CGrowth Capital Inc. Highlights Recent Achievements and Strategic Focus in Company Update

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.