Lendified Announces Changes to the Board of Directors and the Filing of Its Subsidiary's Audited Financial Statements
Toronto, Ontario--(Newsfile Corp. - September 18, 2020) - Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the "Company" or "Lendified") is pleased to announce the appointment of Guy Charette as an independent non-executive Director of the Company, effective immediately. Mr. Charette is a corporate finance lawyer with over thirty years' experience in the areas of securities, corporate finance as well as mergers and acquisitions in Toronto and Montreal. Although primarily involved in the resource sector, he has also been involved in other areas such as medical technologies, industrial companies as well as having acted for many underwriters on various types of securities offerings. His corporate finance activities have included projects in many parts of the world including Africa, Europe and South America. Mr. Charette has a particular expertise in developing innovative financial structures designed to match the needs of both issuers and investors.
In addition, Lendified announces that Kevin Clark has resigned from the Board of Directors of the Company. The Board of Directors thanks Mr. Clark for his service to Lendified and for his assistance in aiding the turnaround efforts of the Company and wishes him well in his future endeavours.
The Company is also pleased to announce, further to its press releases of June 25, 2020 and July 3, 2020, that it has filed the audited annual financial statements of Lendified Privco Holding Corporation ("Privco"), a wholly-owned subsidiary of the Company acquired through the Company's qualifying transaction announced on December 24, 2019 (the "Qualifying Transaction"), for the period ended December 31, 2019 (the "Privco Annual Statements"). The Privco Annual Statements as well as Privco's interim financial report for the period ended March 31, 2020 (the "Privco Interim Report") were required to be filed in connection with the Qualifying Transaction. The Corporation expects to file the Privco Interim Report shortly. On August 5, 2020 the Corporation filed the interim financial report of the Corporation for the period ended March 31, 2020, together with its related management discussion & analysis ("MD&A").
The Ontario Securities Commission ("OSC") issued a failure-to-file cease trade order on July 9, 2020 (the "FFCTO") in respect of all of the securities of the Corporation for failing to file certain continuous disclosure documents in a timely manner. The FFCTO remains in effect until revoked by the OSC.
ABOUT LENDIFIED HOLDINGS INC.
Lendified, a company located in Ontario, Canada, is a Canadian FinTech company operating both a lending platform which provides working capital loans to small businesses across Canada through a wholly-owned subsidiary, as well as a software as a service technology platform providing AI-enabled credit origination and analytics to financial institutions across Canada through another wholly-owned subsidiary, JUDI.AI. The Company announced its intention to sell JUDI.AI in its press release of July 7, 2020.
For further information regarding Lendified, please contact:
Troy Wright, Chief Executive Officer and Director
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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 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.
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