Wilmington Capital Management Inc. Announces First Quarter 2025 Results

CALGARY, Alberta, May 06, 2025 (GLOBE NEWSWIRE) — Wilmington Capital Management Inc. (TSX: WCM.A, WCM.B) (“Wilmington” or the “Corporation”) reported a net loss for the three months ended March 31, 2025, of $0.2 million or ($0.01) per share compared to net income of $1.3 million or $0.10 per share for the same period in 2024.

First Quarter 2025
The Corporation reported a net loss for the three months ending March 31, 2025 of $0.2 million or ($0.01) per share compared to net income of $1.3 million or $0.10 per share for the same period in 2024.

Outlook
Beginning in August 2023, the Corporation took steps to monetize a significant number of its investments in order to unlock the embedded value which had been substantially realized, simplify its business and return capital to its shareholders. As at March 31, 2025, the Corporation had approximately $34 million of cash on hand and an 18% ownership interest in Bay Moorings Marina Holdings Limited Partnership, which owns land in Ontario being redeveloped into 50 residential sites and a condo having approximately 90 units.

The Corporation is currently reviewing a range of alternatives aimed at providing liquidity to shareholders including repatriating additional capital and maximizing the value of its public platform.

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

Executive Officers of the Corporation will be available at 403-705-8038 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.