globally as measured by the monetary base. We remain cautious as major commodities remain in downtrend channels.\" Derek Macpherson, Executive Chairman stated: \"The increase to our NAV is driven by the performance of Rockcliff, because of its definitive agreement with HudBay Minerals. We view this transaction as beneficial for Olive shareholders and the anticipated change in Olive's liquidity will allow the Company to better balance its investment portfolio and take advantage of the investment opportunities presented by current market conditions.\"The ongoing normal course issuer bid repurchased 800,000 shares during the month June These securities are currently held in treasury pending cancellation.As of the date of this release Olive Resource Capital Inc. has 111,768,709 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 me...

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