Olive Resource Capital Announces May 31, 2023 NAV of C$0.059 per Share

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Olive Resource Capital Announces May 31, 2023 NAV of C$0.059 per ShareToronto, Ontario--(Newsfile Corp. - June 6, 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$0.059 per share for May 31, 2023 (Table 1). At the end of May, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $2,487,757 $0.022 Black Sheep Income Corp.Private $1,262,256 $0.011 Nevada Zinc Corp.NZN:TSXv $540,102 $0.005 Guided Therapeutics Inc.Private $411,438 $0.004 Working Capital1 & Liquid Investments2Private $863,262 $0.008 Other Investments $1,051,556 $0.009 Total $6,616,370 $0.059  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 posted negative returns during the month of May. Weaker economic data ranging from China to Germany led to increased concerns of an impending global economic recession. On the monetary side, major central banks around the world continue to tighten monetary conditions. The U.S. dollar index rose for the first time in three months, reducing the appetite for risk and for natural resource equities.\" Derek Macpherson, Executive Chairman, stated: \"We were able to preserve portfolio value in May, despite weak markets. This was driven by a move to cash in our liquid portfolio and our larger less liquid and private investments maintaining value. Importantly, the Company continues to maintain significant liquidity, positioning it to take advantage of market weakness.\" 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 measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outs...

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