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Torrent Capital Ltd. (TSXV: TORR,OTC:TRRPF) ("Torrent" or the "Company") today announced its final unaudited financial results for the second quarter ended June 30, 2026. The Company reported net and comprehensive income of $4.7 million, or $0.12 per share, for the second quarter. At June 30, 2026, the Company's net asset value ("NAV") was $33.1 million, or $0.87 per share, compared with $28.3 million, or $0.74 per share, at March 31, 2026.
Q2 2026 Financial Highlights (Unaudited)
Net and Comprehensive Income: $4.7 million, equivalent to $0.12 per share, compared with $2.4 million or $0.06 per share in Q2 2025.
Realized Investment Gains: $4.1 million in net realized gains, equivalent to $0.11 per share.
Net Asset Value: $33.1 million or $0.87 per share, compared with $28.3 million or $0.74 per share at March 31, 2026 and $28.7 million or $0.75 per share at June 30, 2025.
Cash and Cash Equivalents: $6.9 million at June 30, 2026, compared with $0.7 million at March 31, 2026 and $1.7 million at December 31, 2025.
Performance Drivers: A rebound in equity markets, supported by improved investor sentiment toward growth-oriented and technology-related sectors resulted in realized and unrealized gains across the investment portfolio. Following the announcement of its proposed acquisition, Kneat.com, Inc., a core holding, increased in value, and contributed to the Company's realized investment gains during the quarter.
"We are pleased with Torrent's strong second-quarter performance and the positive momentum building across our portfolio," said Wade Dawe, Chief Executive Officer of Torrent Capital Ltd. "The exit from one of our largest holdings increases our liquidity and provides flexibility as we work to identify new investment opportunities."
NAV per share and realized investment gains per share are calculated based on common shares outstanding at the applicable reporting dates. Earnings per share is calculated using the weighted-average number of common shares outstanding during the applicable period.
Cautionary Note on Financial Results
The financial figures presented in this release are derived from the Company's unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2026. Readers are advised to review the Company's unaudited condensed interim consolidated financial statements and management's discussion and analysis ("MD&A"), which have been filed on SEDAR+.
About Torrent Capital Ltd.
Torrent Capital is a publicly traded Investment Issuer that actively manages a portfolio of public equities and private investments. The Company invests in companies that are due to experience accelerated growth or are trading at a discount to their intrinsic value. Torrent offers investors the potential to earn above-market returns while providing transparency, daily liquidity and a modest fee profile compared with competing investment products.
For further information, please contact:
Wade Dawe
Chief Executive Officer
Phone: 1 902 536 1976
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The reader is referred to the Company's annual financial reporting for a discussion of risks and uncertainties.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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