TORONTO, ON – February 22, 2024 – Montfort Capital Corp. (“Montfort” or the “Company”) (TSX-V:MONT/OTCQB:MONTF), a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers, announces that Ken Thomson has been named the new CEO, stepping up from his role as Chief Strategy Officer. This transition marks a significant moment for Montfort, reflecting the company’s growth and its strategic vision for the future. Andrew Abouchar, having provided steady leadership as Interim CEO through a period of significant growth and change, will continue as Executive Director and Board Member.

Mr. Thomson joined Montfort Capital as Chief Strategy Officer in 2021 following the acquisition of Pivot Financial, a private credit company he founded in 2015, and played a key role at Montfort during the acquisitions of Brightpath Capital and Langhaus Financial Partners. Mr. Thomson brings over 20 years of investment and management experience, having founded and managed several investment businesses in senior roles. He is the chair of the Independent Review Committee of Educators Financial Group and Hazelview Securities Inc., and a member of the Independent Review Committee of Algonquin Capital and Goodwood Inc.

“The board’s decision to appoint Ken is a vote of confidence in his extensive experience and visionary leadership,” said Howard Atkinson, Chairman of the Board for Montfort. “This smooth transition between Andrew and Ken emphasizes the stability and continuity that are hallmarks of Montfort’s business approach. Ken is a seasoned entrepreneur who has been building and growing successful businesses all of his career. He demonstrates a creative and thoughtful approach towards providing alternative solutions and sees opportunities where others don’t. And that is the mark of a true entrepreneur and leader.”

“On behalf of the Board, I would also like to extend our gratitude to Andrew Abouchar, who will increase his focus on TIMIA Capital’s growth prospects as Ken takes on the role of CEO. Andrew’s leadership over the last several months has been invaluable to our efforts, and we are pleased that he will remain with the company as a Board member and advisor.”

“I’m thrilled to step into the role of CEO at such a transformative time in the private credit industry,” said Ken Thomson, newly appointed CEO of Montfort Capital Corp. “Our journey so far has been nothing short of extraordinary, with our assets under management (AUM) growing from $21 million to over $290 million in just five years, and assets under management and administration (AUMA1) growing to over $388 million during the same period. This growth underscores the effectiveness of our business model. Through strategic acquisitions of alternative lending companies, we’ve not only grown significantly but also gained economies of scale and diversified the investment avenues for our shareholders and investors.” Total Assets were $374.4 million as at September 30, 2023 and $27.1 million as at December 31, 2019.

“Looking ahead, we have ambitious plans to grow Montfort further. With Blake Albright by my side as Chief Capital Officer and the support of our highly skilled teams across our group of companies, I’m fully confident in our collective ability to take Montfort to new heights.”

Montfort Capital is set to continue its trajectory of growth and innovation. With a solid foundation and a clear vision for the future, the company is well-positioned to explore new opportunities and achieve its ambitious goals.

1Assets under management and administration (AUMA) is a non-GAAP financial measure. Please refer to “Cautionary Note on Non-GAAP Financial Measures” below and Montfort’s press release dated November 28, 2023 for more information on the use of AUMA as a non-GAAP financial measure.

About Montfort Capital Corp.

Montfort is a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers.  We employ focused strategies, experienced management teams and advanced technology to drive superior risk-adjusted investment returns. For further information, please visit

For more information, please contact:

Tim McNulty / Darren Seed
Incite Capital Markets
Ken Thomson, CEO
Montfort Capital Corp.
(604) 398-8839

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note on Non-GAAP Financial Measures

This release contains some non-Generally Accepted Accounting Principles (GAAP) financial measures as defined in National Instrument 52-112 “Non-GAAP and Other Financial Measures Disclosure”. Terms by which non-GAAP financial measures are identified include, but are not limited to “assets under management and administration”. Non-GAAP financial measures are used to provide management and investors with additional measures of performance to help assess results where no comparable GAAP (IFRS) measure exists. However, non-GAAP financial measures do not have standard meanings prescribed by GAAP (IFRS) and are not directly comparable to similar measures used by other companies. Investors may find these financial measures useful in understanding how management views the underlying business performance of the Company.

Assets under Management and Administration (AUMA)

Assets under management and administration is a non-GAAP financial measure that provides an indicator of the size and volumes of the Company’s overall business. Management and administrative services are an important aspect of the overall business of the Company and should be considered when comparing volumes, size and trends. “Total assets” is the most directly comparable financial measure to AUMA that is disclosed in the Company’s financial statements. AUMA includes assets under management plus loans managed on behalf of third parties. Assets under management include the current portion of loans receivable and loans receivable on the statement of financial position within Total Assets.

Forward-Looking Information

Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements normally contain words like ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’ and similar expressions, and within this news release include any statements (express or implied) respecting the future growth of the Company and the Company’s future financial performance.

Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the assumption that the Company and its investee companies are able to meet their respective future objectives and priorities and assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company.

Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Montfort’s business. Material risks and uncertainties applicable to the forward-looking statements set out herein include but are not limited to: intense competition in all aspects of business; reliance on limited management resources; general economic risks; new laws and regulations and risk of litigation. Although Montfort has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Montfort. Accordingly, readers should not place undue reliance on forward-looking statements. Montfort undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.