Bay Street News

Stack Capital Group Inc. Reports 2023 Year End Results

TORONTO, March 07, 2024 (GLOBE NEWSWIRE) — Stack Capital Group Inc., (“Stack Capital” or the “Company”) (TSX: STCK and STCK.WT) today announced its financial results for the year ended December 31, 2023. Stack Capital reports all amounts in Canadian Dollars unless otherwise stated.

Company Commentary:

“I believe that this is one of the most exciting times to invest in growth and late-stage private markets, and Stack is ready to capitalize given its advantageous cash position of $25 million. With the IPO market beginning to show signs of re-opening, we believe that high-quality private companies will be some of the first to list. We’re optimistic that some of our existing portfolio companies fit that profile, and represent excellent candidates for future liquidity events,” said Jeff Parks, CEO of Stack Capital.

Q4-2023 Highlights

Breakdown of Book Value per Share as at December 31, 2023:  
Cash $         2.80  
Investment – SpaceXi   1.34  
Investment – Omio, Inc.ii   1.22  
Investment – Hopper Inc.   1.19  
Investment – Locus Robotics, Inc.   1.18  
Investment – Newfront Insurance, Inc.   1.18  
Investment – Prove Identity Inc.iii   1.13  
Investment – Bolt Financial, Inc.   0.55  
Investment – Varo Money, Inc.                       0.33  
Net other assets                     (0.01 )
Book Value per Share $         10.91  

i the Company invested in units of FNEX Ventures LLC – Series 103 which is primarily invested into Space Exploration Technologies Corp. (“SpaceX”).
ii the Company invested in shares of GoEuro Corp. which carries on business as Omio.
iii the fair value of Prove Identity Inc. includes an unrealized deferred gain of $939,349.

About Stack Capital

Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to a diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the “Manager”) has taken the initiative in creating the Company and acts as the Company’s administrator and is responsible to source and advise with respect to all investments for the Company.

For more information, please visit our website at www.stackcapitalgroup.com or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
brian@stackcapitalgroup.com

Non-IFRS Financial Measures

This press release may make reference to the following financial measures which are not recognized under International Financial Reporting Standards (“IFRS”), and which do not have a standard meaning prescribed by IFRS:

The Company’s Book Value and Book Value per Share is a measure of the performance of the Company as a whole. The Company’s method of determining this financial measure may differ from other issuers’ methods and, accordingly, this amount may not be comparable to measures used by other issuers. This financial measure is not a performance measure as defined under IFRS and should not be considered either in isolation of, or as a substitute for, net earnings per share prepared in accordance with IFRS.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this press release includes, but may not be limited to the business of Stack Capital and the risks associated therewith, including those identified in the Annual Information Filing under the heading “Risk Factors”.

Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although Stack Capital believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Stack Capital can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the ability to capitalize on investment opportunities. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of Stack Capital based on information currently available to Stack Capital.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Stack Capital disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events, or results or otherwise. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.


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