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In Light of Dynamic COVID-19 Developments, GWG Holdings, Inc. Expresses Confidence in the Company’s Portfolio of Assets and its Ability to Continue Operations with a Focus on Providing Consistent and Reliable Service
March 18, 2020 at 5:00 PM EDT
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As COVID-19 continues to impact everyday life, GWGH and its subsidiary, “While public markets have been increasingly volatile, we believe our L Bonds and Redeemable Preferred Stock continue to be a valuable addition to an investor portfolio, particularly in the current economic climate,” said GWGH Chief Executive Officer As of As of A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8da8217d-e210-4380-8688-3d1c6fcceb2a Ben’s loan portfolio had little exposure to companies in the leisure, travel or gaming industries or firms engaged in oil and gas exploration, production, storage and transportation. Also, healthcare investments – both in Healthcare Equipment & Services, and Pharma, Biotech & Life Sciences – represented approximately 50 percent of the Ben loan portfolio. Given a health-related crisis such as the COVID-19 pandemic, some of these companies may see increased demand for their products and services as a result of this crisis. It is important to note, however, we cannot give any assurances that the consequences of this crisis will not adversely affect the value of Ben’s loan portfolio, particularly given the rapidly changing nature of the crisis, the companies and industries most impacted, and related governmental responses. “While the impact of a long-term significant global market downturn on our company and portfolio is somewhat unpredictable, we believe our portfolio of life insurance policies in conjunction with Ben’s diversified loan portfolio positions us to withstand periods of volatility and negative performance in the stock and bond markets,” said GWGH plans to release its financial and operating results for the full-year and fourth quarter of 2019 later this month and will host a webcast/conference call to discuss those results following the release. Forward-Looking Statements Certain matters discussed in this release contain forward-looking statements. These forward-looking statements reflect our current expectations and projections about future events and are subject to risks, uncertainties and assumptions about our operations and the investments we make, including, among other things, factors discussed under the heading “Risk Factors” in our filings with the The words “believe,” “could,” “possibly,” “probably,” “anticipate,” “estimate,” “project,” “expect,” “may,” “will,” “should,” “seek,” “intend,” “plan,” “expect,” or “consider” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from such statements. Such risks and uncertainties include, but are not limited to, the valuation of assets reflected on our financial statements, including the fair value of Ben’s assets and liabilities which were consolidated as a result of the transactions with Ben on About For more information about Media Contact: Source: GWG Holdings, Inc. |