Olive Resource Capital Provides Update on Investments for September 2026

September's portfolio value remained above year-end 2025 despite falling from August, while Olive cancelled previously repurchased shares.

Rhea-AI Summary

Olive Resource Capital (XTERF) reported an unaudited investment portfolio value of $21,399,503 for the period ending September 30, 2026. This compares with $23,295,754 at August 31 and an audited $16,473,208 at December 31, 2025. Olive attributed the increase since year-end primarily to investment share-price appreciation and an August equity offering.

Omai Gold Mines, the largest holding, fell to $5,556,660 from $6,657,980 in August, while Canex Metals rose to $690,800 from $399,900. Other public equity liquid investments and cash equivalents stood at $5,220,554; this category excludes working-capital and liability adjustments. During September, Olive's normal course issuer bid, its share repurchase program, expired, and it cancelled 4,046,000 common shares previously held in treasury. Shares outstanding at the announcement date were 132,417,754, including treasury shares pending cancellation.

6 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 10 points

How the balance works

Positive

• Minor pointCancellation of 4,046,000 common shares previously held in treasury reduced the share count.
• Minor pointCanex Metals holding rose to $690,800 at September 30 from $399,900 at August 31.
• Minor pointGeoPark holding rose to $667,191 at September 30 from $640,609 at August 31.
• Minor pointERO Copper holding rose to $585,536 at September 30 from $577,584 at August 31.
• Minor pointBlack Sheep Ventures holding rose to $1,527,913 at September 30 from $1,524,625 at August 31.
• Minor pointOlive continues deploying capital into companies it considers to have near-term tangible catalysts.

Negative

• Major pointPortfolio value fell to $21,399,503 from $23,295,754 in August, but remained above $16,473,208 at year-end 2025.
• Minor pointOmai Gold Mines holding fell to $5,556,660 at September 30 from $6,657,980 at August 31.
• Minor pointOther public equity liquid investments and cash equivalents fell to $5,220,554 from $5,578,891 in August.
• Minor pointOther public equity fundamental investments, including warrants, fell to $3,309,549 from $3,625,308 in August.
• Minor pointOther private equity, loans and convertible debenture investments fell to $749,850 from $1,038,356 in August.

5 minor points

• Minor pointGoldsky Resources holding, including warrants, fell to $629,250 at September 30 from $726,360 at August 31.
• Minor pointBravo Mining holding fell to $573,270 at September 30 from $633,080 at August 31.
• Minor pointCotec Holdings investment fell to $815,679 at September 30 from $819,809 at August 31.
• Minor pointShare repurchase program expired during September.
• Minor pointLiquid investments measure excludes working-capital and liability adjustments.

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Toronto, Ontario--(Newsfile Corp. - October 6, 2026) - Olive Resource Capital Inc. (TSXV: OC) ("Olive" or the "Company") is pleased to provide investors an update on its investments for the period ending September 30, 2026.

Table 1: Olive's Investment Portfolio

Name	Ticker	Sector	Category	(Audited) Value	(Unaudited) Value	(Unaudited) Value
				Dec 31, 2025(1)	Aug 31, 2026(1)	Sep 30, 2026(1)
Omai Gold Mines Corp.(2)	OMG.v	Precious Metals	Public Equity	$3,504,200	$6,657,980	$5,556,660
Black Sheep Ventures Inc.	Private	Real Estate	Private Equity & Conv. Debenture	$1,527,912	$1,524,625	$1,527,913
Cotec Holdings Corp.	CTH.v	Technology	Public Equity & Conv. Debenture	$402,454	$819,809	$815,679
Canex Metals Inc.	CANX.v	Precious Metals	Public Equity	$264,450	$399,900	$690,800
GeoPark Ltd.	GPRK	Oil & Gas	Public Equity	$203,123	$640,609	$667,191
Goldsky Resources Corp. (inc. Warrants)	GSKR.v	Precious Metals	Public Equity	$296,829	$726,360	$629,250
ERO Copper Corp.	ERO	Base Metals	Public Equity	$248,155	$577,584	$585,536
Bravo Mining Corp.	BRVO.v	Precious Metals	Public Equity	$601,250	$633,080	$573,270
Sun Valley Minerals Inc.(2)	Private	Precious Metals	Private Equity	$375,000	$562,500	$562,500
Aquitaine Metals Corp.	Private	Precious Metals	Private Equity	$318,198	$510,752	$510,752
Other Public Equity Liquid Investments and Cash Equivalents (3)				$2,397,130	$5,578,891	$5,220,554
Other Public Equity Fundamental Investments Incl. Warrants (4)				$5,565,524	$3,625,308	$3,309,549
Other Private Equity, Loans, & Conv. Debenture Investments				$768,983	$1,038,356	$749,850
Total				$16,473,208(5)	$23,295,754(5)	$21,399,503(5)

 

1. For publicly listed investments traded on recognized exchanges, valuation is based on closing trading prices. For private equity investments, valuation is per the most recent financial statements. For Convertible Debentures, valuation is per the most recent financial statements, adjusted for interest accruals and convertibility value.
2. Derek Macpherson, Executive Chairman of Olive Resource Capital is a Director of this issuer (Omai; West Point). Samuel Pelaez, CEO of Olive Resource Capital is a Director of this issuer (Sun Valley).
3. Olive defines Liquid Investments as investments whose position can be liquidated in less than one day's average trading volume for that security. This measure also includes cash and cash equivalents; but does not include adjustments for working capital and liabilities. Olive invites the reader to refer to its most recent financial statements available on its website; www.olive-resource.com for details on the Company's liabilities.
4. Out of the Money Warrants are valued using Black Scholes with 35% volatility, and 3% interest rate. In the Money Warrants are valued at their intrinsic value.
5. The increase in value from December 31, 2025 is primarily as a result of stock price appreciation of the investments, and to an equity offering conducted in August 2026 - For details please refer to the Company's press release dated August 17, 2026.

Samuel Pelaez, the Company's President, CEO, CIO, and Director stated: "September was a complete reversal of the performance posted by the sector in August. The U.S. dollar rallied as yields on U.S. debt increased. Commodities were volatile, with some posting advances while others declined. The natural resources equities, however, declined across the board as negative investor sentiment and increased volatility decreased risk appetite. At Olive we continue to be active in deploying capital in companies we consider having near-term tangible catalysts."

Derek Macpherson, the Company's Executive Chairman stated: "September was a challenging month for gold equities with some of the best performing stocks from the past year, seeing some of the largest declines. Management's longer-term view for commodities and the underlying equities remains intact and views this shorter-term volatility as an opportunity. Olive's above average cash position has it well positioned to take advantage of this weakness and to strengthen the portfolio."

Normal Course Issuer Bid ("NCIB")

During the month of September, the Company's NCIB expired. The Company cancelled 4,046,000 common shares previously held in treasury.

As of the date of this release Olive Resource Capital Inc. has 132,417,754 common shares outstanding inclusive of the shares in treasury pending cancellation.

About Olive Resource Capital Inc.:

Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company's assets consist primarily of investments in natural resource companies in all stages of development.

For further information, please contact:

Derek Macpherson, Executive Chairman at derek@olive-resource.com or by phone at (416)294-6713 or Samuel Pelaez, President, CEO & CIO at sam@olive-resource.com. Olive's website is located at www.olive-resource.com.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should", "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Olive to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking, including, without limitation, statements concerning Olive's intended future disclosure practices. Although Olive believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; and those risks set out in the Company's public documents filed on SEDAR+. Accordingly, readers should not place undue reliance on forward-looking information. Olive does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. The information provided in this recording has been obtained from sources believed to be reliable and is believed to be accurate at the time of publishing but we do not represent that it is accurate or complete and it should not be relied upon as such.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317624

FAQ

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What was Olive Resource Capital's investment portfolio value at September 30, 2026?

Olive's unaudited investment portfolio value was $21,399,503 at September 30, 2026. It was $23,295,754 at August 31, 2026, compared with an audited $16,473,208 at December 31, 2025.

How many shares did Olive Resource Capital cancel in September 2026?

Olive cancelled 4,046,000 common shares previously held in treasury during September, when its share repurchase program expired. At the announcement date, it had 132,417,754 common shares outstanding, including treasury shares pending cancellation.

How does Olive Resource Capital value its investment holdings?

Publicly listed investments traded on recognized exchanges are valued at closing trading prices, while private equity uses the most recent financial statements. Convertible debentures use the most recent financial statements, adjusted for accrued interest and conversion value. Out-of-the-money warrants use the Black Scholes model with 35% volatility and a 3% interest rate; in-the-money warrants use intrinsic value.

What qualifies as a liquid investment in Olive Resource Capital's portfolio?

Olive defines liquid investments as positions that can be liquidated in less than one day's average trading volume for the security. The measure also includes cash and cash equivalents, but excludes adjustments for working capital and liabilities.