Wilmington Capital Management Inc. Reports Fourth Quarter and Year 2025 Results

CALGARY, Alberta, March 05, 2026 (GLOBE NEWSWIRE) -- Wilmington Capital Management Inc. (TSX: WCM.A, WCM.B) (“Wilmington” or the “Corporation”) reports its fourth quarter and year end December 31, 2025 financial reports and provides an operational update. For the three and twelve months ended December 31, 2025, the Corporation reported a net income of $0.2 million or $0.01 per share and a net loss of $0.5 million or ($0.04) per share, compared to a net loss of $0.8 million or ($0.06) per share and net income of $0.4 million or $0.03 per share for the same periods in 2024, respectively.      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. The monetization plan has met with considerable success and Wilmington is well positioned to continue to build on its past history of delivering attractive long-term returns to shareholders. Wilmington announced on November 31, 2025, as part of its transition plan, the changes in its leadership team and board of directors. Effective December 31, 2025, Messrs. Chris Killi, Joe Killi and Marc Sardachuk stepped down from their respective roles as CEO, Chairman and director of the Corporation. Their leadership and commitment had been instrumental in building unique alternative investment platforms like land lease resorts and communities, self-storage facilities, marinas and delivering strong financial performance. Wilmington is grateful for their vision and stewardship throughout their tenure and wishes them every success in their future endeavors. Mr. Andrew Cockwell assumed the role of Chairman and CEO and will help lead Wilmington into an exciting new chapter that ensures the Corporation continues to have a dynamic and successful future. About Wilmington Wilmington is a Canadian investment company whose principal objective has been to seek out investment opportunities in alternative asset classes which provided shareholders with capital appreciation over the longer term as opposed to current income returns. The Corporation invested its own capital alongside partners and co-investors, in hard assets and private equity funds and managed these assets through operating entities. Further information relating to the Corporation may be found on www.sedarplus.ca as well on the Corporation’s website at www.wilmingtoncapital.ca. CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS)   (audited)   Three months ended Year ended     December 31, December 31, (CDN $ thousands, except per share amounts)   2025   2024   2025   2024               Management fee revenue   ---   221   ---   861   Distribution income   221   ---   221   68   Interest and other income   207   474   1,032   1,807       428   695   1,253   2,736   Expenses           General and administrative   (742 ) (1,955 ) (2,369 ) (3,842 ) Amortization   (7 ) (7 ) (28 ) (28 ) Finance costs   (1 ) (1 ) (4 ) (5 ) Stock-based compensation   ---   ---   ---   (18 )     (750 ) (1,963 ) (2,401 ) (3,893 ) Fair value adjustments and other activities   Fair value adjustments to investments   393   ---   393   164   Gain from sale of investments   ---   ---   ---   947       393   ---   393   1,111   Income (loss) before income taxes   71   (1,268 ) (755 ) (46 ) Current income tax recovery (expense)   130   47   337   (434 ) Deferred income tax recovery (expense)   (16 ) 399   (33 ) 852   Provision for income taxes   114   446   304   418   Net income (loss)   185   (822 ) (451 ) 372   Other comprehensive income (loss)           Items that will not be reclassified to net income (loss):           Fair value adjustments to investments   ---   (60 ) (200 ) (60 ) Related income taxes   ---   37   20   73   Other comprehensive income (loss)   ---   (23 ) (180 ) 13   Total comprehensive income (loss)   185   (845 ) (631 ) 385               Net income (loss) per share           Basic   0.01   (0.06 ) (0.04 ) 0.03   Diluted   0.01   (0.06 ) (0.04 ) 0.03     CONDENSED CONSOLIDATED BALANCE SHEETS   (audited)     December 31, December 31, (CDN $ thousands)     2025   2024           Assets         NON-CURRENT ASSETS         Investment in Bay Moorings Partnership     650   850 Investment in Energy Securities     9,963     Deferred income tax assets     228   240 Right-of-use asset     8   36       10,849   1,126 CURRENT ASSETS         Cash     24,010   36,307 Income taxes recoverable     371   --- Amounts receivable and other assets     1,165   1,253 Total assets     36,395   38,686           Liabilities         NON-CURRENT LIABILITIES         Lease liabilities     18   52       18   52 CURRENT LIABILITIES         Lease liabilities     38   38 Income taxes payable     ---   725 Amounts payable and other     737   1,638 Total liabilities     793   2,453           Equity         Shareholders’ equity     35,619   35,619 Retained earnings (deficit)     (33 ) 418 Accumulated other comprehensive income     16   196 Total equity     35,602   36,233 Total liabilities and equity     36,395   38,686   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 or information under applicable securities legislation. Forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, include 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", 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 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 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 Wilmington 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 law suits and regulatory actions against Wilmington and its investee entities; uncertainties associated with regulatory approvals; uncertainty of government policy changes; uncertainties associated with credit facilities; changes in income tax laws, tax laws; 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 Wilmington's other filings with Canadian securities regulatory authorities. The foregoing list of important factors that may affect future results is not exhaustive. When relying on the forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking statements or information, that may be as a result of new information, future events or otherwise. These forward-looking statements are effective only as of the date of this document.