Lendified Announces Filing of Subsidiary's Q1 Interim Financial Report
Toronto, Ontario--(Newsfile Corp. - September 28, 2020) - Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the "Company" or "Lendified") is pleased to announce that, further to its press releases of June 25, 2020, July 3, 2020 and September 18, 2020, it has filed the interim financial report of Lendified Privco Holding Corporation ("Privco"), a wholly-owned subsidiary of the Company acquired though the Company's qualifying transaction announced on December 24, 2019 (the "Qualifying Transaction"), for the period ended March 31, 2020 (the "Privco Interim Report"). Lendified has previously filed the audited annual financial statements of Privco for the period ended December 31, 2019 (the "Privco Annual Statements"). The Privco Annual Statements and the Privco Interim Report were required to be filed in connection with the Qualifying Transaction pursuant to Section 4.10(2)(a)(i) of National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102") since Privco was the "reverse takeover acquirer". With the filing of the Privco Annual Statements and the Privco Interim Report, the obligations of the Company to file financial statements for Privco under NI 51-102 are now complete.
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 Company for failing to file the Privco Annual Statements 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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Forward Looking Statements
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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