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TORONTO, Sept. 21, 2023 /CNW/ - Canaccord Genuity G Ventures Corp. (NEO: CGGV.UN) ("G-Corp") and Mount Logan Capital Inc. (NEO:MLC) ( "Mount Logan" and together with G-Corp, the "Parties") announced today that, due to delays in obtaining necessary regulatory approvals, G-Corp intends to, subject to receipt of required approvals, mail an information circular to its shareholders on or about September 28, 2023 in connection with a special meeting of shareholders to take place on October 19, 2023 in order to seek an extension of G-Corp's "permitted timeline" from October 23, 2023 to July 23, 2024 (the "Extension"). In connection with the Extension, G-Corp intends to offer holders of G-Corp's Class A restricted voting units a right to redeem their units in the event of, and upon, the Extension becoming effective.

The Parties also announced today that they have entered into a 30-day exclusivity agreement pursuant to which they will negotiate a new agreement in connection with the termination of the arrangement agreement entered into between the Parties on August 13, 2023.

About Canaccord Genuity G Ventures Corp.

Canaccord Genuity G Ventures Corp. is a growth-focused special purpose acquisition corporation incorporated under the laws of the Province of Ontario for the purpose of effecting a qualifying transaction within a specified period of time.

About Mount Logan Capital Inc.

Mount Logan operates as an emerging asset management and insurance solutions company, through its wholly-owned subsidiaries, Mount Logan Management LLC ("ML Management") and Ability Insurance Company ("Ability").

As an asset management firm, ML Management primarily earns management fees, incentive fees, and servicing fees for providing investment management, monitoring and other services to investment vehicles and advisers. ML Management also earns investment income by investing 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, and minority equity stakes in funds and companies. ML Management is registered as an investment adviser with the United States Securities and Exchange Commission under the Investment Advisors Act of 1940, as amended, and is registered to act in an investment advisory role for clients in the United States.

Ability is a Nebraska domiciled insurer and reinsurer of long-term care policies. Mount Logan purchased Ability in October 2021 and invested capital into Ability to launch a platform for the reinsurance of annuities.

Since the acquisition of Ability, Mount Logan has leveraged its two business segments to capture the benefit of providing products and services across both asset management and insurance solutions. The alignment of the business has allowed Mount Logan to scale its asset and liability originations for the benefit of Mount Logan's shareholders.

Forward–Looking Statements

This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects the G-Corp and Mount Logan's current expectations regarding future events. The words "will", "expects", "intends" and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specific forward-looking information contained in this press release includes statements with respect to the Extension and G-Corp's qualifying transaction. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the G-Corp and Mount Logan's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. Such risks and uncertainties include, but are not limited to, risks relating to the failure to obtain necessary shareholder and regulatory approvals for the Extension; the filing and/or mailing of documentation relating to the Extension may not be completed on a timely basis; failure to enter into a definitive agreement with respect to a business combination between G-Corp and Mount Logan; and events or series of events may cause business interruptions. Readers are cautioned that the foregoing list of factors is not exhaustive. Neither G-Corp nor Mount Logan undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Canaccord Genuity G Ventures Corp

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