CGrowth Capital Inc. Highlights Recent Achievements and Strategic Focus in Company Update
News provided byCGrowth Capital, Inc.
Nov 21, 2023, 2:25 PM ET
NEW YORK, NY, Nov. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – CGrowth Capital Inc. (OTC: CGRA) is a public holding company for alternative and undervalued assets. The company is sector and industry agnostic and currently consists of two divisions including Mining and Sports Technology. The company is focused on acquiring and investing in growth-oriented opportunities where the company’s capital, expertise, and capabilities can help create significant added value for shareholders.
Following its successful raise of $1 million in non-debt financing from a Dubai-based family office, CGRA will be updating shareholders regarding a series of achievements and upcoming milestones. Ahead of these announcements, the company would like to provide a general overview and update on the current status across both the Sports Technology and Mining divisions of the business. This update is designed to address several key aspects of the business and the impetus behind the strategic decisions made by the CGRA management team.
Under new management, CGRA underwent a fundamental transition from primarily being an oil related business to shifting away from fossil fuels and focusing on renewable energy businesses, in particular minerals and metals for the renewable energy sector. This strategy led to the formation of CGRA Mining which is currently incorporating a new lithium mine in Tanzania.
Recent industry analysis by British Petroleum (BP), a leading player in the global energy sector, further validates CGRA's strategic direction. BP's recent report underscores a significant forecast that the demand for oil is expected to decrease sharply in the coming decades. Their projections indicate that the share of fossil fuels in primary energy consumption will drop from 80 percent in 2019 to between 55 and 20 percent by 2050. In contrast, the share of renewables is set to increase from 10 percent to between 35 and 65 percent during the same period.
“This decisive energy sector shift echoes our assessment of the sector’s future. It's a clear indicator that renewable energy sources, including EV technology, will form the backbone of future energy consumption. Our move to align CGRA with these trends is a strategic step to stay ahead in the ever-evolving energy market and to ensure we remain at the forefront of this generational transition,” said CGRA Chairman, Nicolas Link.
“This strategic decision by CGRA's management team is already yielding positive results, given the notable progress in our Mining division. We have already achieved significant milestones as described to shareholders previously. We believed it important to have the initial reports independently completed and to be sufficiently advanced in the next reporting process for the next phase of announcements to be meaningful to shareholders. This more cautious approach is intended to build and reinforce confidence among both our current and potential shareholders. I am pleased to say that we have now reached a stage where we can confidently announce the progress we have made and are making. Over the next week or so, we look forward to releasing a series of detailed reports to the market which will reflect the significant strides we have taken over the last few months in our mining division,” continued Mr. Link.
In tandem with CGRA’s achievements in the Mining sector, its Sports Technology division continues to show impressive growth. This area of the business has been significantly bolstered by the recent addition of several industry experts as well as leading sports and marketing consultants who are currently building out the global product placement, sales and distribution plan for 2024.
“We firmly believe in the potential of our Sports Technology division to achieve millions of dollars in revenue in the short-term before becoming more significantly cash-generative by 2025. The sheer global scalability and high profit margins in this sector of our business make it extremely promising for us in the short to medium term. We are excited about our future prospects and look forward to sharing more developments as they unfold,” said Mr. Link.
Looking ahead, CGRA is committed to transition towards full reporting status. This significant move is planned for 2024, a time when the company expects to be ideally positioned for such a step, ensuring it aligns with the best interests of shareholders and is feasible for its management team. Until then, CGRA’s unwavering focus will continue to be on creating real, verifiable and substantial value for its shareholders.
For regular CGrowth Capital (CGRA) updates, you are invited to view the company’s website and/or to follow the company’s Twitter account:
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Twitter: @CGRAOTC
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