Ian Sutherland Reduces Beneficial Ownership of MCAN Through Disposition of Shares in Capital Tachane Inc.

TORONTO, July 7, 2021 /CNW/ - Ian Sutherland announces the redemption, effective July 7, 2021, of all of his voting preferred shares in Capital Tachane Inc. ("Capital Tachane"), which owns 1,687,520 common shares of MCAN Mortgage Corporation ("MCAN").  Mr. Sutherland no longer holds any equity interests in Capital Tachane.

Prior to the disposition, Mr. Sutherland beneficially owned or controlled an aggregate of 3,448,734 common shares of MCAN, representing approximately 12.51% of the issued and outstanding shares of MCAN. After giving effect to the redemption of the Capital Tachane shares, Mr. Sutherland beneficially owns or controls 2,098,718 common shares of MCAN, representing approximately 7.62% of MCAN's issued and outstanding shares. Mr. Sutherland's total decrease in beneficial ownership in the capital of MCAN, due to the redemption, is approximately 4.89%. Mr. Sutherland's shares in Capital Tachane were redeemed pursuant to an agreement with Capital Tachane as part of Mr. Sutherland's personal financial planning arrangements.

This press release is being issued pursuant to the requirements of the early warning provisions of Canadian securities legislation. A copy of the Early Warning Report in connection with the transactions described above will be available on the MCAN's SEDAR profile atwww.sedar.com.

Ian Sutherland is located at 3 Hillside Court, Oro-Medonte, Ontario, L0L 2L0. MCAN is located at Suite 600, 200 King Street West, Toronto, Ontario, M5H 3T4.

Mr. Sutherland holds the MCAN shares, directly and indirectly, for investment purposes. From time to time Mr. Sutherland  will review his holdings in MCAN and, based upon such review, may increase or decrease his shareholding in MCAN in open market, privately negotiated transactions or otherwise, with one or more persons.

SOURCE Ian Sutherland

To obtain a copy of the Early Warning Report filed under National Instrument 62-103, please contact: Ian Sutherland, Tel: [phone]