Toronto, Ontario–(Newsfile Corp. – June 29, 2020) – Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan,” “our,” “we,” or the “Company”) announced that at the annual meeting of shareholders held on June 26, 2020 (the “Meeting”), each of the five nominees listed in the management information circular dated May 26, 2020 were elected as directors of the Company. A total of 8,878,314 common shares or 41.86% of Mount Logan’s issued and outstanding common shares (the “Shares”) were voted in connection with the Meeting. The detailed results of the vote for each of the five elected directors are set out below.
|Percentage of Votes
|Percentage of Votes
Ted Goldthorpe, CEO and Chairman of Mount Logan, noted, “We are pleased with the active participation of our shareholders in supporting our board members and our broader business plan. We aim to ensure continued support through growing our dialogue with existing and prospective shareholders.”
The Company’s investor presentation (the “Presentation”) is also available on the Company’s website.
About Mount Logan Capital Inc.
Mount Logan Capital Inc. is a Canadian-based asset manager created to source and execute on credit investment opportunities in North America. The Company holds and actively manages and monitors a portfolio of loans and other investments with credit-oriented characteristics. The Company intends to actively source, evaluate, underwrite, monitor, and primarily invest in additional loans, debt securities, and other credit-oriented instruments that present attractive risk-adjusted returns and present low risk of principal impairment through the credit cycle.
This press release and the Presentation contain forward-looking statements and information within the meaning of applicable securities legislation (collectively referred to herein as “forward-looking statements”). Forward-looking statements can be identified by the expressions “seeks”, “expects”, “believes”, “estimates”, “will”, “target” and similar expressions. The forward-looking statements are not historical facts, but reflect the current expectations of management of the Company regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this release and the Presentation include, but are not limited to, statements relating to the Company’s future cash flows and earnings; transaction pipeline; business plans and strategy; future financial or operating performance; anticipated shift in business strategy to an asset management model; potential interest income generation; sourcing channels; recurring asset management fees; valuations; investment characteristics; expected portfolio scale; future credit opportunities; future outlook and anticipated events or results; future financial position; expected plans, objectives and industry trends; requirements for additional capital; future growth and expansion of its loan portfolio; the specific terms of the loans that will form part of its loan portfolio from time to time; the continual payment of dividends; and other statements that are not historical facts, and as they relate to the acquisition of the management contract for the Resource Credit Income Fund (the “Fund”), statements relating to the required shareholder approval of the Fund, the satisfaction or waiver of certain other conditions to the completion of the proposed transaction, the timing of closing of the acquisition, the composition and size of the Fund at the closing date, synergies to be achieved following the closing date, satisfactory arrangements between the Company and Sierra Crest Investment Management LLC being entered into on the closing date, the Company’s ability to recover the purchase consideration in respect of the acquisition, the size of the Fund in relation to its peers, the Company’s ability to scale and manage other retail funds, stability of future earnings and the Company’s ability to grow its asset management platform. All forward-looking statements in this press release and the Presentation are qualified by these cautionary statements. The Company believes that the expectations reflected in forward-looking statements are reasonable based on upon the information available at the time such information was given; however, the Company can give no assurance that the actual results or developments will be realized by certain specified dates or 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 “Risks Factors” in the most recently filed annual information form and management discussion and analysis for the Company. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes 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. The forward-looking statements in this press release and the Presentation are made as of the dates of this press release and the Presentation, respectively.
This press release is not, and should not be construed as, an offer to sell or acquire any securities in any jurisdiction.
For additional information, please contact:
Ted Gilpin, Chief Financial Officer