Mount Logan Capital Inc. Files Preliminary Short Form Prospectus in Connection with Proposed Equity Offering of up to $25,000,000

All figures in Canadian dollars unless otherwise noted.

Toronto, Ontario--(Newsfile Corp. - August 4, 2020) - Mount Logan Capital Inc. (NEO: MLC) (the "Company") announced today that it has filed and obtained a receipt for a preliminary short form prospectus (the "Prospectus") in each of the provinces of Canada other than Quebec, with respect to an offering (the "Offering") of up to $25,000,000 of common shares of the Company (the "Offered Shares"). The Offering is being conducted on a "best efforts" agency basis under the terms of an agency agreement to be entered into between the Company and Canaccord Genuity Corp. (the "Lead Agent"), AltaCorp Capital Inc. and Stifel Nicolaus Canada Inc. (collectively with the Lead Agent, the "Agents"). The price per Offered Share will be determined in the context of the market prior to the filing of the (final) short form prospectus in respect of the Offering.

The Company intends to use the net proceeds of the Offering to further its business strategy of investing in public and private debt securities in the North American market.

The Company has applied to list the Offered Shares issuable in connection with the Offering on the facilities of the Neo Exchange Inc. (the "NEO Exchange"). A copy of the Prospectus is available under the Company's SEDAR profile at www.sedar.com. The Offering is subject to certain customary conditions, including the receipt of all necessary regulatory approvals, including the approval of the NEO Exchange and any necessary shareholder approval required by the NEO Exchange.

This press release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement, and the communication of this press release is not, and under no circumstances is it to be construed as, an offer to sell or a solicitation of an offer to purchase securities of the Company. This press release is not intended for U.S. persons. The Company's shares are not and will not be registered under the U.S. Securities Act of 1933 and the Company is not and will not be registered under the U.S. Investment Company Act of 1940 (the "1940 Act"). U.S. persons are not permitted to purchase the Company's shares absent an applicable exemption from registration under each of these Acts. In addition, the number of investors in the United States, or which are U.S. persons or purchasing for the account or benefit of U.S. persons, will be limited to such number as is required to comply with an available exemption from the registration requirements of the 1940 Act.

About Mount Logan Capital Inc.

Mount Logan Capital Inc. is an alternative asset management company that is focused on public and private debt securities in the North American market. The Company seeks to source and actively manage loans and other debt-like securities with credit-oriented characteristics. The Company actively sources, evaluates, underwrites, monitors and primarily invests in 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 contains 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 press release may include, but are not limited to, information concerning the completion of the Offering, the approval of the NEO Exchange of the Offering and the listing of the Offered Shares being issued thereunder, the receipt of any additional regulatory approvals required to complete the Offering, the receipt of any necessary shareholder approvals in respect of the Offering, the number of Offered Shares to be sold by the Company and the expected use of proceeds from the Offering. All forward-looking statements in this press release 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 "Risk Factors" in the Prospectus and the most recently filed annual information form and management's 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 are made as of the date of this press release.

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
[email protected]

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