Lendified Announces Closing of Private Placement

Toronto, Ontario--(Newsfile Corp. - October 25, 2021) - Lendified Holdings Inc. (formerly, Hampton Bay Capital Inc.) (TSXV: LHI) (the "Company" or "Lendified") is pleased to announce that the Company completed its previously announced non-brokered private placement offering of units of the Company ("Units") consisting of 6,000,000 Units at a price of $0.05 per Unit for aggregate gross proceeds of $300,000 (the "Offering"). Each Unit is comprised of one common share (a "Share") in the capital of the Company and one common share purchase warrant (a "Warrant") exercisable at $0.07 per Share for a period of 24 months following the closing date of the Offering.

The proceeds derived from the Offering will be used for key professional personnel additions, regulatory and compliance costs and for general working capital purposes.

In connection with the Offering, the Company paid an aggregate of $15,000 and issued 420,000 compensation options, each exercisable to acquire one Unit at a price of $0.05 per Unit for a period of 24 months following the closing date of the Offering, as finders' fees to certain persons who assisted the Company with the Offering.

All of the securities issuable in connection with the Offering are subject to a hold period expiring four months and one day after the date of issuance in accordance with TSX Venture Exchange ("TSXV") rules and Canadian securities laws. The Offering is subject to the final approval of the TSXV and to all regulatory approvals.

The securities being offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities being offered pursuant to the Offering in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT LENDIFIED HOLDINGS INC.

Lendified, a company located in Ontario, Canada, is a Canadian company operating a lending platform which provides working capital loans to small and medium-sized businesses across Canada.

Further Information

For further information regarding Lendified, please contact:

Eoghan Bergin, Chief Executive Officer and Director
1-844-451-3594
eoghan.bergin@lendified.com

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

This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including whether the Offering will be approved by the TSXV or if the proceeds of the Offering will be sufficient for the Company's purposes, whether the effects of the COVID-19 pandemic will be even more severe than it has been to date, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.

NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR DISSMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100713

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