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Torrent Capital Reports Preliminary Q1 2026 Financial Results and Net Asset Value (NAV)
Halifax, Nova Scotia--(Newsfile Corp. - April 29, 2026) - Torrent Capital Ltd. (TSXV: TORR) ("Tor...
About this update from Torrent Capital Ltd
[{"type":"text","content":"Torrent Capital Reports Preliminary Q1 2026 Financial Results and Net Asset Value (NAV)Halifax, Nova Scotia--(Newsfile Corp. - April 29, 2026) - Torrent Capital Ltd. (TSXV: TORR) (\"Torrent\" or the \"Company\") today announced its preliminary, unaudited financial results for the first quarter ended March 31, 2026. The Company reported an estimated Net Asset Value (\"NAV\") of $28.4 million, or approximately $0.74 per share as at March 31, 2026.Q1 2026 Preliminary Financial Highlights (Unaudited)Net Asset Value: $28.4 million or $0.74 per share, compared with $32.5 million or $0.85 per share at December 31, 2025.Cash and Cash Equivalents: $0.7 million, compared to $1.6 million at December 31, 2025.Realized Investment Gains: $0.4 million in net realized gains, equivalent to $0.01 per share (Q1 2025 - $0.4 million or $0.01 per share);Performance Drivers: Equity markets experienced increased volatility during the first quarter, driven in part by macroeconomic uncertainty and sector level rotations. The change in NAV reflects adjustments in valuations across the portfolio, including the realization of gains on certain investments, as well as a reduction of previously recognized unrealized gains in the portfolio. Active Portfolio Management: Torrent continued to employ option writing strategies on select equity holdings, generating incremental cash flows during the period. \"During the quarter, our portfolio was impacted due to evolving market conditions,\" said Wade Dawe, Chief Executive Officer of Torrent Capital Ltd. \"While increased market volatility can impact unrealized gains from quarter to quarter, we remain confident in our positioning and strategy over the mid to long term.\"NAV per share and all per-share figures are calculated based on common shares outstanding at the applicable reporting dates. The number of common shares outstanding may vary between periods.Cautionary Note on Preliminary Results The financial information presented in this press release is preliminary and unaudited and is subject to change following the completion of the Company's standard closing procedures and review. Final results will be included in the Company's unaudited financial statements and MD&A for the quarter ended March 31, 2026, that will be filed on SEDAR+ on or before May 29, 2026. About Torrent Capital Ltd.Torrent Capital is a publ...