Toronto, Ontario–(Newsfile Corp. – December 6, 2021) – Norvista Capital Corporation (TSXV: NVV) (the “Company”) is pleased to provide investors an updated Net Asset Value (“NAV”) per share for the month ending November 30, 2021. Management has estimated the NAV of the Company at C$0.101 per share for November 30, 2021 (Table 1). At the end of November, the Company’s price per share was C$0.075.
Table 1: Norvista NAV Breakdown
|Name||Ticker||Value||Value per Share|
|Rockcliff Metals Corp.||RCLF:CSE||$||3,989,936||$||0.057|
|Minera Alamos Inc.||MAI:TSXv||$||1,642,680||$||0.023|
|Great Bear Royalties Corp.||GBRR:TSXv||$||532,602||$||0.008|
|Other Investments & Working Capital||$||916,517||$||0.013|
Samuel Pelaez, the Company’s President, CEO, CIO and Director stated: “The month of November saw big swings and high volatility in commodity markets. Expectations for Central Bank policy changes led to intra-month repositioning. In spite of these moves, mining equities ended roughly unchanged for the month. Tax loss continued to negatively affect the lesser liquid equities.“
Derek Macpherson, Executive Chairman stated: “Despite strong share price performance from Great Bear Royalties and the liquid portion of our portfolio performing well, some of our legacy core investments (Rockcliff and Nevada Zinc) all appeared to be victims of tax loss selling. In particular, Rockcliff which announced a new resource at Bur (see release here) and drill results from Copperman (see release here) saw share price declines month-over-month despite these positive fundamental catalysts.We expect these fundamental catalysts to eventually be reflected in the share price, as tax loss selling ends later this month.”
Derek Macpherson, Executive Chairman of Norvista is a director of Rockcliff Metals.
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 consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding the Company’s performance, and may assist in the evaluation of the Company’s business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP, and is not necessarily indicative of other metrics presented in accordance with GAAP. Existing NAV of the Company is not necessarily predictive of the Company’s future performance or the NAV of the Company as at any future date.
About Norvista (soon to be renamed Olive Resource Capital Inc.)
Norvista is a resource-focused merchant bank and investment company with a portfolio of publicly listed securities issued by companies engaged in precious and base metal exploration and development. The Company’s core investments include Minera Alamos Inc. and Rockcliff Metals Corporation.
For further information, please contact:
Derek Macpherson, Executive Chairman by email at email@example.com or by phone at 416-294-6713 or Samuel Pelaez, President, CEO & CIO by email firstname.lastname@example.org or by phone at 202-677-8513. Norvista’s website is located at www.norvistacapital.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Statements: This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “should”, “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact and may be forward-looking statements.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Norvista to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Norvista believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and those risks set out in the Company’s public documents filed on SEDAR. Accordingly, readers should not place undue reliance on forward-looking information. Norvista does not undertake to update any forward-looking information except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106717