FIRST GROWTH FUNDS MAKES INSTANT $1M GAIN FROM NEW INVESTMENTS
Existing Investment in Ethereum grows from $48,284 to over $535,654
February 5, 2021 – First Growth Funds Limited (CSE: FGFL) “(Company”) is to provide an update on its
investment portfolio and advisory business activities. The Company made 3 new investments in listed equities that
have already increased in value by $929,582. FGFL also achieved a further $180,000 gain from its cryptocurrency
investment in Ethereum, now valued at $535,654. The Company also generated $67,000 in advisory fees in January.
Magnum Mining and Exploration Limited
Magnum Mining and Exploration is an ASX listed mining company with operations in Nevada, USA. Magnum has
secured major permits for the long-term production of a high-grade magnetite concentrate grading +67.5% Fe. The
project is well situated to existing rail, power and port facilities.
Magnum completed a $2M Placement to accredited investors. The Placement was heavily oversubscribed and FGFL
received an allocation of $700,000 as the lead investor. The investment was completed at $0.04 per share with 2 for 1
matching listed options. The shares will be issued after their shareholder meeting on 3rd March 2021. FGFL also
invoiced $40,000 in advisory fees to Magnum.
Below is a summary table of the current value of shares and options.
Code Investment Placement
Price
Shares Last Price Holding
Value
Profit %
MGU $700,000 $0.04 17,500,000 $0.070 $1,225,000 $525,000 75%
MGUO 8,750,000 $0.031 $271,250 $271,250
TOTAL $796,250 114%
SportsHero Limited
SportsHero is an e-sports company listed on the ASX. The company has 2.7 million users, adding 586,294 new users
in January. FGFL participated in their $450,000 Placement by investing $150,000 at $0.025 cents per share with 2 for
1 unlisted options. SportsHero then offered a second Placement on 4th February raising a further $2M and FGFL
participated by investing $280,000 at $0.03 with a 2 for 1 unlisted options. FGF also invoiced $27,000 in advisory
fees.
Below is a summary table of the current value of shares and options.
Code Investment Placement
Price
Shares Last Price Holding
Value
Profit %
SHO $150,000 $0.025 6,000,000 $0.035 $210,000 $60,000 40%
$280,000 $0.030 9,333,333 $0.035 $326,666 $46,666 17%
Total $430,000 $106,666 25%
Jadar Resources Limited
Jadar Resources is an ASX listed mining company with a diversified portfolio of mining assets in Lithium, Gold and
Silver. It completed a $1.8M Placement to accredited investors. The Placement was heavily oversubscribed and
FGFL received an allocation of $160,000. Below is a summary table of the current value of shares and options.
Code Investment Placement
Price
Shares Last Price Holding
Value
Profit %
JDR $160,000 $0.03 5,333,333 $0.035 $186,666 $26,666 17%
Ethereum
First Growth Funds is also pleased to announce an update on its existing investment in cryptocurrency, Ethereum.
First Growth Funds holds 255.5 Ethereum tokens valued at CAD$535,654. This investment was valued at $48,289
twelve months ago.
Ethereum is the second largest digital asset by market capitalization after Bitcoin and is the largest blockchain network
for creating smart contracts and new digital assets. Although Bitcoin has also increased in value by 370% over the
past 12 months, FGFL has generated more superior returns by holding Ethereum as it has risen by 772% during the
same period.
First Growth Funds plans to continue to hold Ethereum for the medium term.
SQID Technologies Limited
First Growth Funds holds 14.8% of SQID Technologies Limited (CSE:SQID). First Growth Funds carrying value has
fluctuated over the past 6 months with the SQID share price down in the December quarter. In January, SQID
announced a 50% acquisition of revenue generating esports company, ICON. SQID plans to integrate their payment
engine into the ICON platform to generate additional revenue.
About First Growth Funds Limited
First Growth Funds Limited invests across a broad range of asset classes including listed equities, private equity,
blockchain and digital assets. The company also operates an advisory business providing corporate advisory, capital
raising and capital markets support to its portfolio. www.firstgrowthfunds.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of
applicable securities laws. These statements relate to future events or future performance. All statements other than
statements of historical fact may be forward-looking statements or information. The forward-looking statements and
information are based on certain key expectations and assumptions made by management of the Company.
Forward-looking statements and information are provided for the purpose of providing information about the current
expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on
such statements and information may not be appropriate for other purposes, such as making investment decisions.
Since forward-looking statements and information address future events and conditions, by their very nature they
involve risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number
of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines
and information contained in this news release. Readers are cautioned that the foregoing list of factors is not
exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no
undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result
of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian
Securities Exchange. The forward-looking statements or information contained in this news release are expressly
qualified by this cautionary statement.
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