Quinsam Announces Q1/2026 Results

• Quinsam Capital Corporation reported Q1/2026 net income of $1.4 million ($0.015 per share), a significant increase from $0.2 million in Q1/2025.
• Net Asset Value (NAV) increased to $0.117 per share as of March 31, 2026, up from over $0.10 per share at December 31, 2025.
• Liquid investments stand at approximately $0.06 per share.
• Peninsula Capital Corp is expected to undergo a direct listing in Canada by the end of the June quarter, moving over $0.01 per share from private to public portfolio.
• Portfolio holdings EDM Resources, Nevada Organic Phosphate, and Deep Sea Minerals showed notable price increases.
• Issuer Bid (NCIB) remains active through September 18, 2026, with no shares acquired during Q1/2026.

• The earnings improvement is sequential and follows the turnaround seen in Q4/2025 where losses turned to profits ($0.4M).
• NAV growth of approximately 17% from December 2025 to March 2026 confirms portfolio appreciation but does not close the discount gap with market price.
• The Peninsula Capital listing catalyst was previously flagged in Q3 and Q4 reports as "anticipated," making this news incremental rather than a surprise.
• The stock price has remained stagnant around $0.05 despite positive NAV updates, indicating the market is pricing in the risk of the discount or liquidity constraints.
• The jump in EPS from $0.002 to $0.015 is material for profitability but less impactful given the holding company structure where NAV is the primary value driver.

• Quinsam Capital Corporation operates as an investment holding company focused on private and public equity investments in resource and technology sectors.
• Flagship strategy involves acquiring stakes in early-stage companies with potential for IPO or direct listing to unlock NAV value.
• Key portfolio companies include Peninsula Capital Corp, EDM Resources, Nevada Organic Phosphate, Deep Sea Minerals, and Saturn Oil & Gas.