Lendified Provides an Update on Proposed Debt Conversions

Toronto, Ontario--(Newsfile Corp. - July 29, 2021) - Lendified Holdings Inc. (TSXV: LHI) (formerly, Hampton Bay Capital Inc.) (the "Company" or "Lendified") is pleased to provide an update regarding its proposed conversion of existing debt obligations for common shares of the Company (the "Proposed Conversion"), as previously announced on May 14, 2021. The Company intends to complete the Proposed Conversion of certain existing debt into common shares of the Company ("Common Shares") on or about July 30, 2021 at a price of $0.05 per Common Share. Pursuant to the Proposed Conversion, it is expected that approximately $10,618,310.53 of existing debt of the Company will convert into approximately 212,366,210 Common Shares.

There can be no assurances that the Proposed Conversion will be completed on the terms set out herein, or at all. The Proposed Conversion is subject to the approval of the TSX Venture Exchange ("TSXV"). In addition, the Proposed Conversion may be subject to certain requirements set out in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

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:

John Gillberry, Chief Executive Officer and Director
1-844-451-3594
john.gillberry@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, but not limited to, whether the Proposed Conversion will be approved by the TSXV, the anticipated timing of the Proposed Conversion, 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, there can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. 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. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. 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/91639

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