Mr. Craig Armitage reports

MOGO FILES FINAL PROSPECTUS IN CONNECTION WITH A PUBLIC OFFERING OF CONVERTIBLE DEBENTURES

Mogo Finance Technology Inc. has filed a final short-form prospectus with the securities regulatory authorities in each of the provinces of Canada (other than Quebec) in connection with its previously announced, commercially reasonable "best efforts" public offering of up to $15-million total principal amount of 10 per cent senior secured convertible debentures. A receipt for the final prospectus has been issued by the securities regulatory authorities in each of the provinces of Canada (other than Quebec). The offering is expected to close on or about May 31, 2017.

Mackie Research Capital Corp., Cormark Securities Inc., Canaccord Genuity Inc., Haywood Securities Inc. and M Partners Inc. are acting as agents under the offering. Mogo has granted the agents an option, exercisable at any time up to 48 hours prior to the closing of the offering, to increase the size of the offering by up to 15 per cent, or up to an additional $2.25-million total principal amount of debentures.

The net proceeds from the offering will be used to finance the growth of the company's loan portfolio, with an emphasis on its long-term loan products. The company's loans are primarily financed using two credit facilities with Fortress Credit Co. LLC, with a portion of each loan being financed by the company. The net proceeds of the offering will be used to satisfy such portion of each new loan.

The Toronto Stock Exchange has conditionally approved the listing of the debentures and the common shares issuable upon conversion of the debentures, subject to the company fulfilling all of the listing requirements of the TSX on or before Aug. 4, 2017. The debentures will trade on the TSX under the ticker symbol MOGO.DB.

A copy of the final short-form prospectus relating to the offering is available on SEDAR.

About Mogo Finance Technology Inc.

Mogo, a Vancouver-based financial technology company, is focused on building the best digital banking experience in Canada, with innovative products designed to help consumers get in control of their financial health. Built mobile first, users can sign up for a free MogoAccount in only three minutes and get access to free credit score monitoring, a free spending account, mortgages and personal loans. With more than 400,000 members and growing, Mogo is leading the shift to digital banking in Canada and offering consumers real alternatives to the big banks.

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