All amounts are stated in
In conjunction with the closing of this transaction, which remains subject to the satisfaction of the applicable closing conditions, Mount Logan expects to establish an office in
Transaction Highlights
- Further develops Mount Logan’s retail business, opening new distribution relationships for current funds, and scales the current sales infrastructure
- Expands the scope of Mount Logan’s capabilities with deal-origination synergies for other Mount Logan managed funds
- Bolsters Mount Logan’s permanent and semi-permanent asset base, a core part of Mount Logan’s strategy
- The transaction is expected to close in the first half of 2023 and is subject to the satisfaction of the applicable closing conditions
- Expect to retain existing Ovation team to ensure a seamless transition
About
About Ovation
Cautionary Statement Regarding Forward-Looking Statements
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 it. 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; portfolio composition and size, asset management activities and related income, capital raising activities, future credit opportunities of the Company, portfolio realizations, the protection of stakeholder value and the expansion of the Company’s loan portfolio, including through the potential transaction with Ovation. 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 that the expected synergies of the potential transaction with Ovation may not be realized as expected; the risk that the Company may not be successful in integrating the acquired business without significant use of the Company’s resources and management’s attention; the risk that the acquired business may require a significant investment of capital and other resources in order to expand and grow the business; the Company has a limited operating history with respect to an asset management oriented business model and 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. These forward-looking statements are made as of the date of this press release.
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 release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities in the Company or in any fund or other investment vehicle. This press release is not intended for
1As of
For additional information, please contact:
Chief Financial Officer
Jason.Roos@mountlogancapital.ca
Source:
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