Wilmington Capital Management Inc. Reports Year-to-date and Third Quarter 2026 Results

STOCK SYMBOL –TSX: WCM.A WCM.B

OAKVILLE, ON, Nov. 10, 2026 /CNW/ -- Wilmington Capital Management Inc. ("Wilmington" or the "Corporation") reports its results for the three and nine months ended September 30, 2026 and provides an operational update.

For the three and nine months ended September 30, 2026, the Corporation reported net income of $0.4 million or $0.03 per share and $8.4 million or $0.67 per share, respectively, compared to a net loss of $0.2 million or ($0.02) per share and a net loss of $0.6 million or ($0.05) per share for the same periods in 2025.

Outlook

As previously reported, beginning in August 2023, the Corporation took steps to monetize a number of its investments in order to unlock the value which had been substantially realized, distribute capital to its shareholders and simplify its business. In late 2025 Wilmington initiated an investment in private energy securities (shares of Spur Petroleum Ltd.) whose quantum and value has continued to appreciate. During the third quarter, the Corporation invested $2.8 million in a limited partnership managed by Longbow Capital Inc. that acquired shares of VoltaGrid LLC, a private power infrastructure company. Wilmington will continue to seek opportunistic investments that offer attractive risk-adjusted returns to build shareholder value.

Further information about the terms of this investment are set out in the Corporation's management's discussion and analysis of operations for the three and nine months ended September 30, 2026, which is available on the Corporation's profile on www.sedarplus.ca and the Corporation's website at www.wilmingtoncapital.ca.

About Wilmington

Wilmington is a Canadian investment company whose principal objective has been to seek out investment opportunities in alternative asset classes which provide shareholders with capital appreciation over the longer term as opposed to current income returns. The Corporation has historically invested its own capital alongside partners and co-investors, in hard assets, private equity funds and operating entities. Further information relating to the Corporation may be found on www.sedarplus.ca as well as on the Corporation's website at www.wilmingtoncapital.ca.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
AND COMPREHENSIVE INCOME (LOSS)

(unaudited)		Three months ended September 30,		Nine months ended September 30,
(CDN $ thousands, except per share amounts)	Note	2026	2025	2026	2025
Revenue
Distribution income		256	---	1,556	---
Interest income		13	268	250	824
		269	268	1,806	824
Expenses
General and administrative		(154)	(506)	(629)	(1,626)
Amortization		(7)	(7)	(21)	(21)
Finance costs		(1)	(1)	(2)	(3)
		(162)	(514)	(652)	(1,650)
Fair value adjustments and other activities
Fair value adjustments to investments	3	1,224	---	8,132	---
		1,224	---	8,132	---
Income (loss) before income taxes		1,331	(246)	9,286	(826)
Current income tax recovery		39	61	140	207
Deferred income tax expense		(1,019)	(10)	(1,024)	(17)
Recovery of (provision for) income taxes		(980)	51	(884)	190
Net income (loss)		351	(195)	8,402	(636)
Other comprehensive loss
Items that will not be reclassified to net income:
Fair value adjustments to investments	3	---	(200)	---	(200)
Related income taxes		---	20	---	20
Other comprehensive loss		---	(180)	---	(180)
Comprehensive income (loss)		351	(375)	8,402	(816)
Net income (loss) per share	8
Basic		0.03	(0.02)	0.67	(0.05)
Diluted		0.03	(0.02)	0.67	(0.05)

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)				September 30,	December 31,
(CDN $ thousands)		Note		2026	2025
Assets
NON-CURRENT ASSETS
Investment in Bay Moorings Partnership		4		650	650
Investment in Energy Securities		5		39,827	9,963
Investment in Power Infrastructure Limited Partnership		6		2,838	---
Deferred income tax assets				---	228
Right-of-use asset				---	8
				43,315	10,849
CURRENT ASSETS
Cash				829	24,010
Income taxes recoverable				112	371
Amounts receivable and other assets		7		1,144	1,165
Total assets				45,400	36,395
Liabilities
NON-CURRENT LIABILITIES
Lease liabilities				---	18
Deferred income tax liabilities				796	---
				796	18
CURRENT LIABILITIES
Lease liabilities				38	38
Amounts payable and other				562	737
Total liabilities				1,396	793
Equity
Share capital		8		35,619	35,619
Retained earnings (deficit)				8,369	(33)
Accumulated other comprehensive income				16	16
Total equity				44,004	35,602
Total liabilities and equity				45,400	36,395

Executive Officers of the Corporation will be available at 416-640-2595 to answer any questions on the Corporation's financial results.

STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND OTHER MEASUREMENTS
Certain statements included in this document may constitute forward-looking statements and forward-looking information under applicable securities legislation. Forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, include but are not limited to statements regarding the operations, business, financial conditions, expected financial results, performance, opportunities, priorities, ongoing objectives, strategies and outlook of the Corporation and its investee entities and contain words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "could", "would" or similar expressions and statements relating to matters that are not historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. 

While the Corporation believes the anticipated future results, performance or achievements reflected or implied in those forward-looking statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and forward-looking information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond the Corporation's control, which may cause the actual results, performance and achievements of the Corporation to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and forward-looking information. 

Factors and risks that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include but are not limited to: the ability of management of the Corporation and its investee entities to execute its and their business plans; availability of equity and debt financing and refinancing within the equity and capital markets; strategic actions including dispositions; business competition; delays in business operations; the risk of carrying out operations with minimal environmental impact; industry conditions including changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; operational matters related to investee entities' business; incorrect assessments of the value of acquisitions; fluctuations in interest rates; stock market volatility; general economic, market and business conditions; risks associated with existing and potential future lawsuits and regulatory actions against the Corporation and its investee entities; uncertainties associated with regulatory approvals; uncertainty of government policy changes; uncertainties associated with credit facilities; changes in income tax laws, and other tax laws generally; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; and other risks, factors and uncertainties described elsewhere in this document or in the Corporation's other filings with Canadian securities regulatory authorities.

The foregoing list of important factors that may affect future results is not exhaustive and investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statements or forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise. These forward-looking statements are effective only as of the date of this document.

SOURCE Wilmington Capital Management Inc.