Announcement • Apr 29
Torrent Capital Ltd., Annual General Meeting, Jun 24, 2026 Torrent Capital Ltd., Annual General Meeting, Jun 24, 2026. Location: nova scotia, halifax Canada New Risk • Apr 26
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: CA$6.1m (US$4.5m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. High level of non-cash earnings (2,250% accrual ratio). Minor Risks Revenue is less than US$5m (CA$6.1m revenue, or US$4.5m). Market cap is less than US$100m (CA$18.5m market cap, or US$13.5m). Announcement • Nov 08
Torrent Capital Ltd. announced that it has received CAD 0.0305 million in funding Torrent Capital Ltd. issued 50,000 common shares at an issue price of CAD 0.61 per share for gross proceeds of CAD 30,500 on November 7, 2025. Recent Insider Transactions Derivative • May 25
CEO & Director exercised options to buy CA$132k worth of stock. On the 19th of May, Wade Dawe exercised options to buy 200k shares at a strike price of around CA$0.40, costing a total of CA$80k. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. Since December 2024, Wade's direct individual holding has increased from 6.86m shares to 10.32m. Company insiders have collectively bought CA$286k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Apr 29
Torrent Capital Ltd., Annual General Meeting, Jun 26, 2025 Torrent Capital Ltd., Annual General Meeting, Jun 26, 2025. Location: nova scotia, halifax Canada New Risk • Apr 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Market cap is less than US$10m (CA$13.4m market cap, or US$9.49m). Minor Risk Revenue is less than US$5m (CA$1.7m revenue, or US$1.2m). New Risk • Apr 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.4m (US$9.40m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Market cap is less than US$10m (CA$13.4m market cap, or US$9.40m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Revenue is less than US$5m (CA$1.7m revenue, or US$1.2m). New Risk • Feb 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (CA$1.7m revenue, or US$1.2m). Market cap is less than US$100m (CA$26.4m market cap, or US$18.5m). Announcement • Feb 11
Torrent Capital Ltd. announced that it has received CAD 8.75774 million in funding On February 10, 2025 Torrent Capital Ltd. closed the transaction and issued 12,511,057 units at issue price of CAD 0.70 per unit for gross proceeds of CAD 8,757,739.9. In connection with the Offering, the agents and finder received a cash commission equal to 6% of the
gross proceeds. Additionally, the agents and finder were granted compensation options in an amount equal to 6% of the total number of Units issued under the Offering, except for any purchases made by officers and directors of the Company. Each Compensation Option is exercisable into one Unit at a price of CAD 0.70 for a period of 24 months following closing. Such cash commissions totaled CAD 375,032 and such Compensation
Options totaled 535,761. Announcement • Jan 23
Torrent Capital Ltd. announced that it expects to receive CAD 5 million in funding Torrent Capital Ltd. announced brokered "best efforts" prospectus exempt offering on January 23, 2025. The company will issue 7,142,857 units at a price of CAD 0.7 per unit for gross proceeds of CAD 5,000,000. Each Unit will consist of one common share and three-quarters of one common share purchase warrant. Each Warrant will be exercisable at CAD 1.10 for a period of 24 months following the closing date of the Offering. The units will be subject to a 4-month hold period pursuant to applicable Canadian securities laws. The Offering is expected to close on or about February 6, 2025, or such other date as may be agreed upon by the Company and the Agent, and completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Announcement • Nov 08
Torrent Capital Ltd. Appoints Carl Sheppard as President and Chief Operating Officer Torrent Capital Ltd. announced the appointment Carl Sheppard as President and Chief Operating Officer. As President and COO, Mr. Sheppard will lead Torrent's long-term, high-level strategy for business development, collaborating closely with Torrent's Chief Executive Officer ("CEO") Wade Dawe to oversee operations and seek out new investment opportunities. Mr. Sheppard will also focus on expanding Torrent's strategic business consulting services, fostering joint ventures, and identifying alliances and partnerships that align with Torrent's growth objectives. A key part of Mr. Sheppard's role will be to support the expansion of Argentia Capital Inc. ("ACI"), where he serves as Interim CEO. ACI, a joint venture between Torrent and the Port of Argentia Inc., was launched in September 2022, focusing on the construction of port infrastructure, the provision of services and developments at the Port of Argentia, Newfoundland and Labrador. Mr. Sheppard brings extensive experience to this new role. He has served as a senior advisor and strategist to many of Canada's leading resource organizations and has been involved in numerous initiatives and business planning projects. Mr. Sheppard has also held officer and board positions across private and public sectors, equipping him with a deep understanding of advancing large-scale projects within complex environments. Board Change • Aug 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jul 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.1m (US$9.63m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 45% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.1m market cap, or US$9.63m). New Risk • May 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.1m (US$9.59m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.1m market cap, or US$9.59m). Board Change • May 09
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.9m (US$9.45m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 40% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$12.9m market cap, or US$9.45m). Board Change • Mar 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 09
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Jun 28
Now 29% undervalued Over the last 90 days, the stock is up 1.5%. The fair value is estimated to be CA$0.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 80% over the last 3 years. Meanwhile, the company became loss making. Board Change • May 03
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Feb 22
President recently bought CA$99k worth of stock On the 16th of February, Wade Dawe bought around 135k shares on-market at roughly CA$0.73 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Wade has been a buyer over the last 12 months, purchasing a net total of CA$350k worth in shares. Recent Insider Transactions • Feb 02
President recently bought CA$56k worth of stock On the 27th of January, Wade Dawe bought around 75k shares on-market at roughly CA$0.75 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Wade has been a buyer over the last 12 months, purchasing a net total of CA$252k worth in shares. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 10
President recently bought CA$55k worth of stock On the 5th of August, Wade Dawe bought around 70k shares on-market at roughly CA$0.79 per share. This was the largest purchase by an insider in the last 3 months. Wade has been a buyer over the last 12 months, purchasing a net total of CA$457k worth in shares. Board Change • Jun 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Wayne Myles was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Chairman Philip Armstrong was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 04
President recently bought CA$55k worth of stock On the 1st of September, Wade Dawe bought around 54k shares on-market at roughly CA$1.02 per share. In the last 3 months, they made an even bigger purchase worth CA$207k. Wade has been a buyer over the last 12 months, purchasing a net total of CA$669k worth in shares. Recent Insider Transactions • Aug 27
Insider recently bought CA$131k worth of stock On the 25th of August, Glynn Fisher bought around 130k shares on-market at roughly CA$1.01 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$782k more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 27
Insider recently bought CA$77k worth of stock On the 21st of May, Glynn Fisher bought around 68k shares on-market at roughly CA$1.14 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$422k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CA$1.05, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 10x in the Capital Markets industry in Canada. Total returns to shareholders of 239% over the past three years. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 20% share price gain to CA$1.25, the stock is trading at a trailing P/E ratio of 3x, up from the previous P/E ratio of 2.5x. This compares to an average P/E of 12x in the Capital Markets industry in Canada. Total returns to shareholders over the past three years are 324%. Is New 90 Day High Low • Feb 19
New 90-day high: CA$1.20 The company is up 40% from its price of CA$0.86 on 20 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 19% share price gain to CA$1.15, the stock is trading at a trailing P/E ratio of 2.7x, up from the previous P/E ratio of 2.3x. This compares to an average P/E of 12x in the Capital Markets industry in Canada. Total returns to shareholders over the past three years are 297%. Is New 90 Day High Low • Jan 23
New 90-day high: CA$0.95 The company is up 7.0% from its price of CA$0.89 on 23 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improved over the past week After last week's 45% share price gain to CA$1.23, the stock is trading at a trailing P/E ratio of 2.9x, up from the previous P/E ratio of 2x. This compares to an average P/E of 12x in the Capital Markets industry in Canada. Total returns to shareholders over the past three years are 267%. Is New 90 Day High Low • Jan 04
New 90-day high: CA$0.98 The company is up 15% from its price of CA$0.85 on 06 October 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Capital Markets industry, which is also up 15% over the same period. Recent Insider Transactions • Nov 23
CEO & Director recently bought CA$88k worth of stock On the 19th of November, Wade Dawe bought around 105k shares on-market at roughly CA$0.84 per share. This was the largest purchase by an insider in the last 3 months. Wade has been a buyer over the last 12 months, purchasing a net total of CA$221k worth in shares. Is New 90 Day High Low • Oct 30
New 90-day low: CA$0.70 The company is down 22% from its price of CA$0.90 on 31 July 2020. The Canadian market is down 26% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Capital Markets industry, which is down 6.0% over the same period. Recent Insider Transactions • Oct 12
Director recently bought CA$69k worth of stock On the 9th of October, Harold Megann bought around 75k shares on-market at roughly CA$0.93 per share. In the last 3 months, there was an even bigger purchase from another insider worth CA$75k. Insiders have collectively bought CA$58k more in shares than they have sold in the last 12 months.