Early Warning Report of Michael Wekerle

TORONTO, ON--(Marketwired - June 08, 2017) -

This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated the date hereof.

Michael Wekerle ("Wekerle") filed an early warning report today in connection with the acquisition by Wekerle of $2,000,000 aggregate principal amount of 10% senior secured convertible debentures ("Debentures") of Mogo Finance Technology Inc. ("Mogo") in connection with the closing of a public offering of Debentures by Mogo through the facilities of the Toronto Stock Exchange ("TSX") on June 6, 2017. Each Debenture is convertible into common shares of Mogo ("Shares") at a price per share equal to $5.00. Difference Capital Financial Inc. ("DCF") and Hermine Wekerle, each an associate of Wekerle, also acquired $4,000,000 and $250,000 principal amount of Debentures, respectively.

Following the acquisition of the Debentures and assuming the conversion of all of the Debentures, Wekerle held an aggregate of 2,904,400 Shares directly, representing 15.5% of the issued and outstanding Shares. In addition, DCF and Hermine each held 1,721,443 and 256,100 Shares, respectively, representing 9.0% and 1.4% of the issued and outstanding Shares. Assuming conversion of all of the Debentures, Wekerle, DCF and Hermine collectively have control or direction of an aggregate of 19,550,958 Shares of Mogo upon acquisition of the Debentures, representing 25.0% of the issued and outstanding Shares as of such date. Immediately prior to the acquisition of the Debentures, Wekerle held 2,504,400 Shares directly and DCF and Hermine each held an additional 921,443 and 206,100 Shares, respectively, representing in the aggregate 19.8% of the issued and outstanding Shares as of such date.

Wekerle purchased the Debentures for investment purposes. Wekerle expects to evaluate on an ongoing basis Mogo's financial condition, results of operations, business and prospects, the market price of the Shares, conditions in securities markets generally and in the market for shares of companies like Mogo, general economic and industry conditions and other factors that Wekerle deems relevant to his investment decisions. Based on such evaluations, Wekerle may at any time or from time to time determine to acquire additional Shares, or securities convertible into or exchangeable for Shares or derivatives relating to Shares, or to dispose of Shares or securities convertible into or exchangeable for Shares or derivatives relating to Shares that Wekerle owns or may hereafter acquire, through open market or privately negotiated transactions or otherwise, at such prices and on such terms as he deems advisable. Wekerle intends to monitor his investment in Shares. Wekerle and his representatives and advisers may communicate with other shareholders, industry participants and other interested parties concerning Mogo. In addition, based on Wekerle's continuing evaluation of the foregoing factors, Wekerle reserves the right to change his plans and intentions at any time or from time to time, as he deems appropriate.

The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Mogo's issuer profile. For further information or to obtain a copy of the early warning report please contact Kelly Pullen at 647-985-5798.