Mr. Greg Feller reports

MOGO SECURES NEW CREDIT FACILITY OF UP TO $40 MILLION FROM FORTRESS

Mogo Finance Technology Inc. has finalized a new senior secured credit facility of up to $40-million from funds managed by affiliates of Fortress Investment Group LLC. The new credit facility will be used to repay and replace Mogo's existing $30-million facility with Fortress. This new credit facility, which has a lower effective interest rate and extends the maturity date by two years to July 2, 2020, will primarily be used to finance the company's high-yielding line-of-credit products. The new facility is in addition to the company's existing $50-million Fortress facility, which has an initial interest rate of 9.5 per cent and can be expanded, under certain conditions, up to $200-million.

"Fortress continues to be an excellent partner as we grow our high-yielding loan portfolio alongside the ramp of our new fee-based products," said Greg Feller, president and chief financial officer of Mogo. "This new facility increases our available loan capital on more favourable terms and extends the maturities of all of our funding facilities to 2020."

"We are excited to continue to expand our relationship with Mogo, which we see as one of the most innovative financial technology companies in North America," said Dominick Ruggiero, managing director at Fortress and co-chief investment officer of the Fortress Secured Lending Fund.

The new facility will have an effective interest rate of 14.5 per cent (based on an initial credit facility interest rate of an adjusted London interbank offered rate plus 12.5 per cent with a LIBOR floor of 2 per cent). If the new facility is increased beyond $40-million, the incremental portion of the facility will have an effective rate of 13 per cent (based on today's adjusted LIBOR plus 11 per cent with a LIBOR floor of 2 per cent). The full terms of the new facility will be filed on SEDAR.

About Mogo Finance Technology Inc.

Mogo, a Vancouver-based financial technology company, is focused on leading the shift to digital financial services in Canada, with innovative products designed to make it easier for Canadians to manage their financial health. Built mobile first, users can sign up for a free Mogo account in only three minutes and get access to free credit score monitoring, the Mogo prepaid Visa card, mortgages and personal loans. With more than 450,000 members and growing, Mogo is offering consumers real alternatives to the big banks.

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