Vancouver, British Columbia – October 2, 2017 Planet Ventures Inc. (the “Company”) (TSX.V: PXI) is pleased to provide shareholders with the following update on its operations and investments.
During the preceding fiscal period, the Company management has made a number of investments in a number of industry sectors and is currently assessing and evaluating new opportunities for potential investments. Planet has substantial cash and investment, (over $4.5 million as of June 30, 2017). and has been reviewing unique and interesting opportunities in the blockchain, mining, cryptocurrency, technology, life sciences and cannabis sectors. Planet will continue with its growth strategy of increasing its investment footprint in fast-growing and globally-expanding sectors which include the blockchain and cryptocurrency spaces. It is through this investment portfolio where they hope to generate substantial value for their shareholders over the coming years.
Between December 31st, 2015 to June 30th 2017, Planet has increased asset value by over 100%. Net Asset Value (NAV) has increased from $0.03/share on December 31st 2015 to $0.07/share on June 30th 2017.
In terms of operating cost, Planet during the same period December 31, 2015 to June 30, 2017, has reduced its operating expenses by 65%.
The increased cash and reduced operating expenses has resulted in increased liquidity to further the Company’s investing activities.
Planet currently holds stock positions in the following sectors: Mining, Resource, Energy, Technology, Cannabis, Life Sciences, and Financial.
Management understands the importance of being transparent and open with their shareholders and will therefore provide frequent updates.
ON BEHALF OF THE BOARD
Chief Financial Officer and Director
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.