Lendified Files Annual Financial Statements

Toronto, Ontario--(Newsfile Corp. - March 31, 2022) - Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) ("Lendified" or the "Company") announces it has filed its audited annual financial statements for the year ended December 31, 2021 (the "Financial Statements") and related management and discussion (the "MD&A"). The Financial Statements and MD&A can be found under the Company's profile on www.SEDAR.com.

Business Highlights:

  • The Company saw significant restructuring and investment throughout the year with debt restructuring completed in July and private placements in July and October.

  • In July, the Company entered into a two-year credit agreement with Windsor Private Capital Limited Partnership and Evergreen Gap Debt GP Inc for a new credit facility of up to $10,000,000. The new credit facility positions the Company to continue to originate new loans and respond to demand from businesses for funding.

  • In August, the Company announced the appointment of Eoghan Bergin as CEO and Director of the Company succeeding John Gillberry. Further to this, in December at its Annual General Meeting (AGM), the Company's shareholders elected the addition of a new director, Chris Tambakis, to join the board alongside the other directors, Eoghan Bergin, Guy Charette, Peter Ostapchuk and Perry Dellelce.

  • For the year ended 2021, net income improved by 105% to net income of $611,725 in comparison to -$12,091,884 during the prior year. This marks a significant milestone for the Company with its yearly earnings being positive for the first time in its history.

The Company is also pleased to announce the appointment of Pratik Bhandari, the Company's Chief Financial Officer, as Corporate Secretary.

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 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 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", "continue", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements, including but not limited to, the impacts of general economic conditions, the COVID-19 pandemic and industry conditions. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118762

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