TORONTO, March 29, 2019 (GLOBE NEWSWIRE) -- Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan,” “our,” “we,” or the “Company”) today announced financial results for the year ended December 31, 2018.

For the December 2018 quarter, our total and comprehensive income was $0.8 million, or $0.02 per weighted average share, up from $(0.02) from the September 2018 quarter. The increase in income per share resulted primarily from an increase in interest income compared to the September 2018 quarter.

For the year ended December 31, 2018, our total and comprehensive loss was $0.2 million, or $(0.01) per weighted average share. As at December 31, 2018, we had total assets of $51.3 million, total liabilities of $8.6 million, shareholders’ equity of $42.7 million and a net asset value per share of $0.52.

Mount Logan expanded its investment focus to a broader lending-oriented credit platform in connection with a plan of arrangement (the “Arrangement”) that was completed in October 2018. We raised $40.6 million equity financing through the Arrangement, which was used to acquire an initial seed portfolio consisting of attractive and diversified credit assets. Costs of the Arrangement and initial transaction fees were substantially offset by the recognition of a deferred tax asset.

Ted Goldthorpe, CEO and Chairman of Mount Logan, noted, “We are pleased with our financial performance thus far and are excited to have the Arrangement behind us and a clear path forward. We look forward to continuing to grow our portfolio and evaluate further options to create value for shareholders.”

Our annual report and management’s discussion and analysis can be found on SEDAR (www.sedar.com).

Conference Call

We will hold a conference call on Tuesday, April 2, 2019 at 4:30 p.m. Eastern Time to discuss our full year 2018 financial results. Shareholders, prospective shareholders and analysts are welcome to listen to the call. To register for the call and access dial-in information, please visit: http://bitly.com/2U1jJo0.

About Mount Logan Capital Inc.

Mount Logan Capital Inc., formerly Marret Resource Corp., 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 contains forward-looking statements and information within the meaning of applicable securities legislation. 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 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 include, but are not limited to, statements relating to the Company’s business strategy, model, approach and future activities, future credit opportunities of the Company and the expansion of the Company’s loan portfolio. 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 based upon reasonable assumptions; 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: (i) under "Risks Factors" in the most recently filed annual information form and MD&A for the Company, and (ii) under the risk factors sections in the management information circular of the Company prepared in connection with the meeting at which the Arrangement was approved by shareholders. 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. 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, an offer to sell or acquire any securities in any jurisdiction.

For additional information, contact:

Dave Guebert, Chief Financial Officer
dave.guebert@mountlogancapital.ca