Company
Hygrovest Ltd
ASX:HGV
Hygrovest Ltd (ASX:HGV) is a specialist investment company focused on listed and unlisted equities and other financial assets. Investments are managed by Parallax Ventures Inc., a specialist management company in Canada, under a longterm strategic partnership.
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Hygrovest sees strong growth in sales and EBITDA of Canadian cannabis investee
Established in 2016, Weed Me Inc is the largest unlisted Canadian licenced producer of cannabis products for the Canadian recreational market.
Hygrovest raises net present value by 38%; NPV per share up 30%
“The 28% growth in pre-tax NAV in October 2022 was primarily due to the impact of the valuation multiple applied to Weed Me from the increase in the listed Canadian cannabis securities,” the company wrote in a portfolio report.
Hygrovest eyes opportunities in high growth sectors to reduce gap between share price and NAV
Under its investment mandate, HGV invests in high-growth industries such as but not limited to, natural resources, healthcare and the digital economy.
Hygrovest extends asset management terms as it looks to transition beyond cannabis
Up until recently, its focus was on cannabis businesses, however, the company is now transitioning into broader investment opportunities in healthcare, the digital economy and natural resources.
Is a cannabis consolidation coming in Australia?
Right now, the cannabis industry in Australia is very immature, which makes these investments highly speculative. Given this, investors need to be very selective about what they choose to buy in this sector.
Hygrovest NAV grows in July as it transitions portfolio to a broader range of high-growth industries
HGV has reduced its exposure to cannabis companies from 72% to 58% of the total portfolio including cash reserves to provide funds to transition its portfolio to a broader range of high-growth industries.
Hygrovest continues to diversify its investment portfolio as cannabis sector underperforms
The company holds A$6 million of cash that will allow it to continue to diversify away from the underperforming cannabis sector.
Hygrovest eyes liquidity from existing investments as it seeks to diversify across strategies and sectors
Hygrovest’s existing strategy has been to invest in private companies with an expectation for a liquidity event within 18-24 months.
Hygrovest to divest investment in Entourage Health Corp
“The divestment of HGV’s investment in ENT at a significant premium to our book value is an important step in realising HGV’s underperforming cannabis investments and applying those funds to sectors which have higher growth prospects,” says
Hygrovest seeks to allocate capital to a new high-growth strategy with a higher margin of safety
The company is seeking to allocate capital to a second strategy that focuses exclusively on isolating warrants and options that are frequently bundled with many secondary private placements on listed public equities.
Hygrovest outperforms benchmark Canadian cannabis market in FY2022
Hygrovest has funds available to deploy in new investments and will also seek to realise existing investments to recycle capital into opportunities having greater potential for growth.
Hygrovest focuses investment efforts on new themes as cannabis portfolio outperforms industry
In addition to continued capital investments in new sectors, Hygrovest continues to leverage its portfolio platform so investee companies can help each other from a technical and commercial standpoint.
Hygrovest completes C$1 million follow-on investment in unlisted Weed Me
The investment will fund Weed Me’s business plan rollout and position Weed Me for a liquidity event - either a public listing or the sale of the business.
Hygrovest starts to see results of diversification efforts outside of cannabis
The company noted high growth and shorter paths to liquidity in many of its new investments as these sectors aren’t burdened by the challenges currently facing the cannabis space.
Hygrovest significantly outperforms dip in Canadian cannabis market, looks to diversify with new investments
Hygrovest has weathered a decline in the Canadian cannabis market with outperforming assets, but now looks to reduce risk by diversifying assets into non-cannabis sectors following approval for a broadened investment mandate at the company'
Hygrovest is new name for MMJ Group Holdings
The company believes the new name more accurately reflects its future operations in line with a broadening of its investment mandate.