Mount Logan Capital Inc. increases its stake in


All amounts are shown in United States dollars, unless otherwise specified.

TORONTO, June 09, 2021 (GLOBE NEWSWIRE) – Mount Logan Capital Inc. (NEO: MLC) (“Mount Logan” or the “Company”) is pleased to announce that Portman Ridge Finance Corporation (“Portman Ridge”), which is managed by Sierra Crest Investment Management LLC (“Sierra Crest”), in which Mount Logan holds a minority interest, today announced that it has completed its previously announced merger with Harvest Capital Credit Corporation (formerly NASDAQ: HCAP) (“HCAP “). The combined company is managed externally by Sierra Crest and is expected to have total assets of approximately $ 614 million after closing.

HCAP was a publicly traded, closed-end, externally managed (“BDC”) US-based business development company within the meaning of the United States. Investment Companies Act 1940, as amended (the 1940 Law”) which offered personalized financing to small and medium-sized businesses located across North America. The merger received strong support from HCAP’s shareholder base, with over 96% of voting shareholders approving the transaction.

As part of the merger transaction, a wholly owned subsidiary of Mount Logan contributed additional capital to Sierra Crest, increasing its stake in Sierra Crest from 21.40% to 24.99%.

Ted Goldthorpe, CEO and Chairman of the Board of Mount Logan, said, “The completion of the HCAP merger highlights the continued execution of Portman Ridge’s strategy to target attractive consolidation opportunities in the BDC space. We anticipate that the growth and scale-up of the combined company will benefit and support the future earnings growth of Sierra Crest and ultimately Mount Logan by providing a broader base of permanent fee-generating capital.

About Mont Logan Capital Inc.

Mount Logan Capital Inc. is an alternative asset management firm that focuses on public and private debt securities in the North American market. The Company seeks out, assesses, underwrites, manages, monitors and invests primarily in loans, debt securities and other credit-oriented instruments that present attractive risk-adjusted returns and present a low risk of capital depreciation throughout. along the credit cycle.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements and information within the meaning of applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements may be identified by the expressions “seeks”, “expects”, “believes”, “believes”, “will”, “target” and similar expressions. Forward-looking statements are not historical facts, but reflect the current expectations of the Company’s management regarding future results or events and are based on information currently available to it. Certain important factors and assumptions have been applied in providing these forward-looking statements. The forward-looking statements discussed in this the press release may include, without limitation, statements relating to the Company’s transition to an asset management business model; Portman Ridge’s strategy of continuing to target consolidation opportunities in the BDC space; the ability of Sierra Crest and the combined Company to continue to grow and expand their respective businesses; a greater capital base generating commissions being a catalyst for the growth of Sierra Crest; any change in the earnings potential of the Company as a result of the growth of each of Sierra Crest and the Combined Company; and statements relating to the affairs and future activities of the Company. All forward-looking statements contained in this press release are qualified by these cautionary statements. The Company believes that the expectations reflected in the forward-looking statements are reasonable based on the information available at the time such information was given; however, the Company cannot guarantee that actual results or developments will be achieved on certain specified dates or not 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 risk that the Company will only have a minority interest in Sierra Crest. and does not have the ability to affect the control of Sierra Crest or direct the management or policies of Sierra Crest, the risk that Sierra Crest may cease to be the investment advisor of its existing holding companies, including Portman Ridge and may not enter into other asset management agreements in order to grow and grow its business, the risk that Portman Ridge will not develop and develop its business in a manner that provides a significant benefit to the Company. Company, the Company has a limited operating history with respect to an asset management business model as good as the matters discussed under the heading “Risk Factors” of the last filed annual information form and of the Management’s Discussion and Analysis of the Company. Therefore, readers should not place undue reliance on these forward-looking statements. In addition, a forward-looking statement is only valid as of the date on which such statement is made. The Company assumes 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 contained 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, a prospectus or an advertisement, and the communication of this press release is not, and should in no way be construed as, an offer. sale or a solicitation of an offer to purchase securities of the Company or any fund or other investment vehicle. This press release is not intended for American people. The shares of the Company are not and will not be registered under the US Securities Act of 1933, as amended, and the Company is not and will not be registered under the 1940 Act. US nationals are not permitted to purchase shares of the Company in the absence of an applicable exemption from registration under each of these laws. In addition, the number of investors in the United States, or who are United States nationals or who purchase on behalf of or for the benefit of United States nationals, will be limited to the number required to comply with an available exemption from the registration requirements of the United States. 1940 Act.

For more information, contact:

Jason roos
Financial director
[email protected]

Mont Logan Capital Inc.
365 Bay Street, Suite 800
Toronto, ON M5H 2V1

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