Cortland Credit Group Inc. Announces a Delay in Filing Audited Financial Statements and Management Report of Fund Performance for Clearpoint Short Term Income Fund Due to Covid-19 Related Delays

TORONTO, May 11, 2020 /CNW/ - Cortland Credit Group Inc., the manager and trustee of the Clearpoint Short Term Income Fund (the "Fund") has announced that as a result of the COVID-19 Pandemic, the Ontario Securities Commission has provided relief in respect of certain securities filing requirements, and that the Fund will postpone its 2019 Annual Financial Statements and MRFP.

Cortland CEO, Sean Rogister, "In response to personnel safety concerns and logistical challenges caused by the COVID-19 Pandemic, we are postponing the filing of the Fund's Audited Annual Financial Statements and MRFP for the year ending December 31, 2019. We believe that due to the various state of emergencies declared across Canada and the associated restrictions imposed on our teams, we must delay our audit work to protect our workforce and the independent auditors to the greatest extent possible."

This announcement is in connection with an Ontario Securities Commission ("OSC") order under Ontario Instrument 81-503 ("OI 81-503") dated March 23, 2020, pursuant to which all issuers required to make certain Ontario securities filings between March 23, 2020, and June 1, 2020, have an additional 45 days to make such filings from the deadline otherwise applicable to make such filings. The Fund will file its audited financial statements and MRFP as soon as possible, and in any event within the 45-day relief period provided by OI 81-503.

These documents, when filed, will be available at www.sedar.com and www.cortlandcredit.ca.

ABOUT CORTLAND CREDIT GROUP INC.

Cortland is one of Canada's leading fixed income asset managers with over $600 million under management. Founded in 2013 by a group of senior investment professionals, the firm specializes in delivering income-orientated solutions with a focus on capital preservation and superior risk-adjusted returns. Cortland's suite of investment funds are offered to a wide range of clients, from financial advisors to individual and institutional investors, including pension plans, corporations, as well as endowments and foundations.

SOURCE Cortland Credit Group Inc.