Mount Logan Capital Inc. to Fund Transaction with Crown
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All amounts are shown in United States dollars, unless otherwise noted.
TORONTO, July 20, 2021 (GLOBE NEWSWIRE) – Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan”, “MLC”, “our”, “we” or the “Company”) announces that it will proceed with the financing of its obligations in connection with its previously announced transaction with Crown Private Credit Partners Inc., a Canadian alternative corporate finance firm that has been partially divested from Crown Capital Partners Inc. (the “Crown Transaction”). As part of the transaction with the Crown, the Company today concluded a non-middleman private placement (the “Private Placement”) of 2,165,000 common shares of the Company (the “Shares” at the purchase price of C $ 3.20 per share for gross proceeds of C $ 6,928,000. The net proceeds of the private placement will be used by Mount Logan to meet its funding obligations under the Crown transaction and for general corporate purposes. business and working capital.
In accordance with applicable securities legislation, the shares issued under the private placement are subject to a legal hold period of four months. In connection with the private placement, certain registrants who assisted the company in identifying buyers for the private placement received aggregate cash compensation of C $ 330,000 and issued a total of 76,923 warrants. shares, each warrant exercisable to purchase one share at a price of Cdn $ 3.90 per share for a period of 18 months from the closing date of the private placement. Insiders of the Company subscribed for shares in connection with the private placement for an amount of C $ 1,000,000 in gross proceeds.
About Mont Logan Capital Inc.
Mount Logan Capital Inc. is an alternative asset management firm that focuses on public and private debt securities in the North American market. The Company seeks, assesses, underwrites, manages, monitors and invests primarily in loans, debt securities and other credit-oriented instruments that present attractive risk-adjusted returns and present a low risk of capital depreciation throughout. along the credit cycle.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements may be identified by the expressions “seeks”, “expects”, “believes”, “believes”, “will”, “target” and similar expressions. Forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events and are based on information currently available. Certain important factors and assumptions have been applied in providing these forward-looking statements. The forward-looking statements discussed in this press release include, without limitation, statements relating to the intended use of the proceeds of the private placement and the corporate financing activities expected to be carried out by Crown Private Credit Partners Inc. All statements forward-looking statements in this press release are qualified by these caveats. The Company believes that the expectations reflected in the forward-looking statements are based on reasonable assumptions; however, the Company cannot guarantee that actual results or developments will be achieved on certain specified dates or not at all. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under the heading “Risk Factors” in the latest Annual Information Form. filed and the management report and analysis for the company. Therefore, readers should not place undue reliance on these forward-looking statements. In addition, a forward-looking statement is only valid on the date on which such statement is made. The Company assumes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances, except as required by securities laws. These forward-looking statements are made as of the date of this press release.
This press release is not, and should not be construed as, a prospectus or advertisement and the communication of this press release is not, and should not be construed as, an offer to sell or an offer to buy securities of the Company or any fund or other investment vehicle. This press release is not intended for American people. The shares of the Company are not and will not be registered under the US Securities Act of 1933 and the Company is not and will not be registered under the US Investment Company Act of 1940 (the “1940 Act”). US nationals are not permitted to purchase shares of the Company in the absence of an applicable exemption from registration under each of these laws. In addition, the number of investors in the United States, or who are United States nationals or who purchase on behalf of or for the benefit of United States nationals, will be limited to the number required to comply with an available exemption from the registration requirements of the United States. 1940 Act.
For more information, contact:
Mont Logan Capital Inc.
365 Bay Street, Suite 800
Toronto, ON M5H 2V1