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Olive Resource Capital Announces March 31, 2023 NAV of C$0.065 per Share
Toronto, Ontario--(Newsfile Corp. - April 12, 2023) - Olive Resource Capital Inc. (TSXV: OC) ( "O...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces March 31, 2023 NAV of C$0.065 per ShareToronto, Ontario--(Newsfile Corp. - April 12, 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$0.065 per share for March 31, 2023 (Table 1). At the end of March, the Company's price per share was C$0.035.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE$2,073,131$0.019Black Sheep Income Corp.Private$1,258,923$0.011Nevada Zinc Corp.NZN:TSXV$1,080,204$0.010The Newly InstitutePrivate$480,867$0.004Guided Therapeutics Convertible DebenturePrivate$402,188$0.004Working Capital & Other Investments$1,932,793$0.017Total$7,228,106$0.065 Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"Gold was the best performing major commodity in March, as banking crisis headlines dominated the news. Meanwhile, copper and industrial metals were flat to down, and crude oil posted a fifth consecutive monthly decline. Macroeconomic data continues to suggest we are in a slowing economy, and the fiscal and monetary impulse is fading.\" Derek Macpherson, Executive Chairman stated: \"Our portfolio which is heavily weighted towards base metals and privates, benefited from an increased allocation to gold in the liquid portfolio in March. We plan to continue to work to diversify and grow our portfolio, via additional acquisitions and improving our large legacy positions. Additionally, we are workings towards the launch of an Olive backed, rollover flow-through fund.\"As of March 31, 2023, Olive Resource Capital Inc. has 111,768,709 common shares outstanding. The ongoing normal course issuer bid repurchased 100,000 shares during the month March. These securities are currently held in treasury pending cancellation.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 presente...